Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.025%

Price spread now: Polymarket Perps against Ondo Perps+0.050%7-day average +0.018% · you sell dearer than you buy

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

Long on Ondo Perps Short on Polymarket Perps

What this pair did over the last

the charts below follow

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

Price spread, last 7 days−0.026%−$3 · spread now +0.050%, 7d avg +0.018%

Together, before fees−0.010%+ Points / potential airdropOndo Perps: Active · farm board−$1 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: Polymarket Perps is 0.032% dearer against Ondo Perps than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps META-USD.P	739.99	0.0050	pay 0.0006% / 1h	0m 16s	$697K	$4.2M	10x
Short	Polymarket Perps META-USD	740.36	0.0050	get 0.0006% / 1h	0m 16s	$558K	$547K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$0.08
Price spread: +0.050% → +0.018%: $3.15
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$9.93
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Polymarket Perps: live order book, 2 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 Polymarket Perps live order book, 2 min ago	0.07 bp	9.0 bp −$9	9.4 bp −$94	10.5 bp −$1,053	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 35 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
Nado META-PERP	−0.0112%	1h	740.17	+0.025%	$478K	$548K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.75	+0.103%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.17	+0.025%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.35	+0.049%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.15	+0.022%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.56	+0.077%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.05	+0.008%	$355K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.46	+0.064%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.45	+0.062%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.44	+0.061%	$12K	$431K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.39	+0.054%	$1K	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.75	−0.032%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.31	+0.043%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.49	+0.068%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.43	+0.059%	$2.1M	$13.7M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.43	+0.059%	$761K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.04	+0.007%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.65	+0.089%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.59	+0.081%	$176K	$197K	20x	as long as short
Polymarket Perps META-USDshort	+0.0050%	1h	740.36	+0.050%	$558K	$547K	10x
SoDEX META-USD	+0.0050%	1h	740.34	+0.047%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.Plong	+0.0050%	1h	739.99	long leg	$697K	$4.2M	10x
Paradex META-USD-PERP	+0.0054%	8h	740.39	+0.054%	—	—	5x	as long as short
edgeX METAUSDC	+0.0060%	4h	740.31	+0.043%	$62K	$336K	10x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.91	+0.124%	$49K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.45	+0.062%	$1.6M	$498K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.82	−0.023%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.37	+0.051%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.15	+0.021%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.091%	$609K	$7.1M	10x	as long as short
Hotstuff META-PERP	+0.0136%	1h	740.62	+0.085%	$33K	$105	20x	as long as short
Lighter META	+0.0144%	1h	740.53	+0.073%	$860K	$2.4M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.35	+0.319%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0242%	1h	740.41	+0.057%	$68.3M	$119.7M	20x	as long as short
Phoenix META	+0.0313%	1h	741.07	+0.146%	$469K	$1.1M	20x	as long as short