Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: SunX against ApeX Omni−0.020%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$144as in the Funding arb table

Net, price: spread back to 7d avg − costs−$132as in the Price arb table

costs, in and out, $10k−$1231.233% of the position

Long on ApeX Omni Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 3 days (all we have)+0.182%+$18 · spread now −0.020%, 7d avg +0.063%

Together, before fees−0.028%−$3 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 SunX is 0.083% cheaper against ApeX Omni than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.063%). Swap the legs.

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	53m 02s	$166K	$73K	50x
Short	SunX META-USDT	740.04	0	get 0.0000% / 8h	7h 53m	$850	$9.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$21
Price spread: −0.020% → +0.063%: −$8.31
Slippage, 4 orders: −$105.31
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$152.62
Costs to cover: 1.233%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 18 min ago; SunX: live order book, 6 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, 18 min ago	2.63 bp	18.6 bp −$19	368.6 bp −$3,686	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	28.40 bp	32.4 bp −$32	doesn't fit	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	740.22	+0.004%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.88	+0.094%	$461K	$545K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.02	−0.023%	$552K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.22	+0.004%	$27.4M	$179.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.20	+0.001%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.20	+0.001%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.89	−0.041%	$357K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.14	−0.007%	$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-USDTshort	0.0000%	8h	740.04	−0.020%	$850	$9.4M	20x
HTX META-USDT	0.0000%	8h	740.07	−0.016%	$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	+0.0016%	1h	739.78	−0.055%	$384K	$334K	20x	as long as short
Lighter RH META	+0.0032%	1h	740.32	+0.018%	$758K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.31	+0.016%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.21	+0.003%	$178K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.95	−0.032%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.08	−0.015%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.36	−0.112%	$746K	$4.3M	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.99	−0.027%	$2.2M	$14.2M	10x	as long as short
Hotstuff META-PERP	+0.0056%	1h	739.80	−0.053%	$33K	$105	20x	as long as short
Arcus META-USD	+0.0063%	1h	740.08	−0.015%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0071%	8h	739.81	−0.052%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	740.59	+0.054%	$49K	$77K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.28	+0.012%	$1.6M	$411K	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	740.19	0.000%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.01	−0.024%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0123%	1h	739.92	−0.036%	$67.6M	$121.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0129%	1h	739.93	−0.035%	$30K	$253K	10x	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	740.38	+0.026%	$856K	$2.4M	20x	as long as short
Phoenix META	+0.0259%	1h	740.67	+0.065%	$287K	$930K	20x	as long as short
edgeX METAUSDC	+0.0751%	4h	740.87	+0.091%	$62K	$332K	10x	as long as short