Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h −0.074%

Price spread now: Ondo Perps against edgeX−0.051%54s7-day average −0.077% · you buy dearer than you sell

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

Long on edgeX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.386%−$39 on $10k

Price spread, last 3 days (all we have)+0.006%+$1 · spread now −0.051%, 7d avg −0.077%

Together, before fees−0.380%+ Points / potential airdropedgeX: Active · Ondo Perps: Active · farm board−$38 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Ondo Perps is 0.025% dearer against edgeX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.077%. Mind the row above: over the last 7 days funding on this pair cost −0.386%, so the current rate has only just turned in your favour. The two prices were read 54 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	edgeX METAUSDC	741.30	0.0013	pay 0.0007% / 4h	1h 18m	$62K	$331K	10x
Short	Ondo Perps META-USD.P	740.92	0.0050	get 0.0006% / 1h	18m 14s	$648K	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpFee Ondo PerpsbpOrdersPrice spread, now −0.051%Rate

Funding earned: $7.81
Price spread: −0.051% → −0.077%: $2.55
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$3.65
Costs to cover: 0.140%
Break-even: 10.3 days

Slippage unknown: edgeX: live order book, 65 min ago; Ondo Perps: 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 edgeX live order book, 65 min ago	5.13 bp	9.7 bp −$10	11.3 bp −$113	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	741.15	−0.020%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0078%	1h	741.04	−0.035%	$396K	$325K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	+0.062%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.06	−0.033%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.18	−0.016%	$26.9M	$178.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.07	−0.031%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.09	−0.028%	$6.0M	$13.2M	20x	as long as short
Hotstuff META-PERP	0.0000%	1h	741.20	−0.013%	$33K	$105	20x	as long as short
Gate META_USDT	0.0000%	8h	740.76	−0.073%	$343K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.16	−0.019%	$5.8M	$11.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	741.31	+0.002%	$1.6M	$2.6M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.30	0.000%	$12K	$504K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.09	−0.028%	$711	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.05	−0.034%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.42	+0.016%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	741.04	−0.035%	$2.2M	$14.2M	10x	as long as short
edgeX METAUSDClong	+0.0013%	4h	741.30	long leg	$62K	$331K	10x
Lighter RH META	+0.0032%	1h	741.43	+0.018%	$749K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.81	−0.066%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.51	+0.028%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.16	−0.019%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.26	−0.005%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.14	−0.021%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.99	−0.042%	—	—	5x	as long as short
Ondo Perps META-USD.Pshort	+0.0050%	1h	740.92	−0.051%	$648K	$4.1M	10x
Aftermath Perps METAUSD	+0.0055%	1h	742.04	+0.100%	$50K	$66K	10x	as long as short
Lighter META	+0.0064%	1h	741.40	+0.014%	$862K	$2.5M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.91	−0.052%	$606K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	741.24	−0.008%	$291K	$791K	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0087%	1h	741.21	−0.012%	$30K	$256K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.12	−0.024%	$1.6M	$365K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.95	−0.047%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.27	−0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.10	−0.027%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0106%	1h	741.25	−0.007%	$68.6M	$120.9M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.09	−0.028%	$169K	$46K	30x	as long as short