Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.026%

Price spread now: Bitget against ApeX Omni+0.227%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$780.777% of the position

Long on ApeX Omni Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.206%−$21 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now +0.227%, 7d avg +0.043%

Together, before fees−0.341%−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.183% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.227% now, against its 7-day average of +0.043%): +$18 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni METAUSDT	745.25	0.0100	pay 0.0013% / 1h	30m 58s	$167K	$71K	50x
Short	Bitget METAUSDT	746.94	0	get 0.0000% / 8h	3h 30m	$5.5M	$11.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against ApeX Omni. 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 ApeX OmnibpFee BitgetbpOrdersPrice spread, now +0.227%Rate

Funding earned: −$21
Price spread: +0.227% → +0.043%: $18.34
Slippage, 4 orders: −$55.66
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$80.31
Costs to cover: 0.777%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 20 min ago; Bitget: live order book, 3 min ago.

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 ApeX Omni live order book, 20 min ago	2.62 bp	28.9 bp −$29	371.1 bp −$3,711	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	1.00 bp	10.3 bp −$10	18.3 bp −$183	48.6 bp −$4,863	doesn't fit

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	747.42	+0.291%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.31	+0.143%	$470K	$555K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.49	+0.167%	$553K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.71	+0.196%	$28.6M	$183.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.08	+0.246%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.19	+0.260%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.55	+0.174%	$380K	$5.8M	100x	as long as short
Bitget METAUSDTshort	0.0000%	8h	746.94	+0.227%	$5.5M	$11.9M	100x
Variational Omni META	0.0000%	8h	746.88	+0.219%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.29	+0.140%	$12K	$454K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.75	+0.201%	$886	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.12	+0.117%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.78	+0.205%	$107K	$302K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.73	+0.199%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0007%	1h	747.15	+0.255%	$483K	$553K	20x	as long as short
Lighter RH META	+0.0032%	1h	747.07	+0.244%	$784K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.12	+0.117%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.29	+0.274%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	747.17	+0.258%	$588K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.85	+0.215%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.43	+0.158%	$792K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	747.18	+0.259%	$2.2M	$13.8M	10x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	746.77	+0.204%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.46	+0.162%	$1.6M	$612K	20x	as long as short
ApeX Omni METAUSDTlong	+0.0100%	1h	745.25	long leg	$167K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.06	+0.243%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.83	+0.213%	$269	—	10x	as long as short
Paradex META-USD-PERP	+0.0109%	8h	747.33	+0.279%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.61	+0.182%	$640K	$7.4M	10x	as long as short
Popdex METAUSDT	+0.0144%	1h	747.35	+0.282%	$180K	$199K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.72	+0.063%	$172K	$48K	30x	as long as short
Lighter META	+0.0288%	1h	747.04	+0.240%	$867K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0360%	1h	746.87	+0.217%	$70.5M	$121.1M	20x	as long as short
Hotstuff META-PERP	+0.0392%	1h	747.18	+0.259%	$33K	$105	20x	as long as short
Phoenix META	+0.0633%	1h	747.24	+0.267%	$798K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0832%	4h	746.16	+0.123%	$62K	$339K	10x	as long as short