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 +0.023%

Price spread now: Ondo Perps against SunX−0.053%7-day average −0.106% · you buy dearer than you sell

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

Long on SunX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 3 days (all we have)−0.168%−$17 · spread now −0.053%, 7d avg −0.106%

Together, before fees−0.049%+ Points / potential airdropOndo Perps: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.053% dearer against SunX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.106%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	741.57	0	get 0.0000% / 8h	1h 27m	$1K	$9.5M	20x
Short	Ondo Perps META-USD.P	741.18	0.0050	get 0.0006% / 1h	27m 31s	$639K	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.053%Rate

Funding earned: $10.58
Price spread: −0.053% → −0.106%: $5.3
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $2.89
Costs to cover: 0.130%
Break-even: 5.1 days

Slippage unknown: SunX: live order book, 12 min ago; Ondo Perps: 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 SunX live order book, 12 min ago	28.16 bp	32.2 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	741.34	−0.031%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0085%	1h	741.30	−0.036%	$396K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	+0.026%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.14	−0.058%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.28	−0.039%	$27.0M	$178.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.32	−0.034%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.36	−0.028%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.75	−0.111%	$343K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.36	−0.028%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.62	−0.128%	$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	741.30	−0.036%	$12K	$506K	10x	as long as short
SunX META-USDTlong	0.0000%	8h	741.57	long leg	$1K	$9.5M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.44	−0.018%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.09	−0.065%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.20	−0.050%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	741.09	−0.065%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.64	+0.009%	$749K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.85	−0.097%	$111K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.80	+0.031%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.29	−0.038%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.34	−0.031%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.27	−0.040%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	741.17	−0.054%	—	—	5x	as long as short
Ondo Perps META-USD.Pshort	+0.0050%	1h	741.18	−0.053%	$639K	$4.1M	10x
Aftermath Perps METAUSD	+0.0053%	1h	741.46	−0.015%	$48K	$64K	10x	as long as short
Lighter META	+0.0056%	1h	741.61	+0.005%	$862K	$2.5M	20x	as long as short
Hotstuff META-PERP	+0.0064%	1h	741.43	−0.019%	$33K	$105	20x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.91	−0.089%	$606K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	741.12	−0.061%	$291K	$791K	20x	as long as short
tradeXYZ xyz:META	+0.0096%	1h	741.46	−0.015%	$68.6M	$120.9M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.21	−0.049%	$1.6M	$363K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.02	−0.074%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.28	−0.039%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.20	−0.049%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.58	−0.134%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0566%	4h	741.12	−0.060%	$62K	$332K	10x	as long as short