Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.039%

Price spread now: Injective against Variational Omni−0.163%7-day average +0.307% · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.194%+$19 on $10k

Price spread, last 3 days (all we have)+0.296%+$30 · spread now −0.163%, 7d avg +0.307%

Together, before fees+0.490%+ Points / potential airdropVariational Omni: Active · farm board+$49 on $10k · with fees, hour by hour

Funding pays, the price is against you. Injective is 0.471% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.163% now, against its 7-day average of +0.307%). If the spread goes back, that is −$47 on $10k: about 7.1 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni META	741.87	0	get 0.0000% / 8h	5h 53m	$2.3M	$3.1M	—
Short	Injective META/USDC PERP	740.66	0.0220	get 0.0028% / 1h	53m 16s	$171K	$48K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee InjectivebpOrdersPrice spread, now −0.163%Rate

Funding earned: $46.2
Price spread: −0.163% → +0.307%: −$47.08
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$0.9
Costs to cover: 0.000%
Break-even: 7.1 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; 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 Variational Omni RFQ quote, 1 min ago	2.46 bp	doesn't fit	23.6 bp −$236	doesn't fit	doesn't fit
Sell Injective live order book, 10 min ago	17.75 bp	32.5 bp −$33	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	−0.0067%	1h	741.57	−0.041%	$479K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.79	−0.011%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.79	−0.011%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.97	+0.013%	$27.3M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.87	0.000%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.83	−0.006%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.57	−0.041%	$356K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.94	+0.009%	$5.4M	$11.3M	100x	as long as short
Variational Omni METAlong	0.0000%	8h	741.87	long leg	$2.3M	$3.1M	—
GRVT META_USDT_Perp	0.0000%	8h	742.09	+0.029%	$12K	$430K	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	741.78	−0.012%	$780	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.53	−0.046%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.72	−0.021%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.11	+0.032%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.02	+0.020%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.74	−0.018%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.34	−0.072%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.08	+0.028%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.95	+0.010%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.76	−0.015%	$559K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.87	0.000%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.32	−0.074%	$703K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	741.64	−0.031%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	742.39	+0.069%	$49K	$81K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	−0.007%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.74	−0.018%	$1.6M	$504K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.40	−0.064%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.94	+0.009%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.77	−0.014%	$267	—	10x	as long as short
edgeX METAUSDC	+0.0192%	4h	741.75	−0.016%	$62K	$335K	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	741.91	+0.005%	$33K	$105	20x	as long as short
Lighter META	+0.0216%	1h	742.00	+0.017%	$861K	$2.4M	20x	as long as short
Injective META/USDC PERPshort	+0.0220%	1h	740.66	−0.163%	$171K	$48K	30x
tradeXYZ xyz:META	+0.0317%	1h	742.05	+0.024%	$68.7M	$119.7M	20x	as long as short
Phoenix META	+0.0496%	1h	742.71	+0.113%	$487K	$1.1M	20x	as long as short