Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.122%

Price spread now: Orderly against Extended+0.008%7-day average — · you sell dearer than you buy

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

Long on Extended 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—+ Points / potential airdropExtended: Active · farm boardneeds 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: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended META_24_5-USD	740.17	0	get 0.0000% / 1h	6m 44s	$550K	$2.7M	17x
Short	Orderly PERP_META_USDC_mythos	740.23	0.0100	get 0.0100% / 8h	7h 06m	$1K	$24	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Extended. 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 ExtendedbpFee OrderlybpOrdersPrice spread, now +0.008%Rate

Funding earned: $21
Price spread: +0.008% → 0.000%: $0.77
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: $10.77
Costs to cover: 0.110%
Break-even: 3.4 days

Slippage unknown: Extended: live order book, 2 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 Extended live order book, 2 min ago	0.54 bp	5.6 bp −$6	21.6 bp −$216	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	740.40	+0.031%	$326K	$1.1M	20x	as long as short
Nado META-PERP	−0.0082%	1h	739.97	−0.028%	$450K	$464K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.04	−0.018%	$466K	$549K	20x	as long as short
Extended META_24_5-USDlong	0.0000%	1h	740.17	long leg	$550K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	740.65	+0.064%	$27.4M	$179.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.09	+0.124%	$7.6M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.74	+0.077%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.16	−0.002%	$349K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.42	+0.033%	$5.6M	$11.2M	100x	as long as short
Variational Omni META	0.0000%	8h	739.81	−0.049%	$2.4M	$3.3M	—	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	740.13	−0.006%	$12K	$458K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.48	+0.041%	$843	$9.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.83	−0.046%	$30K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.18	+0.001%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.17	0.000%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.01	+0.113%	$753K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.53	+0.048%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.32	+0.020%	$178K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.16	−0.002%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.26	+0.012%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.78	−0.053%	$666K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.04	−0.018%	$2.2M	$14.2M	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	740.18	0.000%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	739.72	−0.061%	$110K	$331K	10x	as long as short
Hotstuff META-PERP	+0.0064%	1h	740.27	+0.013%	$33K	$105	20x	as long as short
Aftermath Perps METAUSD	+0.0068%	1h	740.43	+0.035%	$48K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.23	+0.008%	$1.6M	$451K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.45	−0.098%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythosshort	+0.0100%	8h	740.23	+0.008%	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	740.06	−0.015%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	739.75	−0.057%	$613K	$7.3M	10x	as long as short
tradeXYZ xyz:META	+0.0167%	1h	740.77	+0.081%	$67.9M	$121.1M	20x	as long as short
Lighter META	+0.0200%	1h	740.85	+0.091%	$861K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.98	+0.244%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	740.42	+0.033%	$325K	$930K	20x	as long as short
edgeX METAUSDC	+0.0402%	4h	740.01	−0.023%	$62K	$334K	10x	as long as short