Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0340%/8h= −37.2% APRpaid last 24h −0.070%

Price spread now: BloFin against Injective+0.111%7-day average −0.284% · you sell dearer than you buy

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$670.670% of the position

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.645%−$64 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.111%, 7d avg −0.284%

Together, before fees−0.709%−$71 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.395% dearer against Injective than usual: you sell high and buy low (spread +0.111% now, against its 7-day average of −0.284%): +$39 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective META/USDC PERP	741.40	0.0220	pay 0.0028% / 1h	25m 52s	$171K	$48K	30x
Short	BloFin META-USDT	742.22	−0.0120	pay 0.0120% / 8h	5h 25m	$328K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Injective. 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 InjectivebpFee BloFinbpOrdersPrice spread, now +0.111%Rate

Funding earned: −$71.4
Price spread: +0.111% → −0.284%: $39.45
Slippage, 4 orders: −$54.98
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$98.95
Costs to cover: 0.670%
Break-even: never at this rate

Slippage from Injective: live order book, 38 min ago; BloFin: live order book, 1 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 Injective live order book, 38 min ago	17.75 bp	17.8 bp −$18	9882.4 bp −$98.8K	doesn't fit	doesn't fit
Sell BloFin live order book, 1 min ago	0.47 bp	7.6 bp −$8	14.6 bp −$146	doesn't fit	doesn't fit

META on 36 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-USDTshort	−0.0120%	8h	742.22	+0.111%	$328K	$1.1M	20x
Nado META-PERP	−0.0024%	1h	741.65	+0.034%	$479K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.77	+0.049%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.13	+0.099%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.31	+0.122%	$27.4M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.14	+0.100%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.34	+0.127%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.85	+0.061%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.25	+0.115%	$5.5M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	742.17	+0.104%	$2.4M	$3.1M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	742.16	+0.102%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.40	+0.135%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.18	+0.105%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.55	+0.155%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.47	+0.144%	$765K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	742.00	+0.081%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.68	+0.038%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.29	+0.120%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.32	+0.124%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.95	+0.074%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.24	+0.113%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.34	−0.008%	$721K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	742.05	+0.087%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.62	+0.164%	$50K	$82K	10x	as long as short
edgeX METAUSDC	+0.0086%	4h	742.47	+0.144%	$62K	$334K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.03	+0.085%	$624K	$7.2M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.26	+0.116%	$1.6M	$519K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.72	+0.043%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.23	+0.112%	$1K	$24	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0101%	1h	741.93	+0.071%	$31K	$245K	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.01	+0.083%	$267	—	10x	as long as short
Injective META/USDC PERPlong	+0.0220%	1h	741.40	long leg	$171K	$48K	30x
Hotstuff META-PERP	+0.0256%	1h	742.23	+0.112%	$33K	$105	20x	as long as short
Lighter META	+0.0264%	1h	742.46	+0.143%	$862K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0348%	1h	742.06	+0.089%	$69.2M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	743.31	+0.258%	$544K	$1.1M	20x	as long as short