Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.035%

Price spread now: KuCoin against Injective−0.160%7-day average −0.320% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$880.879% of the position

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.251%−$25 on $10k

Price spread, last 4 days (all we have)−0.171%−$17 · spread now −0.160%, 7d avg −0.320%

Together, before fees−0.422%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.160% dearer against Injective than usual: you sell high and buy low (spread −0.160% now, against its 7-day average of −0.320%): +$16 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 4.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective META/USDC PERP	745.07	0.0220	pay 0.0028% / 1h	16m 25s	$168K	$60K	30x
Short	KuCoin METAUSDTM	743.88	0.0100	get 0.0100% / 8h	6h 16m	$1.6M	$841K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.160%Rate

Funding earned: −$25.2
Price spread: −0.160% → −0.320%: $16.04
Slippage, 4 orders: −$75.89
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$97.07
Costs to cover: 0.879%
Break-even: never at this rate

Slippage from Injective: live order book, 35 min ago; KuCoin: live order book, 2 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, 35 min ago	9.99 bp	10.0 bp −$10	10.0 bp −$100	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	3.36 bp	33.9 bp −$34	doesn't fit	doesn't fit	doesn't fit

META on 37 exchanges

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	743.84	−0.165%	$337K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.09	+0.003%	$495K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.68	−0.186%	$544K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.93	−0.153%	$26.0M	$192.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.92	−0.154%	$7.7M	$15.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.82	−0.168%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.58	−0.200%	$456K	$6.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.97	−0.148%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	743.55	−0.204%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.77	−0.175%	$12K	$433K	10x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	744.08	−0.133%	$928	$7.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.51	−0.209%	$36K	$265K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.63	−0.193%	$108K	$299K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.03	−0.140%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.01	−0.142%	$821K	$2.8M	20x	as long as short
Nado META-PERP	+0.0036%	1h	743.50	−0.210%	$477K	$551K	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.49	−0.212%	$111K	$284K	10x	as long as short
QFEX META-USD	+0.0041%	1h	743.78	−0.173%	$2.2M	$14.0M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.25	−0.110%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.06	−0.136%	$179K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.80	−0.170%	$560K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.78	−0.173%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.27	−0.242%	$705K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0052%	8h	743.66	−0.189%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0074%	1h	744.42	−0.087%	$52K	$77K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	743.27	−0.242%	$643K	$7.7M	10x	as long as short
Pacifica META	+0.0100%	1h	743.87	−0.161%	$634	$2K	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	743.88	−0.160%	$1.6M	$841K	20x
ApeX Omni METAUSDT	+0.0100%	1h	743.26	−0.243%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.81	−0.169%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.66	−0.190%	$268	—	10x	as long as short
edgeX METAUSDC	+0.0121%	4h	743.52	−0.208%	$62K	$349K	10x	as long as short
Hotstuff META-PERP	+0.0152%	1h	743.83	−0.166%	$33K	$105	20x	as long as short
Injective META/USDC PERPlong	+0.0220%	1h	745.07	long leg	$168K	$60K	30x
tradeXYZ xyz:META	+0.0250%	1h	743.98	−0.146%	$86.1M	$135.1M	20x	as long as short
Lighter META	+0.0264%	1h	744.12	−0.128%	$1.2M	$2.7M	20x	as long as short
Phoenix META	+0.0643%	1h	744.36	−0.095%	$795K	$1.5M	20x	as long as short