Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.022%

Price spread now: ApeX Omni against OKX−0.229%100s7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$820.823% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 4 days (all we have)+0.123%+$12 · spread now −0.229%, 7d avg −0.039%

Together, before fees+0.325%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.190% cheaper against OKX than usual: you would sell low and buy high (spread −0.229% now, against its 7-day average of −0.039%). If the spread goes back, that is −$19 on $10k: about 6.3 days of funding at the current rate (+$3 a day). The two prices were read 100 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	OKX META-USDT-SWAP	743.96	0	get 0.0000% / 8h	4h 17m	$6.0M	$13.6M	20x
Short	ApeX Omni METAUSDT	742.26	0.0100	get 0.0013% / 1h	17m 53s	$166K	$71K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.229%Rate

Funding earned: $21
Price spread: −0.229% → −0.039%: −$18.98
Slippage, 4 orders: −$62.28
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$80.25
Costs to cover: 0.823%
Break-even: 33.8 days

Slippage from OKX: live order book, just now; ApeX Omni: live order book, 38 min ago.

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 OKX live order book, just now	0.07 bp	9.0 bp −$9	24.8 bp −$248	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 38 min ago	2.63 bp	25.2 bp −$25	547.3 bp −$5,473	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	743.99	+0.004%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0022%	1h	743.51	−0.061%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.45	−0.068%	$469K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.81	−0.020%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.00	+0.005%	$27.6M	$181.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.10	+0.019%	$7.6M	$14.1M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	743.96	long leg	$6.0M	$13.6M	20x
Gate META_USDT	0.0000%	8h	743.51	−0.060%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.00	+0.005%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.78	−0.159%	$2.4M	$3.1M	—	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	742.66	−0.175%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.32	+0.048%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.88	−0.011%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.41	−0.074%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.01	+0.007%	$772K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.79	−0.023%	$2.2M	$13.8M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.93	−0.138%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.06	+0.013%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.20	+0.032%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.64	−0.043%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.72	−0.032%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.57	−0.052%	$765K	$4.5M	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	743.97	+0.001%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	743.44	−0.070%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.53	−0.058%	$1.6M	$549K	20x	as long as short
ApeX Omni METAUSDTshort	+0.0100%	1h	742.26	−0.229%	$166K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.00	+0.005%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.76	−0.027%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.78	−0.024%	$626K	$7.2M	10x	as long as short
edgeX METAUSDC	+0.0137%	4h	742.55	−0.190%	$62K	$336K	10x	as long as short
Hotstuff META-PERP	+0.0160%	1h	744.03	+0.009%	$33K	$105	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0207%	1h	743.68	−0.038%	$31K	$246K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.66	−0.175%	$171K	$48K	30x	as long as short
Lighter META	+0.0248%	1h	743.96	0.000%	$864K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0270%	1h	743.73	−0.031%	$69.5M	$120.5M	20x	as long as short
Phoenix META	+0.0591%	1h	743.61	−0.047%	$691K	$1.2M	20x	as long as short