Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.057%

Price spread now: Injective against OKX+0.431%78s7-day average +0.297% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as 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−$760.757% of the position

Long on OKX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.453%+$45 on $10k

Price spread, last 4 days (all we have)−0.283%−$28 · spread now +0.431%, 7d avg +0.297%

Together, before fees+0.170%+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 0.134% dearer against OKX than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.297%. The two prices were read 78 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	OKX META-USDT-SWAP	745.22	0	get 0.0000% / 8h	2h 48m	$6.0M	$12.6M	20x
Short	Injective META/USDC PERP	748.43	0.0220	get 0.0028% / 1h	48m 01s	$173K	$46K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against OKX. 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 OKXbpFee InjectivebpOrdersPrice spread, now +0.431%Rate

Funding earned: $46.2
Price spread: +0.431% → +0.297%: $13.42
Slippage, 4 orders: −$65.73
Fee OKX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$16.13
Costs to cover: 0.757%
Break-even: 9.4 days

Slippage from OKX: live order book, just now; Injective: 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 OKX live order book, just now	0.74 bp	11.5 bp −$12	20.3 bp −$203	doesn't fit	doesn't fit
Sell Injective live order book, 1 min ago	19.96 bp	35.1 bp −$35	doesn't fit	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	745.42	+0.027%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.49	+0.171%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.22	+0.001%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.50	+0.038%	$28.3M	$181.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.47	+0.034%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	745.22	long leg	$6.0M	$12.6M	20x
Gate META_USDT	0.0000%	8h	744.92	−0.040%	$430K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	745.99	+0.103%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.12	+0.120%	$12K	$448K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.56	+0.046%	$775	$8.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.88	−0.046%	$31K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.25	+0.004%	$106K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.15	+0.125%	$2.0M	$8K	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.39	+0.023%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.43	+0.028%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.24	+0.003%	$2.2M	$13.7M	10x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.91	−0.042%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.36	+0.019%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.71	−0.068%	$759K	$4.5M	10x	as long as short
Nado META-PERP	+0.0054%	1h	744.80	−0.056%	$481K	$557K	20x	as long as short
Lighter RH META	+0.0064%	1h	745.62	+0.054%	$768K	$2.9M	20x	as long as short
Bitget METAUSDT	+0.0067%	8h	745.62	+0.054%	$5.5M	$11.9M	100x	as long as short
Paradex META-USD-PERP	+0.0074%	8h	745.08	−0.019%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.05	+0.112%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.55	+0.044%	$1.6M	$633K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.03	−0.025%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.36	+0.019%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.30	+0.011%	$268	—	10x	as long as short
Popdex METAUSDT	+0.0120%	1h	745.44	+0.030%	$179K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	+0.160%	$671K	$7.6M	10x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	748.43	+0.431%	$173K	$46K	30x
Lighter META	+0.0368%	1h	745.66	+0.059%	$983K	$2.5M	20x	as long as short
Hotstuff META-PERP	+0.0472%	1h	745.92	+0.094%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0524%	4h	745.99	+0.104%	$62K	$339K	10x	as long as short
tradeXYZ xyz:META	+0.0525%	1h	745.74	+0.070%	$72.4M	$122.7M	20x	as long as short
Phoenix META	+0.0685%	1h	746.70	+0.199%	$797K	$1.4M	20x	as long as short