Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0170%/8hnext payment +$0.21 per $10,000 · paid last 24h +0.050%

Price spread now: Injective against SoDEX+0.146%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Injective is 0.146% dearer against SoDEX than usual: you sell high and buy low: +$15 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX META-USD	751.28	0.0050	pay 0.0006% / 1h	22m 58s	$25K	$3K	10x
Short	Injective META/USDC PERP	752.38	0.0220	get 0.0028% / 1h	22m 58s	$171K	$43K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SoDEX. 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 SoDEXbpFee InjectivebpOrdersPrice spread, now +0.146%Rate

Funding earned: $35.7
Price spread: +0.146% → 0.000%: $14.64
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $42.32
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SoDEX: no order-book sample; Injective: live order book, 10 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 SoDEX no order-book sample	—	—	—	—	—
Sell Injective live order book, 10 min ago	18.63 bp	31.3 bp −$31	doesn't fit	doesn't fit	doesn't fit

SoDEX: 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
Hotstuff META-PERP	−0.0144%	1h	752.11	+0.110%	$34K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	751.70	+0.056%	$337K	$1.1M	20x	as long as short
Phoenix META	−0.0021%	1h	746.59	−0.624%	$315K	$622K	20x	as long as short
Nado META-PERP	−0.0006%	1h	750.96	−0.043%	$403K	$227K	20x	as long as short
Aster METAUSDT	0.0000%	8h	751.78	+0.067%	$462K	$449K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	750.92	−0.048%	$561K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	751.41	+0.017%	$28.2M	$164.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	751.46	+0.024%	$8.1M	$12.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	750.86	−0.056%	$6.1M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	750.86	−0.056%	$338K	$5.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget METAUSDT	0.0000%	8h	750.81	−0.063%	$6.0M	$9.7M	100x	as long as short
Variational Omni META	0.0000%	8h	749.56	−0.229%	$1.6M	$2.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	750.02	−0.168%	$13K	$528K	10x	as long as short
SunX META-USDT	0.0000%	8h	751.51	+0.031%	$554	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	750.99	−0.039%	$107K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	752.05	+0.102%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	751.90	+0.083%	$2.3M	$13.4M	10x	as long as short
Lighter META	+0.0032%	1h	751.50	+0.029%	$877K	$2.5M	20x	as long as short
Lighter RH META	+0.0032%	1h	751.69	+0.055%	$742K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	752.00	+0.096%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	752.31	+0.137%	$176K	$194K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0048%	1h	752.09	+0.108%	$640K	$6.8M	10x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	751.29	+0.001%	$72.1M	$111.2M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	751.64	+0.048%	$547K	$836K	10x	as long as short
SoDEX META-USDlong	+0.0050%	1h	751.28	long leg	$25K	$3K	10x
Ondo Perps META-USD.P	+0.0050%	1h	751.90	+0.083%	$689K	$3.8M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	752.05	+0.103%	—	—	5x	as long as short
Deribit META_USDC-PERPETUAL	+0.0056%	1h	750.99	−0.039%	$28K	$259K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	750.65	−0.084%	$1.6M	$300K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	749.92	−0.181%	$168K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	751.11	−0.023%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	751.21	−0.009%	$270	—	10x	as long as short
Arcus META-USD	+0.0128%	1h	751.02	−0.035%	$267K	$311K	10x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	752.38	+0.146%	$171K	$43K	30x
Aftermath Perps METAUSD	+0.0332%	1h	749.70	−0.211%	$42K	$49K	10x	as long as short
edgeX METAUSDC	+0.0728%	4h	749.99	−0.172%	$63K	$328K	10x	as long as short