Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRnext payment −$0.50 per $10,000 · paid last 24h —

Price spread now: Variational Omni against Paradex−0.082%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.082% cheaper against Paradex than usual: you would sell low and buy high (−$8 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	Paradex META-USD-PERP	741.23	0.0050	pay 0.0050% / 8h	1h 26m	—	—	5x
Short	Variational Omni META	740.62	0	get 0.0000% / 8h	1h 26m	$1.6M	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.082%Rate

Funding earned: −$10.53
Price spread: −0.082% → 0.000%: −$8.24
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$22.77
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Variational Omni: RFQ quote, 3 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 Variational Omni RFQ quote, 3 min ago	2.46 bp	doesn't fit	15.8 bp −$158	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
BloFin META-USDT	−0.0120%	8h	741.33	+0.013%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0085%	1h	741.30	+0.009%	$396K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	+0.071%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.17	−0.008%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.30	+0.009%	$27.0M	$178.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.33	+0.013%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.45	+0.029%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.00	−0.031%	$344K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.44	+0.028%	$5.8M	$11.0M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	740.62	−0.082%	$1.6M	$2.6M	—

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	741.30	+0.009%	$12K	$506K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.58	+0.047%	$909	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.41	+0.024%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.09	−0.019%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.39	+0.021%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	741.18	−0.007%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.69	+0.062%	$749K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.90	−0.045%	$111K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.80	+0.076%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.32	+0.012%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.34	+0.014%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.35	+0.016%	$24K	$3K	10x	as long as short
Paradex META-USD-PERPlong	+0.0050%	8h	741.23	long leg	—	—	5x
Ondo Perps META-USD.P	+0.0050%	1h	741.18	−0.007%	$639K	$4.1M	10x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	741.60	+0.050%	$48K	$64K	10x	as long as short
Lighter META	+0.0056%	1h	741.66	+0.058%	$862K	$2.5M	20x	as long as short
Hotstuff META-PERP	+0.0064%	1h	741.47	+0.032%	$33K	$105	20x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.91	−0.044%	$606K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	741.12	−0.015%	$291K	$791K	20x	as long as short
tradeXYZ xyz:META	+0.0096%	1h	741.52	+0.039%	$68.6M	$121.0M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.24	+0.001%	$1.6M	$364K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.02	−0.029%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.24	+0.001%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.14	−0.013%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.58	−0.088%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0566%	4h	741.12	−0.015%	$62K	$332K	10x	as long as short