Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0068%/8h= −7.5% APRpaid last 24h −0.012%

Price spread now: Variational Omni against Aftermath Perps−0.041%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 Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.041% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps METAUSD	741.29	0.0068	pay 0.0009% / 1h	27m 26s	$49K	$80K	10x
Short	Variational Omni META	740.98	0	get 0.0000% / 8h	6h 27m	$2.3M	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.041%Rate

Funding earned: −$14.31
Price spread: −0.041% → 0.000%: −$4.13
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$27.44
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Variational Omni: RFQ quote, 2 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 2 min ago	2.46 bp	doesn't fit	19.1 bp −$191	doesn't fit	doesn't fit

Aftermath Perps: 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 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	−0.0143%	1h	740.04	−0.168%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.46	−0.112%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.19	−0.148%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.48	−0.109%	$27.3M	$179.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.35	−0.126%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.20	−0.147%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.22	−0.144%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.43	−0.116%	$5.5M	$11.3M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	740.98	−0.041%	$2.3M	$3.1M	—
GRVT META_USDT_Perp	0.0000%	8h	740.59	−0.094%	$12K	$432K	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	740.49	−0.107%	$1K	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.20	−0.147%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.21	−0.145%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.93	−0.048%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.12	−0.157%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.53	−0.102%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.27	−0.137%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.64	−0.087%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.43	−0.116%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.18	−0.149%	$558K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.56	−0.098%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.93	−0.183%	$700K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	740.08	−0.163%	—	—	5x	as long as short
Aftermath Perps METAUSDlong	+0.0068%	1h	741.29	long leg	$49K	$80K	10x
KuCoin METAUSDTM	+0.0100%	8h	740.39	−0.121%	$1.6M	$482K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.11	−0.159%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.41	−0.118%	$1K	$24	10x	as long as short
Lighter META	+0.0104%	1h	740.46	−0.111%	$856K	$2.4M	20x	as long as short
Aevo META-PERP	+0.0104%	1h	740.34	−0.128%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	−0.085%	$609K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0112%	1h	740.41	−0.118%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.42	−0.117%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0234%	1h	740.32	−0.130%	$68.3M	$120.3M	20x	as long as short
Phoenix META	+0.0313%	1h	741.84	+0.075%	$412K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0989%	4h	740.88	−0.055%	$62K	$334K	10x	as long as short