Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0069%/8h= −7.5% APRnext payment −$0.69 per $10,000 · paid last 24h —

Price spread now: Bybit against Paradex+0.053%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

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

The price spread pays, funding is against you. Bybit is 0.053% dearer against Paradex than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex META-USD-PERP	738.24	0.0069	pay 0.0069% / 8h	7h 37m	—	—	5x
Short	Bybit METAUSDT	738.63	0	get 0.0000% / 8h	7h 37m	$7.6M	$13.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Paradex. 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 ParadexbpFee BybitbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$14.47
Price spread: +0.053% → 0.000%: $5.31
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$24.16
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Bybit: 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 Paradex no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	1.08 bp	10.6 bp −$11	16.9 bp −$169	doesn't fit	doesn't fit

Paradex: 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
Phemex METAUSDT	−0.0243%	4h	738.31	+0.010%	$2.0M	$8K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	738.54	+0.041%	$329K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	738.66	+0.057%	$465K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	738.46	+0.030%	$547K	$2.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	738.65	+0.055%	$27.2M	$179.0M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	738.63	+0.053%	$7.6M	$13.9M	100x
OKX META-USDT-SWAP	0.0000%	8h	738.50	+0.035%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	738.14	−0.013%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	738.52	+0.038%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	738.89	+0.088%	$2.3M	$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	738.15	−0.011%	$12K	$479K	10x	as long as short
SunX META-USDT	0.0000%	8h	738.78	+0.073%	$909	$9.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	738.36	+0.016%	$106K	$292K	30x	as long as short
Lighter RH META	+0.0032%	1h	738.51	+0.037%	$755K	$3.1M	20x	as long as short
Nado META-PERP	+0.0033%	1h	737.85	−0.052%	$373K	$344K	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	738.43	+0.026%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	738.55	+0.042%	$177K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	738.32	+0.011%	$556K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	738.27	+0.004%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	737.82	−0.057%	$686K	$4.3M	10x	as long as short
QFEX META-USD	+0.0055%	1h	738.38	+0.019%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	738.05	−0.026%	$110K	$331K	10x	as long as short
Paradex META-USD-PERPlong	+0.0069%	8h	738.24	long leg	—	—	5x
Aftermath Perps METAUSD	+0.0070%	1h	738.98	+0.100%	$48K	$80K	10x	as long as short
Hotstuff META-PERP	+0.0080%	1h	738.39	+0.021%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	738.58	+0.046%	$1.6M	$424K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	737.51	−0.099%	$165K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	738.60	+0.049%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	738.40	+0.022%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	737.66	−0.078%	$610K	$7.3M	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0157%	1h	738.26	+0.003%	$30K	$247K	10x	as long as short
tradeXYZ xyz:META	+0.0163%	1h	738.54	+0.041%	$67.3M	$121.4M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.07	+0.248%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	738.15	−0.012%	$277K	$930K	20x	as long as short
Lighter META	+0.0280%	1h	738.74	+0.068%	$850K	$2.5M	20x	as long as short
edgeX METAUSDC	+0.0801%	4h	737.90	−0.046%	$62K	$333K	10x	as long as short