Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.038%
Price spread now: Popdex against Injective−0.398%7-day average −0.286% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$75as in the Price arb table
costs, in and out, $10k−$640.637% of the position
Funding, last 4 days (all we have)−0.159%−$16 on $10k
+Price spread, last 4 days (all we have)+0.254%+$25 · spread now −0.398%, 7d avg −0.286%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Popdex is 0.112% cheaper against Injective than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.286%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective META/USDC PERP | 748.43 | 0.0220 | pay 0.0028% / 1h | 47m 11s | $173K | $46K | 30x |
| Short | Popdex METAUSDT | 745.45 | 0.0120 | get 0.0015% / 1h | 47m 11s | $179K | $199K | 20x |
Injective META/USDC PERP
Popdex METAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Popdex against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$21
- Price spread: −0.398% → −0.286%
- −$11.25
- Slippage, 4 orders
- −$57.29
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Popdex: 3.2 bp × 2 orders
- −$6.4
- Net
- −$95.96
- Costs to cover
- 0.637%
- Break-even
- never at this rate
Slippage from Injective: live order book, 2 min ago; Popdex: 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, 2 min ago | 19.96 bp | 20.0 bp −$20 | 9885.4 bp −$98.9K | doesn't fit | doesn't fit |
| Sell Popdex live order book, 2 min ago | 0.40 bp | 5.0 bp −$5 | 9.5 bp −$95 | 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-USDT | −0.0120% | 8h | 745.63 | −0.374% | $333K | $1.1M | 20x | as long as short |
| Aster METAUSDT | 0.0000% | 8h | 746.09 | −0.312% | $492K | $577K | 20x | as long as short |
| Extended META_24_5-USD | 0.0000% | 1h | 745.12 | −0.442% | $547K | $2.7M | 17x | as long as short |
| Binance METAUSDT | 0.0000% | 8h | 745.18 | −0.435% | $28.3M | $181.2M | 20x | as long as short |
| Bybit METAUSDT | 0.0000% | 8h | 745.24 | −0.426% | $7.4M | $14.9M | 100x | as long as short |
| OKX META-USDT-SWAP | 0.0000% | 8h | 745.29 | −0.420% | $6.0M | $12.6M | 20x | as long as short |
| Gate META_USDT | 0.0000% | 8h | 744.82 | −0.482% | $430K | $5.9M | 100x | as long as short |
| Variational Omni META | 0.0000% | 8h | 745.99 | −0.326% | $2.4M | $3.2M | — | as long as short |
| GRVT META_USDT_Perp | 0.0000% | 8h | 746.12 | −0.309% | $12K | $448K | 10x | as long as short |
| SunX META-USDT | 0.0000% | 8h | 745.56 | −0.383% | $795 | $8.5M | 20x | as long as short |
BloFin META-USDT
Aster METAUSDT
Extended META_24_5-USD
Binance METAUSDT
Bybit METAUSDT
OKX META-USDT-SWAP
Gate META_USDT
Variational Omni META
GRVT META_USDT_Perp
SunX META-USDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit META_USDC-PERPETUAL | 0.0000% | 1h | 744.46 | −0.530% | $31K | $256K | 10x | as long as short |
| HTX META-USDT | 0.0000% | 8h | 745.64 | −0.373% | $106K | $305K | 30x | as long as short |
| Phemex METAUSDT | 0.0000% | 4h | 746.13 | −0.307% | $2.0M | $8K | 10x | as long as short |
| Arcus META-USD | +0.0040% | 1h | 745.27 | −0.422% | $111K | $331K | 10x | as long as short |
| Vest META-USD-PERP | +0.0046% | 1h | 745.55 | −0.385% | — | $11K | 25x | as long as short |
| QFEX META-USD | +0.0046% | 1h | 745.33 | −0.414% | $2.2M | $13.7M | 10x | as long as short |
| Polymarket Perps META-USD | +0.0050% | 1h | 744.94 | −0.466% | $586K | $564K | 10x | as long as short |
| SoDEX META-USD | +0.0050% | 1h | 745.40 | −0.405% | $25K | $3K | 10x | as long as short |
| Ondo Perps META-USD.P | +0.0050% | 1h | 744.66 | −0.504% | $759K | $4.5M | 10x | as long as short |
| Nado META-PERP | +0.0052% | 1h | 745.00 | −0.459% | $482K | $556K | 20x | as long as short |
| Lighter RH META | +0.0056% | 1h | 745.25 | −0.425% | $768K | $2.9M | 20x | as long as short |
| Bitget METAUSDT | +0.0060% | 8h | 745.56 | −0.383% | $5.4M | $11.9M | 100x | as long as short |
| Paradex META-USD-PERP | +0.0075% | 8h | 745.27 | −0.422% | — | — | 5x | as long as short |
| Aftermath Perps METAUSD | +0.0087% | 1h | 746.05 | −0.318% | $52K | $82K | 10x | as long as short |
| KuCoin METAUSDTM | +0.0100% | 8h | 745.47 | −0.395% | $1.6M | $633K | 20x | as long as short |
| ApeX Omni METAUSDT | +0.0100% | 1h | 745.03 | −0.454% | $167K | $72K | 50x | as long as short |
| Orderly PERP_META_USDC_mythos | +0.0100% | 8h | 745.36 | −0.410% | $1K | $24 | 10x | as long as short |
| Aevo META-PERP | +0.0104% | 1h | 745.24 | −0.426% | $268 | — | 10x | as long as short |
| Popdex METAUSDTshort | +0.0120% | 1h | 745.45 | −0.398% | $179K | $199K | 20x | |
| Coinbase International META-PERP-INTX | +0.0128% | 1h | 746.41 | −0.270% | $671K | $7.6M | 10x | as long as short |
| Injective META/USDC PERPlong | +0.0220% | 1h | 748.43 | long leg | $173K | $46K | 30x | |
| edgeX METAUSDC | +0.0232% | 4h | 745.42 | −0.402% | $62K | $340K | 10x | as long as short |
| Lighter META | +0.0360% | 1h | 745.30 | −0.418% | $983K | $2.5M | 20x | as long as short |
| Hotstuff META-PERP | +0.0456% | 1h | 745.68 | −0.367% | $33K | $105 | 20x | as long as short |
| tradeXYZ xyz:META | +0.0523% | 1h | 745.72 | −0.362% | $72.4M | $122.7M | 20x | as long as short |
| Phoenix META | +0.0685% | 1h | 746.70 | −0.231% | $797K | $1.4M | 20x | as long as short |
Deribit META_USDC-PERPETUAL
HTX META-USDT
Phemex METAUSDT
Arcus META-USD
Vest META-USD-PERP
QFEX META-USD
Polymarket Perps META-USD
SoDEX META-USD
Ondo Perps META-USD.P
Nado META-PERP
Lighter RH META
Bitget METAUSDT
Paradex META-USD-PERP
Aftermath Perps METAUSD
KuCoin METAUSDTM
ApeX Omni METAUSDT
Orderly PERP_META_USDC_mythos
Aevo META-PERP
Coinbase International META-PERP-INTX
edgeX METAUSDC
Lighter META
Hotstuff META-PERP
tradeXYZ xyz:META
Phoenix META