Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against Binance−0.023%7-day average — · you buy dearer than you sell

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

Long on Binance Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.023% cheaper against Binance than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 37 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance METAUSDT	742.70	0	get 0.0000% / 8h	5h 55m	$26.0M	$192.4M	20x
Short	SoDEX META-USD	742.53	0.0050	get 0.0006% / 1h	55m 00s	$24K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Binance. 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 BinancebpFee SoDEXbpOrdersPrice spread, now −0.023%Rate

Funding earned: $10.5
Price spread: −0.023% → 0.000%: −$2.29
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$9.79
Costs to cover: 0.180%
Break-even: 13.5 days

Slippage unknown: Binance: live order book, 11 min ago; SoDEX: no order-book sample. 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 Binance live order book, 11 min ago	0.07 bp	7.6 bp −$8	14.2 bp −$142	47.1 bp −$4,709	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hotstuff META-PERP	−0.1600%	1h	742.40	−0.040%	$33K	$105	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.00	+0.040%	$493K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.41	−0.038%	$548K	$3.3M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	742.70	long leg	$26.0M	$192.4M	20x
Bybit METAUSDT	0.0000%	8h	742.60	−0.013%	$7.7M	$15.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.63	−0.009%	$6.1M	$13.0M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.13	−0.077%	$454K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.58	−0.016%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	742.47	−0.032%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	742.57	−0.017%	$12K	$435K	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	742.73	+0.004%	$942	$7.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.35	−0.047%	$107K	$299K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.98	+0.038%	$2.0M	$8K	10x	as long as short
BloFin META-USDT	+0.0004%	8h	742.70	0.000%	$338K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0013%	4h	742.28	−0.057%	$62K	$347K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.61	−0.012%	$848K	$2.8M	20x	as long as short
QFEX META-USD	+0.0038%	1h	742.45	−0.034%	$2.2M	$14.0M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.19	−0.069%	$111K	$284K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.70	0.000%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.38	−0.043%	$559K	$612K	10x	as long as short
SoDEX META-USDshort	+0.0050%	1h	742.53	−0.023%	$24K	$3K	10x
Ondo Perps META-USD.P	+0.0050%	1h	741.78	−0.124%	$702K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	742.21	−0.066%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	742.00	−0.094%	$644K	$7.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0073%	1h	742.82	+0.016%	$54K	$79K	10x	as long as short
Pacifica META	+0.0100%	1h	741.97	−0.098%	$635	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.63	−0.009%	$1.6M	$864K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.73	−0.131%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.57	−0.018%	$1K	$24	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0100%	1h	742.16	−0.073%	$36K	$257K	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.32	−0.052%	$267	—	10x	as long as short
Popdex METAUSDT	+0.0128%	1h	742.72	+0.003%	$179K	$200K	20x	as long as short
Nado META-PERP	+0.0135%	1h	742.00	−0.095%	$476K	$552K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.93	+0.031%	$168K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0300%	1h	742.57	−0.018%	$86.0M	$135.4M	20x	as long as short
Lighter META	+0.0392%	1h	742.70	0.000%	$1.2M	$2.6M	20x	as long as short
Phoenix META	+0.0643%	1h	743.08	+0.051%	$793K	$1.5M	20x	as long as short