Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.026%

Price spread now: ApeX Omni against Bitget−0.066%53s7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$500.503% of the position

Long on Bitget Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.206%+$21 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now −0.066%, 7d avg −0.042%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.025% cheaper against Bitget than usual: you would sell low and buy high (spread −0.066% now, against its 7-day average of −0.042%). If the spread goes back, that is −$2 on $10k: about 20 hours of funding at the current rate (+$3 a day). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget METAUSDT	740.36	0	get 0.0000% / 8h	6h 22m	$5.5M	$11.3M	100x
Short	ApeX Omni METAUSDT	739.87	0.0100	get 0.0013% / 1h	22m 36s	$166K	$71K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bitget. 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 BitgetbpFee ApeX OmnibpOrdersPrice spread, now −0.066%Rate

Funding earned: $21
Price spread: −0.066% → −0.042%: −$2.47
Slippage, 4 orders: −$28.28
Fee Bitget: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$31.74
Costs to cover: 0.503%
Break-even: 17.6 days

Slippage from Bitget: live order book, 1 min ago; ApeX Omni: live order book, 43 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 Bitget live order book, 1 min ago	1.22 bp	8.8 bp −$9	17.9 bp −$179	33.0 bp −$3,303	doesn't fit
Sell ApeX Omni live order book, 43 min ago	2.63 bp	16.1 bp −$16	497.8 bp −$4,978	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0134%	1h	740.15	−0.029%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.57	+0.028%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.86	−0.067%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.29	−0.009%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.11	−0.034%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.02	−0.046%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.11	−0.034%	$352K	$5.6M	100x	as long as short
Bitget METAUSDTlong	0.0000%	8h	740.36	long leg	$5.5M	$11.3M	100x
Variational Omni META	0.0000%	8h	740.67	+0.042%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.40	+0.006%	$12K	$431K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.39	+0.004%	$876	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.93	−0.058%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.18	−0.024%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.83	+0.063%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.16	−0.027%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.71	+0.047%	$751K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.09	−0.036%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.55	+0.026%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.27	−0.012%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.20	−0.022%	$558K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.44	+0.011%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.99	−0.050%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	739.71	−0.087%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	741.29	+0.125%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.42	+0.008%	$1.6M	$483K	20x	as long as short
ApeX Omni METAUSDTshort	+0.0100%	1h	739.87	−0.066%	$166K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.35	−0.001%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.16	−0.027%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.041%	$609K	$7.2M	10x	as long as short
Lighter META	+0.0120%	1h	740.45	+0.012%	$856K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.43	+0.009%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.42	+0.278%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0242%	1h	740.50	+0.019%	$68.4M	$120.0M	20x	as long as short
Phoenix META	+0.0313%	1h	741.24	+0.119%	$421K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0851%	4h	740.34	−0.002%	$62K	$334K	10x	as long as short