Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against OKX−0.077%58s7-day average −0.079% · you buy dearer than you sell

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

Long on OKX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 7 days+0.169%+$17 · spread now −0.077%, 7d avg −0.079%

Together, before fees+0.280%+ Points / potential airdropOndo Perps: Active · farm board+$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.079%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 58 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	743.83	0	get 0.0000% / 8h	7h 32m	$6.1M	$12.9M	20x
Short	Ondo Perps META-USD.P	743.26	0.0050	get 0.0006% / 1h	32m 41s	$722K	$5.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.077%Rate

Funding earned: $10.58
Price spread: −0.077% → −0.079%: $0.27
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$4.15
Costs to cover: 0.150%
Break-even: 9.7 days

Slippage unknown: OKX: live order book, 1 min ago; Ondo Perps: 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 OKX live order book, 1 min ago	1.68 bp	10.5 bp −$10	20.3 bp −$203	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 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	743.83	0.000%	$335K	$1.1M	20x	as long as short
Nado META-PERP	−0.0017%	1h	743.41	−0.057%	$478K	$562K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.54	+0.096%	$488K	$603K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.61	−0.029%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.73	−0.013%	$25.9M	$191.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.72	−0.015%	$7.4M	$15.5M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	743.83	long leg	$6.1M	$12.9M	20x
Gate META_USDT	0.0000%	8h	743.36	−0.063%	$476K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.68	−0.020%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	743.29	−0.072%	$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_Perp	0.0000%	8h	743.34	−0.066%	$12K	$434K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.61	−0.030%	$1K	$7.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.25	−0.078%	$44K	$281K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.51	−0.043%	$108K	$301K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.60	−0.031%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.84	+0.001%	$793K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.91	+0.011%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.51	−0.043%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.19	+0.048%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.87	+0.005%	$180K	$204K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.26	−0.077%	$565K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.61	−0.030%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.Pshort	+0.0050%	1h	743.26	−0.077%	$722K	$5.0M	10x
Paradex META-USD-PERP	+0.0056%	8h	743.82	−0.001%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	744.18	+0.047%	$51K	$93K	10x	as long as short
Pacifica META	+0.0100%	1h	743.92	+0.012%	$626	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.79	−0.005%	$1.6M	$768K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.58	−0.168%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.69	−0.019%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.34	−0.066%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	743.27	−0.075%	$635K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.70	+0.251%	$176K	$52K	30x	as long as short
Lighter META	+0.0280%	1h	744.07	+0.032%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0283%	1h	743.87	+0.005%	$84.5M	$133.0M	20x	as long as short
Hotstuff META-PERP	+0.0296%	1h	743.97	+0.019%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0576%	4h	743.22	−0.082%	$63K	$347K	10x	as long as short
Phoenix META	+0.0791%	1h	745.06	+0.165%	$795K	$1.5M	20x	as long as short