Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.122%

Price spread now: Extended against Orderly+0.007%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Extended

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_META_USDC_mythos	740.56	0.0100	pay 0.0100% / 8h	7h 06m	$1K	$24	10x
Short	Extended META_24_5-USD	740.61	0	get 0.0000% / 1h	6m 17s	$550K	$2.7M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Orderly. 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 OrderlybpFee ExtendedbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$21
Price spread: +0.007% → 0.000%: $0.7
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$31.3
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Extended: 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 Orderly no order-book sample	—	—	—	—	—
Sell Extended live order book, 2 min ago	0.54 bp	5.9 bp −$6	30.0 bp −$300	doesn't fit	doesn't fit

Orderly: 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	740.40	−0.022%	$326K	$1.1M	20x	as long as short
Nado META-PERP	−0.0084%	1h	740.55	−0.002%	$484K	$484K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.36	−0.027%	$466K	$549K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	740.61	+0.007%	$550K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	740.85	+0.039%	$27.4M	$179.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.08	+0.070%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.74	+0.024%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.69	+0.018%	$350K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.83	+0.036%	$5.6M	$11.2M	100x	as long as short
Variational Omni META	0.0000%	8h	740.83	+0.036%	$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	740.13	−0.058%	$12K	$458K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.15	+0.080%	$867	$9.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.48	−0.011%	$30K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.73	+0.023%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.58	+0.003%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.99	+0.058%	$753K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.80	+0.032%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.78	+0.030%	$176K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.85	+0.039%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.58	+0.003%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.40	−0.022%	$686K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.74	+0.024%	$2.2M	$14.1M	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	740.75	+0.026%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	739.84	−0.097%	$110K	$331K	10x	as long as short
Hotstuff META-PERP	+0.0064%	1h	740.42	−0.019%	$33K	$105	20x	as long as short
Aftermath Perps METAUSD	+0.0068%	1h	740.61	+0.007%	$48K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.48	−0.011%	$1.6M	$453K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.45	−0.150%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythoslong	+0.0100%	8h	740.56	long leg	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	740.36	−0.027%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	740.46	−0.014%	$614K	$7.4M	10x	as long as short
tradeXYZ xyz:META	+0.0167%	1h	740.98	+0.057%	$67.9M	$121.1M	20x	as long as short
Lighter META	+0.0200%	1h	740.96	+0.054%	$862K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.98	+0.192%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	740.42	−0.019%	$325K	$930K	20x	as long as short
edgeX METAUSDC	+0.0402%	4h	740.01	−0.075%	$62K	$334K	10x	as long as short