Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.065%

Price spread now: SunX against Injective−0.342%61s7-day average −0.268% · you buy dearer than you sell

Net, funding: paid 7d − costs−$170as 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−$1241.237% of the position

Long on Injective Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.461%−$46 on $10k

Price spread, last 4 days (all we have)+0.269%+$27 · spread now −0.342%, 7d avg −0.268%

Together, before fees−0.192%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and SunX is 0.073% cheaper against Injective than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.268%). Swap the legs. The two prices were read 61 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	Injective META/USDC PERP	746.67	0.0220	pay 0.0028% / 1h	12m 09s	$172K	$48K	30x
Short	SunX META-USDT	744.12	0	get 0.0000% / 8h	4h 12m	$783	$9.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.342%Rate

Funding earned: −$46.2
Price spread: −0.342% → −0.268%: −$7.35
Slippage, 4 orders: −$115.68
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: −$177.25
Costs to cover: 1.237%
Break-even: never at this rate

Slippage from Injective: live order book, 47 min ago; SunX: live order book, 7 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, 47 min ago	17.52 bp	17.5 bp −$18	9881.3 bp −$98.8K	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	28.15 bp	32.1 bp −$32	61.7 bp −$617	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	743.99	−0.359%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0012%	1h	743.06	−0.483%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.30	−0.451%	$468K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.90	−0.372%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.15	−0.338%	$28.0M	$182.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.12	−0.342%	$7.7M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.75	−0.391%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.55	−0.418%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.09	−0.346%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	743.81	−0.383%	$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	744.01	−0.357%	$13K	$443K	10x	as long as short
SunX META-USDTshort	0.0000%	8h	744.12	−0.342%	$783	$9.1M	20x
HTX META-USDT	0.0000%	8h	743.81	−0.383%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.08	−0.347%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.01	−0.356%	$775K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.78	−0.387%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.56	−0.417%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.06	−0.350%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.11	−0.343%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.61	−0.410%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.96	−0.363%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.12	−0.475%	$800K	$4.5M	10x	as long as short
Paradex META-USD-PERP	+0.0079%	8h	743.70	−0.397%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0081%	1h	744.53	−0.286%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.88	−0.374%	$1.6M	$552K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.11	−0.477%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.98	−0.360%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.80	−0.384%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	−0.390%	$615K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0176%	1h	743.85	−0.378%	$33K	$105	20x	as long as short
Injective META/USDC PERPlong	+0.0220%	1h	746.67	long leg	$172K	$48K	30x
Lighter META	+0.0272%	1h	743.99	−0.359%	$865K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0284%	1h	744.01	−0.356%	$69.7M	$120.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0329%	1h	743.58	−0.414%	$31K	$246K	10x	as long as short
edgeX METAUSDC	+0.0485%	4h	743.87	−0.375%	$62K	$338K	10x	as long as short
Phoenix META	+0.0591%	1h	744.70	−0.264%	$705K	$1.2M	20x	as long as short