META

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0116%/8h= +12.7% APRnext payment +$0.15 per $10,000 · paid last 24h +0.042%

Price spread now: Injective against Coinbase International+0.246%56s7-day average +0.393% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$700.698% of the position

Long on Coinbase International Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.524%+$52 on $10k

Price spread, last 4 days (all we have)−0.112%−$11 · spread now +0.246%, 7d avg +0.393%

Together, before fees+0.413%+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.147% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.246% now, against its 7-day average of +0.393%). If the spread goes back, that is −$15 on $10k: about 4.2 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.524% in total) that is about 47 hours. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	744.73	0.0104	pay 0.0013% / 1h	25m 18s	$650K	$8.0M	10x
Short	Injective META/USDC PERP	746.56	0.0220	get 0.0028% / 1h	25m 18s	$172K	$46K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Coinbase InternationalbpFee InjectivebpOrdersPrice spread, now +0.246%Rate

Funding earned: $24.36
Price spread: +0.246% → +0.393%: −$14.74
Slippage, 4 orders: −$59.81
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$60.21
Costs to cover: 0.698%
Break-even: 24.3 days

Slippage from Coinbase International: live order book, 4 min ago; Injective: live order book, 18 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Coinbase International live order book, 4 min ago	1.95 bp	7.2 bp −$7	10.6 bp −$106	doesn't fit	doesn't fit
Sell Injective live order book, 18 min ago	17.28 bp	37.7 bp −$38	doesn't fit	doesn't fit	doesn't fit

META on 37 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin META-USDT	−0.0120%	8h	745.00	+0.036%	$333K	$1.1M	20x	as long as short
Nado META-PERP	−0.0045%	1h	744.74	+0.001%	$480K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.26	+0.071%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.79	+0.008%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.99	+0.035%	$25.0M	$188.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.85	+0.016%	$7.3M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.96	+0.031%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.37	−0.048%	$460K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.03	+0.040%	$5.6M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.86	+0.018%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.95	+0.030%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.90	+0.023%	$548	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.45	−0.038%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.79	+0.008%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.97	+0.032%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.72	−0.001%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.31	+0.078%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.63	−0.013%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.56	+0.111%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.96	+0.031%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.43	−0.040%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.91	+0.024%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.60	−0.017%	$685K	$5.3M	10x	as long as short
edgeX METAUSDC	+0.0052%	4h	745.04	+0.041%	$62K	$342K	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	744.84	+0.015%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.96	+0.166%	$52K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.94	+0.028%	$1.6M	$684K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.59	−0.019%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.92	+0.026%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.82	+0.012%	$268	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0104%	1h	744.73	long leg	$650K	$8.0M	10x
Injective META/USDC PERPshort	+0.0220%	1h	746.56	+0.246%	$172K	$46K	30x
Lighter META	+0.0360%	1h	745.47	+0.099%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0368%	1h	745.36	+0.085%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0487%	1h	745.37	+0.086%	$77.6M	$127.8M	20x	as long as short
Phoenix META	+0.0739%	1h	746.28	+0.208%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	745.04	+0.041%	$13	$46	—	as long as short