Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0651%/8h= +71.3% APRpaid last 24h +0.067%

Price spread now: edgeX against ApeX Omni+0.091%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$780.781% of the position

Long on ApeX Omni Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.295%+$29 on $10k

Price spread, last 3 days (all we have)−0.039%−$4 · spread now +0.091%, 7d avg +0.037%

Together, before fees+0.256%+ Points / potential airdropedgeX: Active · farm board+$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and edgeX is 0.055% dearer against ApeX Omni than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.037%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.295% in total (about 15.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni METAUSDT	740.19	0.0100	pay 0.0013% / 1h	54m 35s	$166K	$73K	50x
Short	edgeX METAUSDC	740.87	0.0751	get 0.0375% / 4h	3h 54m	$62K	$332K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.091%Rate

Funding earned: $136.67
Price spread: +0.091% → +0.037%: $5.47
Slippage, 4 orders: −$59.12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $64.02
Costs to cover: 0.781%
Break-even: 3.7 days

Slippage from ApeX Omni: live order book, 16 min ago; edgeX: live order book, 19 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, 16 min ago	2.63 bp	18.6 bp −$19	368.6 bp −$3,686	doesn't fit	doesn't fit
Sell edgeX live order book, 19 min ago	5.19 bp	9.8 bp −$10	11.2 bp −$112	doesn't fit	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	740.04	−0.020%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.64	+0.061%	$461K	$545K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.68	−0.068%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.85	−0.046%	$27.4M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.88	−0.042%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.79	−0.054%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.81	−0.051%	$357K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.91	−0.038%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	740.51	+0.043%	$2.3M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.74	+0.074%	$12K	$484K	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	740.13	−0.008%	$732	$9.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.78	−0.055%	$30K	$254K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.05	−0.019%	$106K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.92	+0.099%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0015%	1h	740.08	−0.015%	$384K	$334K	20x	as long as short
Lighter RH META	+0.0032%	1h	739.94	−0.034%	$758K	$3.1M	20x	as long as short
Ondo Perps META-USD.P	+0.0036%	1h	739.05	−0.154%	$746K	$4.3M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.54	+0.047%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.86	−0.045%	$178K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.08	−0.015%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.03	−0.022%	$24K	$3K	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.73	−0.062%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	740.26	+0.009%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0072%	8h	739.40	−0.107%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0072%	1h	740.86	+0.091%	$50K	$77K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.03	−0.022%	$1.6M	$409K	20x	as long as short
ApeX Omni METAUSDTlong	+0.0100%	1h	740.19	long leg	$166K	$73K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.20	+0.001%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.98	−0.029%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0126%	1h	740.07	−0.016%	$67.6M	$121.1M	20x	as long as short
Phoenix META	+0.0129%	1h	740.67	+0.065%	$291K	$930K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	740.11	−0.011%	$602K	$7.3M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.31	+0.016%	$168K	$46K	30x	as long as short
Lighter META	+0.0248%	1h	740.08	−0.015%	$856K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0328%	1h	740.08	−0.015%	$33K	$105	20x	as long as short
edgeX METAUSDCshort	+0.0751%	4h	740.87	+0.091%	$62K	$332K	10x