Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.064%

Price spread now: Injective against Gate−0.113%7-day average +0.358% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$840.842% of the position

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.460%+$46 on $10k

Price spread, last 3 days (all we have)+0.301%+$30 · spread now −0.113%, 7d avg +0.358%

Together, before fees+0.761%+$76 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.471% cheaper against Gate than usual: you would sell low and buy high (spread −0.113% now, against its 7-day average of +0.358%). If the spread goes back, that is −$47 on $10k: about 7.1 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	741.50	0	get 0.0000% / 8h	5h 54m	$355K	$5.6M	100x
Short	Injective META/USDC PERP	740.66	0.0220	get 0.0028% / 1h	54m 45s	$171K	$48K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Gate. 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 GatebpFee InjectivebpOrdersPrice spread, now −0.113%Rate

Funding earned: $46.2
Price spread: −0.113% → +0.358%: −$47.12
Slippage, 4 orders: −$69.14
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$85.09
Costs to cover: 0.842%
Break-even: 19.9 days

Slippage from Gate: live order book, 4 min ago; Injective: live order book, 9 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 Gate live order book, 4 min ago	3.03 bp	18.1 bp −$18	45.4 bp −$454	doesn't fit	doesn't fit
Sell Injective live order book, 9 min ago	17.75 bp	32.5 bp −$33	doesn't fit	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0072%	1h	741.35	−0.020%	$479K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.74	+0.033%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.66	+0.022%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.89	+0.053%	$27.4M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.79	+0.039%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.30	+0.108%	$5.9M	$13.3M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	741.50	long leg	$355K	$5.6M	100x
Bitget METAUSDT	0.0000%	8h	741.96	+0.062%	$5.4M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	741.87	+0.050%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	742.09	+0.079%	$12K	$430K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	741.62	+0.016%	$1K	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.36	−0.019%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.50	0.000%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.09	+0.080%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.01	+0.069%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.55	+0.007%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.21	−0.039%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.92	+0.057%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.79	+0.039%	$177K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.54	+0.005%	$559K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.67	+0.023%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.44	−0.008%	$703K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	741.64	+0.019%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	741.96	+0.062%	$49K	$81K	10x	as long as short
edgeX METAUSDC	+0.0083%	4h	741.83	+0.044%	$62K	$334K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	740.37	−0.152%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.73	+0.031%	$1.6M	$503K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.40	−0.013%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.87	+0.050%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.63	+0.018%	$267	—	10x	as long as short
Hotstuff META-PERP	+0.0168%	1h	741.87	+0.050%	$33K	$105	20x	as long as short
Lighter META	+0.0208%	1h	741.98	+0.065%	$861K	$2.4M	20x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	740.66	−0.113%	$171K	$48K	30x
tradeXYZ xyz:META	+0.0307%	1h	741.92	+0.057%	$68.6M	$119.6M	20x	as long as short
Phoenix META	+0.0313%	1h	741.60	+0.013%	$482K	$1.1M	20x	as long as short