Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against SunX−0.099%73s7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1171.171% of the position

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 4 days (all we have)−0.410%−$41 · spread now −0.099%, 7d avg −0.060%

Together, before fees−0.200%−$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.039% cheaper against SunX than usual: you would sell low and buy high (spread −0.099% now, against its 7-day average of −0.060%). If the spread goes back, that is −$4 on $10k: about 31 hours of funding at the current rate (+$3 a day). The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	746.49	0	get 0.0000% / 8h	7h 47m	$1K	$7.9M	20x
Short	ApeX Omni METAUSDT	745.75	0.0100	get 0.0013% / 1h	47m 49s	$167K	$71K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now −0.099%Rate

Funding earned: $21
Price spread: −0.099% → −0.060%: −$3.91
Slippage, 4 orders: −$99.14
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$100.05
Costs to cover: 1.171%
Break-even: 40.4 days

Slippage from SunX: live order book, 11 min ago; ApeX Omni: live order book, 48 min ago.

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 SunX live order book, 11 min ago	28.17 bp	32.2 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 48 min ago	2.62 bp	23.7 bp −$24	614.1 bp −$6,141	doesn't fit	doesn't fit

META on 37 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	746.49	0.000%	$334K	$1.1M	20x	as long as short
Nado META-PERP	−0.0048%	1h	745.96	−0.071%	$481K	$561K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.95	+0.061%	$484K	$597K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.18	−0.041%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.35	−0.019%	$25.7M	$191.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.32	−0.023%	$7.5M	$15.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.24	−0.033%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.74	−0.100%	$474K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.25	−0.032%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	746.52	+0.004%	$2.5M	$3.0M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	745.97	−0.069%	$12K	$440K	10x	as long as short
SunX META-USDTlong	0.0000%	8h	746.49	long leg	$1K	$7.9M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.02	−0.063%	$53K	$290K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.10	−0.052%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.37	−0.016%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.57	+0.011%	$796K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	746.22	−0.036%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.95	−0.072%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.41	−0.011%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.15	−0.046%	$180K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.69	−0.107%	$567K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.37	−0.016%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.70	−0.106%	$725K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	746.52	+0.004%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.56	+0.009%	$49K	$90K	10x	as long as short
Pacifica META	+0.0100%	1h	746.33	−0.022%	$636	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.40	−0.012%	$1.6M	$748K	20x	as long as short
ApeX Omni METAUSDTshort	+0.0100%	1h	745.75	−0.099%	$167K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.33	−0.021%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.16	−0.045%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	746.01	−0.064%	$649K	$8.1M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.08	+0.213%	$177K	$52K	30x	as long as short
Lighter META	+0.0224%	1h	746.72	+0.031%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0269%	1h	746.12	−0.050%	$84.3M	$132.7M	20x	as long as short
Hotstuff META-PERP	+0.0384%	1h	746.12	−0.050%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0572%	4h	746.25	−0.032%	$63K	$346K	10x	as long as short
Phoenix META	+0.0791%	1h	746.41	−0.011%	$797K	$1.5M	20x	as long as short