Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Orderly against SoDEX+0.015%7-day average — · you sell dearer than you buy

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

Long on SoDEX 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

The price spread sits at zero (this spread has no 7-day history yet), 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	SoDEX META-USD	742.19	0.0050	pay 0.0006% / 1h	6m 06s	$24K	$3K	10x
Short	Orderly PERP_META_USDC_mythos	742.30	0.0100	get 0.0100% / 8h	1h 06m	$1K	$24	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against SoDEX. 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 SoDEXbpFee OrderlybpOrdersPrice spread, now +0.015%Rate

Funding earned: $10.5
Price spread: +0.015% → 0.000%: $1.48
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$2.02
Costs to cover: 0.140%
Break-even: 8.3 days

Slippage unknown: SoDEX: no order-book sample; 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 SoDEX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

SoDEX and 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	742.29	+0.013%	$327K	$1.1M	20x	as long as short
Nado META-PERP	−0.0052%	1h	741.90	−0.039%	$392K	$328K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.77	−0.056%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.08	−0.015%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.24	+0.007%	$27.2M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.06	−0.018%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.34	+0.020%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.71	−0.065%	$350K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.20	+0.001%	$5.8M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	742.23	+0.005%	$2.1M	$3.1M	—	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	742.18	−0.001%	$12K	$499K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.05	−0.019%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.87	−0.043%	$30K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.00	−0.026%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.38	+0.026%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	742.04	−0.020%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	742.41	+0.030%	$760K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.80	−0.053%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.33	+0.019%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.26	+0.009%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.24	+0.007%	$542K	$840K	10x	as long as short
SoDEX META-USDlong	+0.0050%	1h	742.19	long leg	$24K	$3K	10x
Ondo Perps META-USD.P	+0.0050%	1h	741.85	−0.046%	$721K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0052%	8h	742.10	−0.012%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0058%	1h	742.61	+0.057%	$53K	$69K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	742.12	−0.009%	$606K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	741.81	−0.051%	$291K	$791K	20x	as long as short
Hotstuff META-PERP	+0.0080%	1h	742.28	+0.012%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.15	−0.005%	$1.6M	$370K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.64	−0.074%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythosshort	+0.0100%	8h	742.30	+0.015%	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	742.12	−0.009%	$267	—	10x	as long as short
Lighter META	+0.0112%	1h	742.49	+0.040%	$863K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0138%	1h	742.24	+0.007%	$67.4M	$122.0M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.81	−0.051%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0539%	4h	742.29	+0.013%	$62K	$330K	10x	as long as short