Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: GRVT against OKX+0.318%51s7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as 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−$370.373% of the position

Long on OKX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 4 days (all we have)−0.397%−$40 · spread now +0.318%, 7d avg +0.009%

Together, before fees−0.381%+ Points / potential airdropGRVT: Active · farm board−$38 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: GRVT is 0.309% dearer against OKX than usual: you sell high and buy low, +$31 on $10k if it goes back to its 7-day average of +0.009%. The two prices were read 51 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	744.09	0	get 0.0000% / 8h	7h 44m	$6.0M	$12.8M	20x
Short	GRVT META_USDT_Perp	746.46	0	get 0.0000% / 8h	7h 44m	$12K	$443K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.318%Rate

Funding earned: $0
Price spread: +0.318% → +0.009%: $30.9
Slippage, 4 orders: −$18.35
Fee OKX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$6.44
Costs to cover: 0.373%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; GRVT: live order book, 53 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, 3 min ago	0.80 bp	9.1 bp −$9	24.2 bp −$242	doesn't fit	doesn't fit
Sell GRVT live order book, 53 min ago	0.94 bp	7.4 bp −$7	10.1 bp −$101	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	745.02	+0.125%	$333K	$1.1M	20x	as long as short
Nado META-PERP	−0.0046%	1h	744.77	+0.091%	$480K	$561K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.00	+0.122%	$488K	$603K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.67	+0.078%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.47	+0.051%	$25.8M	$191.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.21	+0.016%	$7.4M	$15.7M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	744.09	long leg	$6.0M	$12.8M	20x
Gate META_USDT	0.0000%	8h	743.89	−0.027%	$474K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.30	+0.028%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.82	+0.098%	$2.5M	$3.0M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perpshort	0.0000%	8h	746.46	+0.318%	$12K	$443K	10x
SunX META-USDT	0.0000%	8h	744.94	+0.114%	$840	$7.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.54	+0.060%	$53K	$282K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.52	+0.058%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.52	+0.192%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.34	+0.034%	$794K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	744.90	+0.109%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	744.71	+0.083%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.30	+0.163%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.01	+0.124%	$180K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.66	+0.077%	$566K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.69	+0.081%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.50	+0.055%	$724K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	744.85	+0.103%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0082%	1h	745.56	+0.198%	$49K	$90K	10x	as long as short
Pacifica META	+0.0100%	1h	744.30	+0.028%	$634	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.17	+0.145%	$1.6M	$752K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.28	+0.160%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.33	+0.167%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.11	+0.136%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	744.50	+0.055%	$652K	$8.1M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.91	+0.513%	$177K	$52K	30x	as long as short
Lighter META	+0.0224%	1h	744.48	+0.052%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0252%	1h	744.24	+0.020%	$84.2M	$132.8M	20x	as long as short
Hotstuff META-PERP	+0.0288%	1h	745.17	+0.145%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0372%	4h	746.05	+0.263%	$63K	$347K	10x	as long as short
Phoenix META	+0.0791%	1h	746.16	+0.278%	$797K	$1.5M	20x	as long as short