Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h −0.028%

Price spread now: Nado against Orderly−0.067%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Nado is 0.067% cheaper against Orderly than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_META_USDC_mythos	744.55	0.0100	pay 0.0100% / 8h	6h 54m	$1K	$24	10x
Short	Nado META-PERP	744.05	0.0076	get 0.0010% / 1h	54m 55s	$478K	$559K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.067%Rate

Funding earned: −$4.98
Price spread: −0.067% → 0.000%: −$6.7
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$24.68
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Nado: live order book, 38 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 Nado live order book, 38 min ago	0.74 bp	12.1 bp −$12	22.6 bp −$226	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 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	744.57	+0.003%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.20	+0.087%	$490K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.58	+0.004%	$544K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.78	+0.030%	$25.9M	$192.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.97	+0.056%	$7.7M	$15.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.91	+0.048%	$6.1M	$13.0M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.33	−0.030%	$447K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.61	+0.008%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	745.38	+0.111%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.62	+0.144%	$12K	$438K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.39	+0.113%	$786	$7.6M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.10	−0.060%	$36K	$269K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.59	+0.005%	$108K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.79	+0.032%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.73	+0.024%	$812K	$2.8M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.83	+0.038%	$111K	$315K	10x	as long as short
QFEX META-USD	+0.0041%	1h	745.04	+0.066%	$2.2M	$14.1M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.90	+0.047%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.16	+0.082%	$179K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.83	+0.038%	$566K	$609K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.62	+0.009%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.75	+0.027%	$741K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0063%	8h	744.99	+0.059%	—	—	5x	as long as short
Nado META-PERPshort	+0.0076%	1h	744.05	−0.067%	$478K	$559K	20x
Aftermath Perps METAUSD	+0.0078%	1h	745.11	+0.076%	$51K	$91K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	744.98	+0.058%	$641K	$7.8M	10x	as long as short
Pacifica META	+0.0100%	1h	745.35	+0.108%	$608	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.99	+0.059%	$1.6M	$804K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.91	+0.048%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythoslong	+0.0100%	8h	744.55	long leg	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	744.44	−0.015%	$268	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.33	+0.239%	$176K	$52K	30x	as long as short
Lighter META	+0.0272%	1h	745.00	+0.060%	$1.2M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0280%	1h	745.33	+0.105%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0357%	1h	745.11	+0.075%	$86.4M	$134.8M	20x	as long as short
edgeX METAUSDC	+0.0473%	4h	745.31	+0.103%	$63K	$346K	10x	as long as short
Phoenix META	+0.0791%	1h	746.65	+0.282%	$797K	$1.5M	20x	as long as short