Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: Ondo Perps against Gate−0.081%7-day average −0.034% · you buy dearer than you sell

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

Long on Gate Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 7 days−0.025%−$3 · spread now −0.081%, 7d avg −0.034%

Together, before fees+0.092%+ Points / potential airdropOndo Perps: Active · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.047% cheaper against Gate than usual: you would sell low and buy high (spread −0.081% now, against its 7-day average of −0.034%). If the spread goes back, that is −$5 on $10k: about 3.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	740.38	0	get 0.0000% / 8h	6h 25m	$353K	$5.6M	100x
Short	Ondo Perps META-USD.P	739.78	0.0050	get 0.0006% / 1h	25m 25s	$697K	$4.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Gate. 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 GatebpFee Ondo PerpsbpOrdersPrice spread, now −0.081%Rate

Funding earned: $10.58
Price spread: −0.081% → −0.034%: −$4.75
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$14.16
Costs to cover: 0.200%
Break-even: 16.4 days

Slippage unknown: Gate: live order book, 3 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 Gate live order book, 3 min ago	5.27 bp	15.0 bp −$15	40.6 bp −$406	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 35 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
Nado META-PERP	−0.0137%	1h	739.97	−0.055%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.46	+0.011%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.37	−0.002%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.44	+0.008%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.27	−0.015%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.55	+0.023%	$5.9M	$13.3M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	740.38	long leg	$353K	$5.6M	100x
Bitget METAUSDT	0.0000%	8h	740.60	+0.030%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.67	+0.040%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.63	+0.034%	$12K	$432K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.53	+0.020%	$1K	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.28	−0.014%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.53	+0.020%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.89	+0.069%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.35	−0.004%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.49	+0.015%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.25	−0.018%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.65	+0.036%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.44	+0.008%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.19	−0.026%	$558K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.54	+0.022%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.Pshort	+0.0050%	1h	739.78	−0.081%	$697K	$4.3M	10x
Paradex META-USD-PERP	+0.0056%	8h	740.20	−0.025%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	741.29	+0.122%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.44	+0.008%	$1.6M	$482K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.11	−0.036%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.58	+0.027%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.42	+0.005%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.038%	$609K	$7.2M	10x	as long as short
Lighter META	+0.0112%	1h	740.42	+0.005%	$855K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0120%	1h	740.43	+0.007%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.96	+0.348%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0237%	1h	740.36	−0.003%	$68.3M	$120.3M	20x	as long as short
Phoenix META	+0.0313%	1h	741.24	+0.116%	$416K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0851%	4h	740.34	−0.005%	$62K	$334K	10x	as long as short