Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.004%

Price spread now: Orderly against Polymarket Perps+0.046%7-day average — · you sell dearer than you buy

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

Long on Polymarket Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.046% dearer against Polymarket Perps than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps META-USD	743.76	0.0050	pay 0.0006% / 1h	52m 08s	$585K	$565K	10x
Short	Orderly PERP_META_USDC_mythos	744.10	0.0100	get 0.0100% / 8h	3h 52m	$1K	$24	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Polymarket Perps. 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 Polymarket PerpsbpFee OrderlybpOrdersPrice spread, now +0.046%Rate

Funding earned: $10.5
Price spread: +0.046% → 0.000%: $4.57
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: $1.07
Costs to cover: 0.140%
Break-even: 6.3 days

Slippage unknown: Polymarket Perps: live order book, 66 min ago; Orderly: no order-book sample. 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 Polymarket Perps live order book, 66 min ago	1.75 bp	5.8 bp −$6	8.8 bp −$88	10.4 bp −$1,039	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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	744.58	+0.110%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0009%	1h	743.96	+0.028%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.92	+0.022%	$469K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.86	+0.013%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.08	+0.043%	$28.4M	$183.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.79	+0.004%	$7.7M	$14.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.85	+0.012%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.71	−0.007%	$365K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.07	+0.042%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.70	+0.127%	$2.4M	$3.2M	—	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	744.96	+0.161%	$12K	$450K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.12	+0.048%	$729	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.73	−0.004%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.94	+0.024%	$106K	$302K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.53	+0.104%	$2.0M	$8K	10x	as long as short
edgeX METAUSDC	+0.0011%	4h	744.64	+0.119%	$62K	$337K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.33	+0.077%	$781K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.21	+0.061%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.39	+0.085%	—	$10K	25x	as long as short
Polymarket Perps META-USDlong	+0.0050%	1h	743.76	long leg	$585K	$565K	10x
SoDEX META-USD	+0.0050%	1h	744.01	+0.034%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.98	−0.105%	$819K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	743.80	+0.005%	$2.2M	$13.7M	10x	as long as short
Popdex METAUSDT	+0.0064%	1h	744.03	+0.036%	$179K	$199K	20x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	744.72	+0.129%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.11	+0.047%	$1.6M	$596K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.73	−0.004%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythosshort	+0.0100%	8h	744.10	+0.046%	$1K	$24	10x
Paradex META-USD-PERP	+0.0100%	8h	744.23	+0.063%	—	—	5x	as long as short
Aevo META-PERP	+0.0104%	1h	743.95	+0.026%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.82	+0.008%	$623K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.53	+0.372%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0224%	1h	744.46	+0.094%	$33K	$105	20x	as long as short
Lighter META	+0.0256%	1h	744.27	+0.069%	$862K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0313%	1h	744.17	+0.055%	$69.9M	$120.9M	20x	as long as short
Phoenix META	+0.0633%	1h	745.49	+0.233%	$750K	$1.4M	20x	as long as short