Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0058%/8h= −6.3% APRpaid last 24h +0.014%

Price spread now: Variational Omni against QFEX+0.030%7-day average +0.024% · you sell dearer than you buy

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

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.009%+$1 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.030%, 7d avg +0.024%

Together, before fees−0.012%+ Points / potential airdropVariational Omni: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.024%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX META-USD	747.36	0.0058	pay 0.0007% / 1h	1m 51s	$2.2M	$13.8M	10x
Short	Variational Omni META	747.58	0	get 0.0000% / 8h	3h 01m	$2.4M	$3.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.030%Rate

Funding earned: −$12.1
Price spread: +0.030% → +0.024%: $0.63
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$21.47
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 7 min ago; Variational Omni: RFQ quote, 2 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 QFEX live order book, 7 min ago	1.47 bp	6.5 bp −$6	9.2 bp −$92	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.45 bp	doesn't fit	17.3 bp −$173	doesn't fit	doesn't fit

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	747.59	+0.031%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0001%	1h	746.86	−0.066%	$483K	$556K	20x	as long as short
Aster METAUSDT	0.0000%	8h	747.32	−0.006%	$492K	$578K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.72	−0.085%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.95	−0.055%	$28.5M	$182.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.09	−0.036%	$7.6M	$14.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.89	−0.063%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.60	−0.102%	$430K	$5.9M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	747.58	+0.030%	$2.4M	$3.2M	—
GRVT META_USDT_Perp	0.0000%	8h	747.40	+0.005%	$12K	$448K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	747.26	−0.013%	$903	$8.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.75	−0.082%	$31K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	747.05	−0.041%	$107K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	748.19	+0.111%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	747.45	+0.012%	$769K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	747.18	−0.024%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.59	+0.031%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.91	−0.060%	$588K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	747.22	−0.019%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.95	−0.055%	$770K	$4.6M	10x	as long as short
QFEX META-USDlong	+0.0058%	1h	747.36	long leg	$2.2M	$13.8M	10x
Paradex META-USD-PERP	+0.0065%	8h	747.18	−0.024%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	748.32	+0.129%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	747.34	−0.003%	$180K	$199K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	747.12	−0.032%	$1.6M	$626K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	747.07	−0.039%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.22	−0.019%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	747.17	−0.026%	$269	—	10x	as long as short
Bitget METAUSDT	+0.0108%	8h	746.95	−0.055%	$5.5M	$12.0M	100x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	747.51	+0.020%	$673K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.04	−0.043%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0264%	1h	747.97	+0.082%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	747.45	+0.012%	$929K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0353%	1h	747.53	+0.023%	$72.2M	$122.0M	20x	as long as short
Phoenix META	+0.0633%	1h	748.62	+0.169%	$802K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0817%	4h	747.32	−0.005%	$62K	$339K	10x	as long as short