Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.010%

Price spread now: SoDEX against Bybit−0.058%46s7-day average — · you buy dearer than you sell

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

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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 0.058% cheaper against Bybit than usual: you would sell low and buy high (spread −0.058% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 3.9 days of funding at the current rate (+$2 a day). The two prices were read 46 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	Bybit METAUSDT	742.30	0	get 0.0000% / 8h	5h 07m	$7.5M	$13.8M	100x
Short	SoDEX META-USD	741.87	0.0050	get 0.0006% / 1h	7m 30s	$24K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Bybit. 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 BybitbpFee SoDEXbpOrdersPrice spread, now −0.058%Rate

Funding earned: $10.5
Price spread: −0.058% → 0.000%: −$5.79
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$14.29
Costs to cover: 0.190%
Break-even: 16.5 days

Slippage unknown: Bybit: live order book, 6 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 Bybit live order book, 6 min ago	2.02 bp	9.9 bp −$10	18.5 bp −$185	doesn't fit	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 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	741.83	−0.063%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0019%	1h	742.09	−0.028%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.15	−0.020%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.12	−0.025%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.38	+0.011%	$27.4M	$179.3M	20x	as long as short
Bybit METAUSDTlong	0.0000%	8h	742.30	long leg	$7.5M	$13.8M	100x
OKX META-USDT-SWAP	0.0000%	8h	742.41	+0.015%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.00	−0.040%	$362K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.36	+0.008%	$5.5M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	741.73	−0.077%	$2.4M	$3.1M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	741.81	−0.066%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.94	−0.048%	$765	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.17	−0.152%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.58	−0.097%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.02	−0.038%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.47	+0.023%	$765K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	742.15	−0.020%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.49	−0.109%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.69	+0.053%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.34	+0.005%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.39	+0.012%	$559K	$540K	10x	as long as short
SoDEX META-USDshort	+0.0050%	1h	741.87	−0.058%	$24K	$3K	10x
Ondo Perps META-USD.P	+0.0050%	1h	741.33	−0.131%	$720K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0066%	8h	742.24	−0.009%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	742.40	+0.014%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.49	−0.109%	$611K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.20	−0.013%	$1.6M	$526K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.06	−0.167%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.83	−0.063%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.68	−0.084%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.65	+0.182%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	742.44	+0.019%	$33K	$105	20x	as long as short
Lighter META	+0.0264%	1h	742.50	+0.027%	$862K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0342%	1h	742.39	+0.012%	$69.3M	$120.1M	20x	as long as short
Phoenix META	+0.0496%	1h	742.66	+0.048%	$586K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0767%	4h	741.69	−0.082%	$62K	$336K	10x	as long as short