Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: Gate against Ondo Perps+0.008%7-day average +0.031% · you sell dearer than you buy

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

Long on Ondo Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.118%−$12 on $10k

Price spread, last 7 days−0.283%−$28 · spread now +0.008%, 7d avg +0.031%

Together, before fees−0.401%+ Points / potential airdropOndo Perps: Active · farm board−$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.022% cheaper against Ondo Perps than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps META-USD.P	743.46	0.0050	pay 0.0006% / 1h	34m 22s	$710K	$5.2M	10x
Short	Gate META_USDT	743.52	0	get 0.0000% / 8h	1h 34m	$457K	$6.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.008%Rate

Funding earned: −$10.58
Price spread: +0.008% → +0.031%: −$2.25
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$32.83
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Gate: 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 Gate live order book, 4 min ago	6.25 bp	14.5 bp −$14	26.0 bp −$260	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 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	744.05	+0.079%	$333K	$1.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0073%	1h	743.58	+0.016%	$34K	$274K	10x	as long as short
Nado META-PERP	−0.0030%	1h	743.73	+0.037%	$481K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.05	+0.214%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.80	+0.045%	$552K	$2.0M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.95	+0.066%	$25.1M	$187.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.88	+0.056%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.02	+0.075%	$6.0M	$12.6M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	743.52	+0.008%	$457K	$6.1M	100x
Bitget METAUSDT	0.0000%	8h	744.13	+0.090%	$5.6M	$12.3M	100x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	744.08	+0.084%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.20	+0.100%	$12K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.02	+0.075%	$686	$8.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.82	+0.048%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.34	+0.118%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	743.81	+0.047%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	744.32	+0.116%	$786K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.92	+0.062%	$109K	$333K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.53	+0.144%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.95	+0.066%	$177K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.84	+0.051%	$585K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.03	+0.077%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.Plong	+0.0050%	1h	743.46	long leg	$710K	$5.2M	10x
Paradex META-USD-PERP	+0.0062%	8h	743.91	+0.061%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	745.01	+0.209%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.15	+0.093%	$1.6M	$677K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.50	+0.005%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.98	+0.070%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.88	+0.056%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.27	+0.109%	$647K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.64	+0.697%	$173K	$46K	30x	as long as short
Lighter META	+0.0368%	1h	744.50	+0.140%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0376%	1h	744.47	+0.136%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0508%	1h	744.47	+0.136%	$77.2M	$127.4M	20x	as long as short
edgeX METAUSDC	+0.0548%	4h	744.17	+0.095%	$62K	$343K	10x	as long as short
Phoenix META	+0.0739%	1h	746.28	+0.379%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	744.06	+0.081%	—	—	—	as long as short