Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.035%

Price spread now: Injective against Orderly−0.070%58s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Injective

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 0.070% cheaper against Orderly than usual: you would sell low and buy high (spread −0.070% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 47 hours of funding at the current rate (+$4 a day). The two prices were read 58 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	Orderly PERP_META_USDC_mythos	741.05	0.0100	pay 0.0100% / 8h	3h 32m	$1K	$24	10x
Short	Injective META/USDC PERP	740.53	0.0220	get 0.0028% / 1h	32m 08s	$171K	$47K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Orderly. 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 OrderlybpFee InjectivebpOrdersPrice spread, now −0.070%Rate

Funding earned: $25.2
Price spread: −0.070% → 0.000%: −$7.02
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $12.16
Costs to cover: 0.060%
Break-even: 3.6 days

Slippage unknown: Orderly: no order-book sample; Injective: live order book, 17 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Injective live order book, 17 min ago	7.14 bp	24.0 bp −$24	doesn't fit	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	741.07	+0.003%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.70	+0.088%	$456K	$534K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.68	−0.050%	$561K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.87	−0.024%	$27.4M	$175.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.15	+0.013%	$7.6M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.94	−0.015%	$6.1M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.64	−0.055%	$327K	$5.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.92	−0.018%	$6.1M	$10.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.36	+0.041%	$1.7M	$2.4M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.22	+0.023%	$12K	$547K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.82	−0.031%	$768	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.78	−0.036%	$30K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.37	+0.043%	$105K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.19	+0.019%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0026%	1h	740.76	−0.040%	$349K	$286K	20x	as long as short
Lighter RH META	+0.0032%	1h	741.11	+0.008%	$737K	$3.2M	20x	as long as short
Phoenix META	+0.0032%	1h	741.32	+0.036%	$304K	$774K	20x	as long as short
QFEX META-USD	+0.0037%	1h	741.03	−0.003%	$2.2M	$14.1M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.37	+0.043%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.87	−0.024%	$177K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.89	−0.022%	$540K	$836K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.88	−0.023%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.50	−0.074%	$716K	$3.8M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	740.92	−0.018%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0061%	1h	741.75	+0.094%	$37K	$52K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0072%	1h	741.13	+0.011%	$618K	$7.3M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.82	−0.031%	$1.6M	$316K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.91	−0.019%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythoslong	+0.0100%	8h	741.05	long leg	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	740.93	−0.016%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0191%	1h	740.97	−0.011%	$69.4M	$118.9M	20x	as long as short
Lighter META	+0.0216%	1h	741.17	+0.016%	$861K	$2.6M	20x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	740.53	−0.070%	$171K	$47K	30x
Arcus META-USD	+0.0224%	1h	740.82	−0.031%	$263K	$313K	10x	as long as short
Hotstuff META-PERP	+0.0232%	1h	740.87	−0.024%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0832%	4h	741.23	+0.025%	$62K	$327K	10x	as long as short