Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0085%/8h= −9.3% APRpaid last 24h −0.051%

Price spread now: BloFin against Ondo Perps+0.124%95s7-day average +0.097% · you sell dearer than you buy

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

Long on Ondo Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.313%−$31 on $10k

Price spread, last 4 days (all we have)+0.186%+$19 · spread now +0.124%, 7d avg +0.097%

Together, before fees−0.127%+ Points / potential airdropOndo Perps: Active · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.027% dearer against Ondo Perps than usual: you sell high and buy low (spread +0.124% now, against its 7-day average of +0.097%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 25 hours. The two prices were read 95 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	Ondo Perps META-USD.P	741.61	0.0050	pay 0.0006% / 1h	51m 47s	$702K	$5.0M	10x
Short	BloFin META-USDT	742.53	−0.0035	pay 0.0035% / 8h	5h 51m	$339K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee BloFinbpOrdersPrice spread, now +0.124%Rate

Funding earned: −$17.92
Price spread: +0.124% → +0.097%: $2.7
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$32.22
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; BloFin: live order book, 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell BloFin live order book, 4 min ago	1.35 bp	7.7 bp −$8	11.7 bp −$117	doesn't fit	doesn't fit

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 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	742.40	+0.107%	$33K	$105	20x	as long as short
BloFin META-USDTshort	−0.0035%	8h	742.53	+0.124%	$339K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	742.87	+0.170%	$493K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.02	+0.055%	$547K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.27	+0.089%	$25.9M	$192.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.30	+0.093%	$7.7M	$15.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.29	+0.092%	$6.1M	$13.0M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.94	+0.044%	$454K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.12	+0.069%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	742.47	+0.115%	$2.5M	$3.0M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	742.66	+0.141%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.36	+0.101%	$1K	$7.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.88	+0.036%	$36K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.15	+0.073%	$107K	$299K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.98	+0.185%	$2.0M	$8K	10x	as long as short
edgeX METAUSDC	+0.0013%	4h	742.28	+0.090%	$62K	$347K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.40	+0.107%	$861K	$2.8M	20x	as long as short
QFEX META-USD	+0.0038%	1h	742.25	+0.086%	$2.2M	$14.0M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.89	+0.038%	$111K	$284K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.45	+0.113%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.97	+0.049%	$559K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.26	+0.088%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.Plong	+0.0050%	1h	741.61	long leg	$702K	$5.0M	10x
Paradex META-USD-PERP	+0.0053%	8h	741.97	+0.049%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	742.00	+0.053%	$644K	$7.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0074%	1h	742.83	+0.165%	$53K	$86K	10x	as long as short
Pacifica META	+0.0100%	1h	742.26	+0.087%	$635	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.34	+0.098%	$1.6M	$877K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.82	+0.028%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.29	+0.092%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.14	+0.072%	$267	—	10x	as long as short
Popdex METAUSDT	+0.0128%	1h	742.27	+0.089%	$179K	$200K	20x	as long as short
Nado META-PERP	+0.0130%	1h	741.88	+0.037%	$476K	$552K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.75	+0.289%	$168K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0284%	1h	742.15	+0.073%	$86.0M	$135.2M	20x	as long as short
Lighter META	+0.0392%	1h	742.41	+0.108%	$1.2M	$2.6M	20x	as long as short
Phoenix META	+0.0613%	1h	743.08	+0.198%	$793K	$1.5M	20x	as long as short