META

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0093%/8h= −10.2% APRnext payment −$0.12 per $10,000 · paid last 24h +0.005%

Price spread now: Injective against Phoenix+0.212%112s7-day average +0.314% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as 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−$660.661% of the position

Long on Phoenix Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$10 on $10k

Price spread, last 3 days (all we have)−0.023%−$2 · spread now +0.212%, 7d avg +0.314%

Together, before fees+0.073%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Injective is 0.102% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.314%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.095%, so the current rate has only just turned against you. The two prices were read 112 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	Phoenix META	740.85	0.0313	pay 0.0039% / 1h	19m 21s	$429K	$1.1M	20x
Short	Injective META/USDC PERP	742.42	0.0220	get 0.0028% / 1h	19m 21s	$171K	$48K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phoenix. 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 PhoenixbpFee InjectivebpOrdersPrice spread, now +0.212%Rate

Funding earned: −$19.53
Price spread: +0.212% → +0.314%: −$10.19
Slippage, 4 orders: −$59.09
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$95.83
Costs to cover: 0.661%
Break-even: never at this rate

Slippage from Phoenix: live order book, 4 min ago; Injective: live order book, 49 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 Phoenix live order book, 4 min ago	2.02 bp	8.0 bp −$8	15.1 bp −$151	doesn't fit	doesn't fit
Sell Injective live order book, 49 min ago	14.91 bp	35.2 bp −$35	doesn't fit	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0122%	1h	739.71	−0.154%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.51	−0.046%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.88	−0.130%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.07	−0.105%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.10	−0.101%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.73	−0.151%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.01	−0.113%	$352K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.28	−0.077%	$5.5M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	740.21	−0.086%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.46	−0.052%	$12K	$433K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.08	−0.104%	$608	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.73	−0.151%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.01	−0.113%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.79	−0.008%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.14	−0.096%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.30	−0.074%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.88	−0.131%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.45	−0.054%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.09	−0.103%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.04	−0.109%	$557K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.21	−0.086%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.99	−0.116%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	739.96	−0.120%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.89	+0.005%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.31	−0.073%	$1.6M	$485K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.56	−0.174%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.10	−0.101%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.06	−0.106%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	−0.026%	$609K	$7.2M	10x	as long as short
Lighter META	+0.0128%	1h	740.25	−0.081%	$860K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0136%	1h	740.23	−0.084%	$33K	$105	20x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	742.42	+0.212%	$171K	$48K	30x
tradeXYZ xyz:META	+0.0247%	1h	740.14	−0.096%	$68.3M	$120.0M	20x	as long as short
Phoenix METAlong	+0.0313%	1h	740.85	long leg	$429K	$1.1M	20x
edgeX METAUSDC	+0.0939%	4h	740.24	−0.082%	$62K	$335K	10x	as long as short