Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Variational Omni against ApeX Omni−0.191%7-day average +0.038% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.081%−$8 on $10k

Price spread, last 4 days (all we have)+0.233%+$23 · spread now −0.191%, 7d avg +0.038%

Together, before fees+0.152%+ Points / potential airdropVariational Omni: Active · farm board+$15 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 Variational Omni is 0.229% cheaper against ApeX Omni than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of +0.038%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni METAUSDT	745.75	0.0100	pay 0.0013% / 1h	51m 18s	$167K	$71K	50x
Short	Variational Omni META	744.33	0	get 0.0000% / 8h	7h 51m	$2.5M	$3.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.191%Rate

Funding earned: −$21
Price spread: −0.191% → +0.038%: −$22.85
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$53.85
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 45 min ago; Variational Omni: RFQ quote, 3 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 ApeX Omni live order book, 45 min ago	2.62 bp	29.1 bp −$29	374.5 bp −$3,745	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	3.73 bp	doesn't fit	19.4 bp −$194	doesn't fit	doesn't fit

META on 37 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	746.56	+0.109%	$335K	$1.1M	20x	as long as short
Nado META-PERP	−0.0039%	1h	746.65	+0.120%	$481K	$561K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.62	+0.116%	$484K	$597K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.52	+0.103%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.69	+0.127%	$25.6M	$190.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.52	+0.103%	$7.5M	$15.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.43	+0.091%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.02	+0.036%	$471K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.56	+0.109%	$5.7M	$12.4M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	744.33	−0.191%	$2.5M	$3.2M	—

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	745.97	+0.030%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.77	+0.137%	$868	$7.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.44	+0.093%	$53K	$290K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.27	+0.070%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.53	+0.105%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.94	+0.160%	$796K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	746.80	+0.141%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	746.25	+0.067%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.88	+0.152%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.80	+0.141%	$180K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.49	+0.099%	$568K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.52	+0.103%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.22	+0.063%	$725K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	746.59	+0.112%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	746.49	+0.099%	$49K	$90K	10x	as long as short
Pacifica META	+0.0100%	1h	746.36	+0.082%	$633	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.60	+0.114%	$1.6M	$746K	20x	as long as short
ApeX Omni METAUSDTlong	+0.0100%	1h	745.75	long leg	$167K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.63	+0.118%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.44	+0.093%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	746.12	+0.050%	$647K	$8.1M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.08	+0.312%	$177K	$52K	30x	as long as short
Lighter META	+0.0224%	1h	746.94	+0.160%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0302%	1h	746.57	+0.110%	$84.7M	$132.2M	20x	as long as short
Hotstuff META-PERP	+0.0400%	1h	746.84	+0.146%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0572%	4h	746.25	+0.067%	$63K	$346K	10x	as long as short
Phoenix META	+0.0791%	1h	746.41	+0.089%	$797K	$1.5M	20x	as long as short