Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0133%/8h= +14.6% APRpaid last 24h +0.013%

Price spread now: Orderly against Nado+0.062%7-day average — · you sell dearer than you buy

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

Long on Nado Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Orderly is 0.062% dearer against Nado than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado META-PERP	741.33	−0.0033	get 0.0004% / 1h	25m 47s	$389K	$330K	20x
Short	Orderly PERP_META_USDC_mythos	741.79	0.0100	get 0.0100% / 8h	25m 47s	$1K	$24	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Nado. 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 NadobpFee OrderlybpOrdersPrice spread, now +0.062%Rate

Funding earned: $27.97
Price spread: +0.062% → 0.000%: $6.17
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: $21.14
Costs to cover: 0.130%
Break-even: 1.7 days

Slippage unknown: Nado: live order book, 52 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 Nado live order book, 52 min ago	0.14 bp	13.7 bp −$14	28.5 bp −$285	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	741.75	+0.056%	$329K	$1.1M	20x	as long as short
Nado META-PERPlong	−0.0033%	1h	741.33	long leg	$389K	$330K	20x
Aster METAUSDT	0.0000%	8h	741.37	+0.005%	$456K	$539K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.52	+0.025%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.70	+0.049%	$27.3M	$179.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.45	+0.016%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.60	+0.036%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.17	−0.022%	$345K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.54	+0.028%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.73	+0.054%	$2.3M	$3.2M	—	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	742.25	+0.124%	$12K	$480K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.42	+0.012%	$721	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.63	+0.040%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.30	+0.130%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	741.72	+0.052%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.67	+0.045%	$755K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.40	+0.009%	$110K	$454K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.82	+0.066%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.67	+0.045%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.64	+0.041%	$546K	$845K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.58	+0.033%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.09	−0.033%	$760K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	741.44	+0.015%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0067%	1h	742.51	+0.159%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.41	+0.010%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.58	+0.033%	$1.6M	$385K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.76	+0.058%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythosshort	+0.0100%	8h	741.79	+0.062%	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	741.61	+0.038%	$267	—	10x	as long as short
Phoenix META	+0.0129%	1h	742.09	+0.102%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0160%	1h	741.67	+0.045%	$33K	$105	20x	as long as short
Lighter META	+0.0208%	1h	741.68	+0.047%	$856K	$2.6M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.36	+0.408%	$169K	$46K	30x	as long as short
tradeXYZ xyz:META	+0.0253%	1h	741.51	+0.024%	$67.7M	$122.6M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0303%	1h	741.31	−0.003%	$30K	$258K	10x	as long as short
edgeX METAUSDC	+0.0994%	4h	742.29	+0.129%	$62K	$334K	10x	as long as short