Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h —

Price spread now: OKX against Pacifica+0.113%7-day average — · you sell dearer than you buy

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

Long on Pacifica Short on OKX

What this pair did over the last

the charts below follow

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

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

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

The price spread pays, funding is against you. OKX is 0.113% dearer against Pacifica than usual: you sell high and buy low (spread +0.113% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica META	739.48	0.0100	pay 0.0013% / 1h	30m 03s	$614	$2K	10x
Short	OKX META-USDT-SWAP	740.32	0	get 0.0000% / 8h	5h 30m	$6.0M	$12.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Pacifica. 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 PacificabpFee OKXbpOrdersPrice spread, now +0.113%Rate

Funding earned: −$21
Price spread: +0.113% → 0.000%: $11.35
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$27.65
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Pacifica: no order-book sample; OKX: live order book, 1 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 Pacifica no order-book sample	—	—	—	—	—
Sell OKX live order book, 1 min ago	0.34 bp	7.4 bp −$7	18.8 bp −$188	doesn't fit	doesn't fit

Pacifica: 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 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	735.21	−0.578%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.35	+0.118%	$338K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.73	+0.169%	$492K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.08	+0.081%	$545K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.40	+0.124%	$25.6M	$192.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.14	+0.089%	$7.5M	$16.1M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	740.32	+0.113%	$6.0M	$12.9M	20x
Gate META_USDT	0.0000%	8h	740.10	+0.084%	$462K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.33	+0.115%	$5.7M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	740.19	+0.096%	$2.5M	$3.0M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	740.17	+0.093%	$12K	$433K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.30	+0.111%	$912	$7.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.40	+0.124%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.22	+0.100%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.43	+0.128%	$871K	$2.8M	20x	as long as short
QFEX META-USD	+0.0038%	1h	740.02	+0.073%	$2.1M	$13.9M	10x	as long as short
Arcus META-USD	+0.0040%	1h	739.85	+0.050%	$111K	$290K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.21	+0.099%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.08	+0.081%	$558K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.21	+0.099%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.52	+0.005%	$744K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	739.88	+0.055%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.40	+0.124%	$649K	$7.5M	10x	as long as short
Aftermath Perps METAUSD	+0.0074%	1h	740.79	+0.176%	$53K	$86K	10x	as long as short
Popdex METAUSDT	+0.0088%	1h	740.37	+0.120%	$178K	$198K	20x	as long as short
Pacifica METAlong	+0.0100%	1h	739.48	long leg	$614	$2K	10x
KuCoin METAUSDTM	+0.0100%	8h	740.19	+0.096%	$1.6M	$896K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.17	+0.093%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.22	+0.100%	$1K	$59	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.03	+0.074%	$266	—	10x	as long as short
Nado META-PERP	+0.0117%	1h	739.63	+0.020%	$474K	$550K	20x	as long as short
edgeX METAUSDC	+0.0163%	4h	740.59	+0.151%	$62K	$350K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.41	+0.396%	$167K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0323%	1h	740.29	+0.109%	$86.7M	$135.9M	20x	as long as short
Lighter META	+0.0344%	1h	740.37	+0.120%	$1.2M	$2.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0548%	1h	740.18	+0.095%	$36K	$213K	10x	as long as short
Phoenix META	+0.0613%	1h	741.63	+0.291%	$792K	$1.5M	20x	as long as short