Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.008%

Price spread now: Orderly against Aftermath Perps−0.106%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Orderly

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

Funding pays, the price is against you. Orderly is 0.106% cheaper against Aftermath Perps than usual: you would sell low and buy high (spread −0.106% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 15 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps METAUSD	742.13	0.0076	pay 0.0010% / 1h	34m 19s	$50K	$82K	10x
Short	Orderly PERP_META_USDC_mythos	741.34	0.0100	get 0.0100% / 8h	5h 34m	$1K	$24	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Aftermath Perps. 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 Aftermath PerpsbpFee OrderlybpOrdersPrice spread, now −0.106%Rate

Funding earned: $5
Price spread: −0.106% → 0.000%: −$10.61
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$20.61
Costs to cover: 0.150%
Break-even: 35.9 days

Slippage unknown: Aftermath Perps: no order-book sample; Orderly: no order-book sample. 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Aftermath Perps and Orderly: 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	741.41	−0.097%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0037%	1h	741.01	−0.151%	$479K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.66	−0.064%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.20	−0.125%	$549K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.50	−0.085%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.38	−0.101%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.35	−0.105%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.98	−0.155%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.40	−0.098%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.13	−0.134%	$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	741.23	−0.121%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.29	−0.113%	$1K	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.82	−0.176%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.36	−0.103%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.39	−0.099%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.68	−0.060%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.20	−0.125%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	740.85	−0.172%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.51	−0.083%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.40	−0.098%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.12	−0.136%	$558K	$539K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.37	−0.102%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.67	−0.196%	$702K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	741.18	−0.127%	—	—	5x	as long as short
Aftermath Perps METAUSDlong	+0.0076%	1h	742.13	long leg	$50K	$82K	10x
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	−0.041%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.44	−0.093%	$1.6M	$511K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.43	−0.229%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythosshort	+0.0100%	8h	741.34	−0.106%	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	741.24	−0.119%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.52	+0.188%	$171K	$48K	30x	as long as short
Lighter META	+0.0248%	1h	741.63	−0.067%	$861K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0248%	1h	741.42	−0.095%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0340%	1h	741.48	−0.087%	$69.2M	$120.1M	20x	as long as short
edgeX METAUSDC	+0.0464%	4h	741.05	−0.145%	$62K	$336K	10x	as long as short
Phoenix META	+0.0496%	1h	741.90	−0.031%	$526K	$1.1M	20x	as long as short