Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0172%/8hnext payment +$0.21 per $10,000 · paid last 24h +0.028%

Price spread now: Injective against Popdex+0.353%7-day average +0.316% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$590.587% of the position

Long on Popdex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.139%+$14 on $10k

Price spread, last 3 days (all we have)−0.234%−$23 · spread now +0.353%, 7d avg +0.316%

Together, before fees−0.095%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Injective is 0.037% dearer against Popdex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.316%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex METAUSDT	747.48	0.0048	pay 0.0006% / 1h	4m 46s	$177K	$196K	20x
Short	Injective META/USDC PERP	750.12	0.0220	get 0.0028% / 1h	4m 46s	$170K	$43K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Popdex. 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 PopdexbpFee InjectivebpOrdersPrice spread, now +0.353%Rate

Funding earned: $36.12
Price spread: +0.353% → +0.316%: $3.72
Slippage, 4 orders: −$52.23
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$18.81
Costs to cover: 0.587%
Break-even: 10.6 days

Slippage from Popdex: live order book, 28 min ago; Injective: live order book, 28 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 Popdex live order book, 28 min ago	0.20 bp	4.4 bp −$4	7.2 bp −$72	doesn't fit	doesn't fit
Sell Injective live order book, 28 min ago	18.63 bp	31.3 bp −$31	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	746.70	−0.104%	$336K	$1.1M	20x	as long as short
Phoenix META	−0.0021%	1h	748.62	+0.153%	$314K	$622K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.69	−0.106%	$459K	$474K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.90	−0.211%	$555K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.73	−0.234%	$27.9M	$170.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.76	−0.230%	$7.8M	$13.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.88	−0.214%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.45	−0.272%	$333K	$5.1M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.94	−0.206%	$6.0M	$10.0M	100x	as long as short
Variational Omni META	0.0000%	8h	749.80	+0.311%	$1.6M	$2.4M	—	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	750.71	+0.432%	$12K	$534K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.75	−0.098%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.84	−0.086%	$28K	$259K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.32	−0.155%	$106K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	748.07	+0.079%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0009%	1h	747.53	+0.007%	$414K	$237K	20x	as long as short
QFEX META-USD	+0.0012%	1h	747.69	+0.028%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	744.86	−0.351%	$728K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	748.34	+0.115%	—	$9K	25x	as long as short
Popdex METAUSDTlong	+0.0048%	1h	747.48	long leg	$177K	$196K	20x
Coinbase International META-PERP-INTX	+0.0048%	1h	747.01	−0.063%	$625K	$7.1M	10x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	746.32	−0.155%	$73.5M	$113.8M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	747.20	−0.037%	$544K	$836K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.75	−0.098%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	748.22	+0.099%	$724K	$3.8M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	748.03	+0.073%	—	—	5x	as long as short
Lighter META	+0.0080%	1h	744.90	−0.345%	$871K	$2.6M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.88	−0.214%	$1.6M	$306K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	750.10	+0.351%	$168K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.22	−0.035%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	747.07	−0.055%	$269	—	10x	as long as short
Arcus META-USD	+0.0128%	1h	748.11	+0.084%	$266K	$311K	10x	as long as short
Hotstuff META-PERP	+0.0192%	1h	748.93	+0.194%	$33K	$105	20x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	750.12	+0.353%	$170K	$43K	30x
Aftermath Perps METAUSD	+0.0368%	1h	748.41	+0.124%	$37K	$52K	10x	as long as short
edgeX METAUSDC	+0.0976%	4h	747.70	+0.029%	$63K	$329K	10x	as long as short