Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h +0.024%

Price spread now: Orderly against Coinbase International−0.001%7-day average — · you buy dearer than you sell

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

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	740.52	0.0144	pay 0.0018% / 1h	55m 55s	$608K	$7.3M	10x
Short	Orderly PERP_META_USDC_mythos	740.51	0.0100	get 0.0100% / 8h	7h 55m	$1K	$24	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Coinbase International. 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 Coinbase InternationalbpFee OrderlybpOrdersPrice spread, now −0.001%Rate

Funding earned: −$9.24
Price spread: −0.001% → 0.000%: −$0.14
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$25.38
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 3 min ago; Orderly: 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 Coinbase International live order book, 3 min ago	5.40 bp	10.5 bp −$11	14.9 bp −$149	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	740.72	+0.027%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.93	+0.055%	$461K	$546K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.31	−0.028%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.38	−0.019%	$27.4M	$179.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.36	−0.022%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.41	−0.015%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.19	−0.045%	$354K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.45	−0.009%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	740.51	−0.002%	$2.3M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.01	+0.066%	$12K	$482K	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-USDT	0.0000%	8h	740.75	+0.031%	$696	$9.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.21	−0.042%	$30K	$254K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.27	−0.034%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.92	+0.054%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0003%	1h	740.14	−0.051%	$384K	$332K	20x	as long as short
Lighter RH META	+0.0032%	1h	740.73	+0.028%	$760K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.81	+0.039%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.51	−0.001%	$178K	$194K	20x	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	739.93	−0.080%	$746K	$4.3M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.56	+0.005%	$2.2M	$14.3M	10x	as long as short
Arcus META-USD	+0.0063%	1h	740.57	+0.007%	$110K	$331K	10x	as long as short
Aftermath Perps METAUSD	+0.0072%	1h	740.86	+0.047%	$50K	$77K	10x	as long as short
Paradex META-USD-PERP	+0.0073%	8h	740.38	−0.019%	—	—	5x	as long as short
Polymarket Perps META-USD	+0.0080%	1h	740.32	−0.027%	$558K	$857K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.70	+0.024%	$1.6M	$409K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.44	−0.011%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythosshort	+0.0100%	8h	740.51	−0.001%	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	740.23	−0.040%	$266	—	10x	as long as short
Phoenix META	+0.0129%	1h	741.01	+0.066%	$291K	$797K	20x	as long as short
Coinbase International META-PERP-INTXlong	+0.0144%	1h	740.52	long leg	$608K	$7.3M	10x
Injective META/USDC PERP	+0.0220%	1h	740.31	−0.028%	$168K	$46K	30x	as long as short
tradeXYZ xyz:META	+0.0250%	1h	740.33	−0.026%	$67.7M	$122.9M	20x	as long as short
Hotstuff META-PERP	+0.0256%	1h	740.33	−0.026%	$33K	$105	20x	as long as short
Lighter META	+0.0272%	1h	740.79	+0.036%	$858K	$2.4M	20x	as long as short
edgeX METAUSDC	+0.0910%	4h	740.71	+0.026%	$62K	$335K	10x	as long as short