Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.023%

Price spread now: Variational Omni against Nado+0.021%7-day average +0.024% · you sell dearer than you buy

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

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.100%+$10 on $10k

Price spread, last 4 days (all we have)+0.449%+$45 · spread now +0.021%, 7d avg +0.024%

Together, before fees+0.549%+ Points / potential airdropNado: Active · Variational Omni: Active · farm board+$55 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.024%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair paid +0.100%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado META-PERP	745.20	0.0032	pay 0.0004% / 1h	40m 10s	$480K	$560K	20x
Short	Variational Omni META	745.36	0	get 0.0000% / 8h	40m 10s	$2.4M	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.021%Rate

Funding earned: −$6.71
Price spread: +0.021% → +0.024%: −$0.31
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$14.02
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Nado: live order book, 63 min ago; Variational Omni: RFQ quote, 4 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 Nado live order book, 63 min ago	0.87 bp	11.5 bp −$11	95.8 bp −$958	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.46 bp	doesn't fit	9.0 bp −$90	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	745.44	+0.032%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.39	+0.025%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.35	+0.020%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.49	+0.039%	$25.1M	$188.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.19	−0.002%	$7.5M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.59	+0.052%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.13	−0.010%	$466K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.38	+0.024%	$5.5M	$12.3M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	745.36	+0.021%	$2.4M	$3.1M	—
GRVT META_USDT_Perp	0.0000%	8h	744.63	−0.077%	$12K	$438K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.38	+0.024%	$890	$8.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.92	−0.038%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.35	+0.020%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.35	+0.020%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.25	+0.007%	$2.2M	$13.9M	10x	as long as short
Nado META-PERPlong	+0.0032%	1h	745.20	long leg	$480K	$560K	20x
Lighter RH META	+0.0040%	1h	745.55	+0.047%	$789K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.84	−0.048%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.66	+0.062%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.41	+0.028%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.95	−0.034%	$564K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.44	+0.032%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.22	+0.003%	$729K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	745.44	+0.031%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.73	+0.071%	$48K	$89K	10x	as long as short
Pacifica META	+0.0100%	1h	745.03	−0.022%	$13	$106	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.06	−0.019%	$1.6M	$715K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.98	−0.164%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.42	+0.029%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.30	+0.013%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.36	+0.021%	$644K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.51	+0.176%	$172K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0416%	1h	745.97	+0.103%	$33K	$105	20x	as long as short
Lighter META	+0.0464%	1h	745.76	+0.075%	$1.1M	$2.9M	20x	as long as short
edgeX METAUSDC	+0.0495%	4h	744.81	−0.053%	$62K	$343K	10x	as long as short
tradeXYZ xyz:META	+0.0541%	1h	745.68	+0.064%	$81.1M	$129.8M	20x	as long as short
Phoenix META	+0.0750%	1h	746.26	+0.142%	$797K	$1.5M	20x	as long as short