Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.005%

Price spread now: Variational Omni against GRVT−0.050%89s7-day average −0.010% · you buy dearer than you sell

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

Long on GRVT Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.005%$0 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.050%, 7d avg −0.010%

Together, before fees+0.051%+ Points / potential airdropGRVT: Active · Variational Omni: Active · farm board+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.040% cheaper against GRVT than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.010%. The two prices were read 89 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	GRVT META_USDT_Perp	741.50	0	get 0.0000% / 8h	5h 38m	$12K	$432K	10x
Short	Variational Omni META	741.13	0	get 0.0000% / 8h	5h 38m	$2.3M	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GRVT. 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 GRVTbpFee Variational OmnibpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → −0.010%: −$3.97
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$12.97
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 25 min ago; Variational Omni: RFQ quote, 1 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 GRVT live order book, 25 min ago	1.15 bp	7.6 bp −$8	12.5 bp −$125	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	3.03 bp	doesn't fit	19.5 bp −$195	doesn't fit	doesn't fit

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	741.25	−0.034%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0032%	1h	741.05	−0.060%	$479K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.59	+0.012%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.02	−0.065%	$549K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.22	−0.038%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.30	−0.027%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.08	−0.057%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.02	−0.065%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.19	−0.042%	$5.5M	$11.4M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	741.13	−0.050%	$2.3M	$3.1M	—

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perplong	0.0000%	8h	741.50	long leg	$12K	$432K	10x
SunX META-USDT	0.0000%	8h	741.22	−0.038%	$801	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.73	−0.104%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.13	−0.050%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.21	−0.039%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.51	+0.001%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.18	−0.043%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	740.85	−0.088%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.58	+0.011%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.33	−0.023%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.09	−0.055%	$558K	$539K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.32	−0.024%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.61	−0.120%	$702K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	741.20	−0.041%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0075%	1h	742.12	+0.084%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	+0.043%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.49	−0.001%	$1.6M	$510K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.95	−0.074%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.32	−0.024%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.14	−0.048%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.52	+0.272%	$171K	$48K	30x	as long as short
Lighter META	+0.0248%	1h	741.49	−0.001%	$861K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0256%	1h	741.52	+0.003%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0344%	1h	741.42	−0.011%	$69.2M	$120.1M	20x	as long as short
Phoenix META	+0.0496%	1h	742.14	+0.086%	$517K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0560%	4h	741.14	−0.048%	$62K	$335K	10x	as long as short