Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.018%

Price spread now: Orderly against QFEX+0.022%7-day average — · you sell dearer than you buy

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

Long on QFEX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 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 +$3 a day on $10k at the current rate, and Orderly is 0.022% dearer against QFEX than usual: you sell high and buy low: +$2 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	QFEX META-USD	741.18	0.0003	pay 0.0000% / 1h	20m 12s	$2.2M	$14.2M	10x
Short	Orderly PERP_META_USDC_mythos	741.34	0.0100	get 0.0100% / 8h	1h 20m	$1K	$24	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against QFEX. 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 QFEXbpFee OrderlybpOrdersPrice spread, now +0.022%Rate

Funding earned: $20.31
Price spread: +0.022% → 0.000%: $2.16
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $6.47
Costs to cover: 0.160%
Break-even: 4.8 days

Slippage unknown: QFEX: live order book, 4 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 QFEX live order book, 4 min ago	2.43 bp	7.4 bp −$7	7.7 bp −$77	18.1 bp −$1,815	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	741.25	+0.009%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0079%	1h	741.24	+0.009%	$395K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	+0.078%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.07	−0.015%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.20	+0.002%	$26.9M	$178.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.24	+0.008%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.09	−0.012%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.90	−0.038%	$343K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.21	+0.004%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	741.31	+0.018%	$1.6M	$2.6M	—	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	741.33	+0.020%	$12K	$504K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.23	+0.007%	$695	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.19	+0.001%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.07	−0.015%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.26	+0.011%	$2.0M	$7K	10x	as long as short
QFEX META-USDlong	+0.0003%	1h	741.18	long leg	$2.2M	$14.2M	10x
Lighter RH META	+0.0032%	1h	741.53	+0.047%	$749K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.96	−0.030%	$111K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.68	+0.067%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.26	+0.011%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.33	+0.020%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.21	+0.004%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	741.21	+0.004%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.12	−0.008%	$648K	$4.1M	10x	as long as short
Aftermath Perps METAUSD	+0.0054%	1h	741.95	+0.104%	$50K	$66K	10x	as long as short
Lighter META	+0.0064%	1h	741.50	+0.043%	$862K	$2.5M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.91	−0.036%	$606K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	741.24	+0.008%	$291K	$791K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.16	−0.003%	$1.6M	$365K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.97	−0.028%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythosshort	+0.0100%	8h	741.34	+0.022%	$1K	$24	10x
tradeXYZ xyz:META	+0.0102%	1h	741.33	+0.020%	$68.6M	$120.9M	20x	as long as short
Aevo META-PERP	+0.0104%	1h	741.11	−0.009%	$267	—	10x	as long as short
Hotstuff META-PERP	+0.0144%	1h	741.33	+0.020%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.35	+0.293%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0878%	4h	741.29	+0.015%	$62K	$330K	10x	as long as short