Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.017%

Price spread now: QFEX against Orderly−0.005%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 QFEX

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—needs 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: −$2 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	742.66	0.0100	pay 0.0100% / 8h	4h 22m	$1K	$24	10x
Short	QFEX META-USD	742.62	0.0036	get 0.0005% / 1h	22m 43s	$2.2M	$13.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$13.41
Price spread: −0.005% → 0.000%: −$0.54
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$29.95
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; QFEX: live order book, 6 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 QFEX live order book, 6 min ago	1.89 bp	6.9 bp −$7	8.3 bp −$83	19.7 bp −$1,973	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	742.65	−0.001%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0019%	1h	742.19	−0.063%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.58	−0.010%	$468K	$552K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.53	−0.017%	$549K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.72	+0.008%	$27.6M	$180.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.60	−0.008%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.54	−0.016%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.28	−0.051%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.67	+0.001%	$5.3M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.05	−0.082%	$2.4M	$3.1M	—	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	741.87	−0.106%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.73	+0.009%	$979	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.46	−0.027%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.49	−0.023%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.64	−0.003%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.11	+0.061%	$771K	$3.0M	20x	as long as short
QFEX META-USDshort	+0.0036%	1h	742.62	−0.005%	$2.2M	$13.7M	10x
Arcus META-USD	+0.0040%	1h	741.90	−0.102%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.04	+0.051%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.70	+0.005%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.41	−0.034%	$584K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.59	−0.009%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.67	−0.133%	$764K	$4.4M	10x	as long as short
Paradex META-USD-PERP	+0.0066%	8h	742.46	−0.026%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	742.48	−0.024%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.62	−0.005%	$1.6M	$548K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.88	−0.105%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythoslong	+0.0100%	8h	742.66	long leg	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	742.53	−0.017%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	741.90	−0.102%	$625K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0168%	1h	742.49	−0.023%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.24	−0.057%	$171K	$48K	30x	as long as short
edgeX METAUSDC	+0.0245%	4h	742.15	−0.068%	$62K	$336K	10x	as long as short
Lighter META	+0.0248%	1h	743.00	+0.046%	$858K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0280%	1h	742.59	−0.009%	$69.4M	$120.4M	20x	as long as short
Phoenix META	+0.0591%	1h	742.78	+0.016%	$682K	$1.2M	20x	as long as short