Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0098%/8h= −10.8% APRpaid last 24h −0.079%

Price spread now: Variational Omni against edgeX+0.127%7-day average −0.002% · you sell dearer than you buy

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

Long on edgeX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.417%−$42 on $10k

Price spread, last 4 days (all we have)−0.158%−$16 · spread now +0.127%, 7d avg −0.002%

Together, before fees−0.575%+ Points / potential airdropedgeX: Active · Variational Omni: Active · farm board−$57 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.129% dearer against edgeX than usual: you sell high and buy low (spread +0.127% now, against its 7-day average of −0.002%): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.4 days. At the pace of the last 4 days (−0.417% in total) that is about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX METAUSDC	746.55	0.0098	pay 0.0049% / 4h	3h 56m	$62K	$346K	10x
Short	Variational Omni META	747.50	0	get 0.0000% / 8h	7h 56m	$2.5M	$3.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.127%Rate

Funding earned: −$20.64
Price spread: +0.127% → −0.002%: $12.9
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$16.74
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: edgeX: live order book, 41 min ago; Variational Omni: RFQ quote, 2 min ago. 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, 41 min ago	5.50 bp	10.1 bp −$10	11.7 bp −$117	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.46 bp	doesn't fit	10.9 bp −$109	doesn't fit	doesn't fit

META on 37 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	745.36	−0.160%	$335K	$1.1M	20x	as long as short
Nado META-PERP	0.0000%	1h	745.11	−0.193%	$481K	$560K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.15	−0.188%	$483K	$597K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.25	−0.174%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.03	−0.204%	$25.4M	$189.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.65	−0.255%	$7.5M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.07	−0.333%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.23	−0.177%	$476K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.32	−0.165%	$5.7M	$12.3M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	747.50	+0.127%	$2.5M	$3.2M	—

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	745.59	−0.129%	$12K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.38	−0.157%	$571	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.95	−0.215%	$53K	$293K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.15	−0.188%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.62	−0.125%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0036%	1h	745.51	−0.140%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.16	−0.187%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.81	−0.100%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.48	−0.144%	$177K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.92	−0.219%	$566K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.36	−0.160%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.30	−0.168%	$729K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	745.26	−0.173%	—	—	5x	as long as short
Lighter RH META	+0.0080%	1h	744.34	−0.296%	$794K	$2.9M	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	745.99	−0.075%	$49K	$91K	10x	as long as short
edgeX METAUSDClong	+0.0098%	4h	746.55	long leg	$62K	$346K	10x
Pacifica META	+0.0100%	1h	745.04	−0.203%	$632	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.63	−0.124%	$1.6M	$737K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.02	−0.205%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.61	−0.126%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.40	−0.154%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	745.15	−0.188%	$644K	$7.9M	10x	as long as short
Lighter META	+0.0216%	1h	744.53	−0.271%	$1.1M	$2.8M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.51	−0.006%	$176K	$52K	30x	as long as short
tradeXYZ xyz:META	+0.0456%	1h	745.67	−0.118%	$84.7M	$132.8M	20x	as long as short
Hotstuff META-PERP	+0.0552%	1h	745.43	−0.150%	$33K	$105	20x	as long as short
Phoenix META	+0.0750%	1h	748.38	+0.245%	$799K	$1.5M	20x	as long as short