Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.006%

Price spread now: Bybit against Aevo+0.033%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Bybit

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

The price spread pays, funding is against you. Bybit is 0.033% dearer against Aevo than usual: you sell high and buy low (spread +0.033% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo META-PERP	741.12	0.0104	pay 0.0013% / 1h	38m 46s	$267	—	10x
Short	Bybit METAUSDT	741.37	0	get 0.0000% / 8h	5h 38m	$7.5M	$13.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aevo. 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 AevobpFee BybitbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$21.84
Price spread: +0.033% → 0.000%: $3.32
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$45.52
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Bybit: live order book, 5 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 Aevo no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	1.69 bp	10.6 bp −$11	17.1 bp −$171	doesn't fit	doesn't fit

Aevo: 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	741.25	+0.017%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0032%	1h	740.67	−0.061%	$479K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.58	+0.062%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.26	+0.018%	$549K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.33	+0.029%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	741.37	+0.033%	$7.5M	$13.7M	100x
OKX META-USDT-SWAP	0.0000%	8h	741.36	+0.032%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.08	−0.006%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.42	+0.040%	$5.4M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.13	+0.001%	$2.3M	$3.1M	—	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	741.50	+0.051%	$12K	$432K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.32	+0.027%	$676	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.96	−0.022%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.16	+0.005%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.21	+0.012%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.63	+0.068%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.10	−0.003%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	740.83	−0.040%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.51	+0.052%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.35	+0.031%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.18	+0.008%	$558K	$542K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.26	+0.018%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.26	−0.117%	$702K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	741.20	+0.010%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0075%	1h	742.15	+0.138%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	+0.094%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.59	+0.063%	$1.6M	$510K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.95	−0.023%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.32	+0.027%	$1K	$24	10x	as long as short
Aevo META-PERPlong	+0.0104%	1h	741.12	long leg	$267	—	10x
Injective META/USDC PERP	+0.0220%	1h	743.52	+0.323%	$171K	$48K	30x	as long as short
Lighter META	+0.0248%	1h	741.59	+0.063%	$861K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0256%	1h	741.29	+0.022%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0346%	1h	741.52	+0.053%	$69.2M	$120.1M	20x	as long as short
Phoenix META	+0.0496%	1h	742.14	+0.137%	$517K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0560%	4h	741.14	+0.003%	$62K	$335K	10x	as long as short