Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Bybit against ApeX Omni−0.007%7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$750.754% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$18 on $10k

Price spread, last 4 days (all we have)+0.118%+$12 · spread now −0.007%, 7d avg +0.045%

Together, before fees−0.067%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.052% cheaper against ApeX Omni than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni METAUSDT	743.59	0.0100	pay 0.0013% / 1h	21m 03s	$167K	$71K	50x
Short	Bybit METAUSDT	743.54	0	get 0.0000% / 8h	6h 21m	$7.7M	$15.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$21
Price spread: −0.007% → +0.045%: −$5.19
Slippage, 4 orders: −$54.4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$101.59
Costs to cover: 0.754%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 28 min ago; Bybit: live order book, just now.

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, 28 min ago	2.62 bp	39.2 bp −$39	434.5 bp −$4,345	doesn't fit	doesn't fit
Sell Bybit live order book, just now	2.22 bp	9.9 bp −$10	18.4 bp −$184	doesn't fit	doesn't fit

META on 37 exchanges

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	743.76	+0.023%	$337K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.89	+0.175%	$495K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.47	−0.017%	$544K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.70	+0.015%	$26.0M	$192.2M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	743.54	−0.007%	$7.7M	$15.8M	100x
OKX META-USDT-SWAP	0.0000%	8h	743.70	+0.015%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.22	−0.050%	$456K	$6.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.74	+0.020%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	743.90	+0.042%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.88	+0.039%	$12K	$433K	10x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	743.98	+0.052%	$942	$7.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.36	−0.031%	$36K	$266K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.57	−0.003%	$108K	$299K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.84	+0.034%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.84	+0.034%	$821K	$2.8M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.28	−0.042%	$111K	$313K	10x	as long as short
QFEX META-USD	+0.0041%	1h	743.55	−0.005%	$2.2M	$14.1M	10x	as long as short
Nado META-PERP	+0.0041%	1h	743.44	−0.020%	$477K	$551K	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.19	+0.081%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.71	+0.016%	$179K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.36	−0.031%	$560K	$614K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.65	+0.008%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.03	−0.075%	$704K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0052%	8h	743.58	−0.002%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0074%	1h	744.42	+0.111%	$52K	$77K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	743.43	−0.022%	$652K	$7.8M	10x	as long as short
Pacifica META	+0.0100%	1h	743.72	+0.018%	$608	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.83	+0.032%	$1.6M	$836K	20x	as long as short
ApeX Omni METAUSDTlong	+0.0100%	1h	743.59	long leg	$167K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.70	+0.015%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.50	−0.012%	$268	—	10x	as long as short
Hotstuff META-PERP	+0.0176%	1h	743.77	+0.024%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.07	+0.199%	$168K	$60K	30x	as long as short
tradeXYZ xyz:META	+0.0264%	1h	743.65	+0.008%	$86.1M	$135.0M	20x	as long as short
Lighter META	+0.0272%	1h	743.96	+0.050%	$1.2M	$2.7M	20x	as long as short
Phoenix META	+0.0643%	1h	744.54	+0.128%	$795K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0795%	4h	743.85	+0.035%	$63K	$347K	10x	as long as short