Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: HTX against Ondo Perps+0.059%7-day average +0.068% · you sell dearer than you buy

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

Long on Ondo Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now +0.059%, 7d avg +0.068%

Together, before fees−0.021%+ Points / potential airdropOndo Perps: Active · farm board−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.068%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps META-USD.P	745.57	0.0050	pay 0.0006% / 1h	5m 51s	$752K	$4.9M	10x
Short	HTX META-USDT	746.01	0	get 0.0000% / 8h	2h 05m	$106K	$306K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Ondo Perps. 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 Ondo PerpsbpFee HTXbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$10.58
Price spread: +0.059% → +0.068%: −$0.88
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$28.46
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; HTX: live order book, 41 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 HTX live order book, 41 min ago	2.68 bp	8.7 bp −$9	14.2 bp −$142	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 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	745.99	+0.056%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0001%	1h	745.82	+0.034%	$483K	$558K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.76	+0.025%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.90	+0.044%	$549K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.06	+0.066%	$27.7M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.02	+0.060%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.05	+0.064%	$6.1M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.55	−0.003%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.18	+0.082%	$5.5M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	746.12	+0.074%	$2.4M	$3.3M	—	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	746.02	+0.060%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.01	+0.059%	$658	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.88	+0.042%	$31K	$263K	10x	as long as short
HTX META-USDTshort	0.0000%	8h	746.01	+0.059%	$106K	$306K	30x
Phemex METAUSDT	0.0000%	4h	745.84	+0.036%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.50	+0.125%	$776K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.37	−0.027%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.37	+0.107%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.93	+0.048%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.26	+0.093%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.83	+0.035%	$587K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.25	+0.091%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.Plong	+0.0050%	1h	745.57	long leg	$752K	$4.9M	10x
Paradex META-USD-PERP	+0.0067%	8h	746.02	+0.060%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	746.25	+0.091%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.92	+0.047%	$1.6M	$658K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.52	−0.007%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.16	+0.079%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.97	+0.054%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.40	−0.023%	$656K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.330%	$172K	$46K	30x	as long as short
Lighter META	+0.0304%	1h	746.51	+0.126%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	746.41	+0.113%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0453%	1h	746.42	+0.114%	$76.2M	$125.7M	20x	as long as short
Phoenix META	+0.0685%	1h	746.97	+0.188%	$798K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0903%	4h	745.78	+0.028%	$62K	$339K	10x	as long as short