Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0338%/8h= −37.1% APRpaid last 24h −0.026%

Price spread now: Orderly against tradeXYZ−0.038%7-day average — · you buy dearer than you sell

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

Long on tradeXYZ Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdroptradeXYZ: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Orderly is 0.038% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:META	744.12	0.0438	pay 0.0055% / 1h	24m 34s	$74.7M	$124.8M	20x
Short	Orderly PERP_META_USDC_mythos	743.84	0.0100	get 0.0100% / 8h	2h 24m	$1K	$24	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against tradeXYZ. 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 tradeXYZbpFee OrderlybpOrdersPrice spread, now −0.038%Rate

Funding earned: −$71.07
Price spread: −0.038% → 0.000%: −$3.76
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$98.83
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 5 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 tradeXYZ live order book, 5 min ago	0.61 bp	10.4 bp −$10	doesn't fit	doesn't fit	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	744.02	−0.013%	$331K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.43	+0.041%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.65	−0.064%	$544K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.77	−0.047%	$27.7M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.87	−0.034%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.86	−0.035%	$6.0M	$12.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.38	−0.099%	$440K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.92	−0.027%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	743.94	−0.024%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.10	−0.137%	$12K	$442K	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	744.24	+0.016%	$610	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.42	−0.094%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.79	−0.044%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.28	−0.113%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0020%	1h	743.68	−0.059%	$481K	$558K	20x	as long as short
Lighter RH META	+0.0032%	1h	744.02	−0.013%	$769K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.21	−0.122%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.16	+0.005%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.69	−0.058%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.72	−0.054%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.38	−0.099%	$585K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.75	−0.050%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.52	−0.081%	$736K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0075%	8h	743.78	−0.046%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	744.01	−0.014%	$51K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.69	−0.058%	$1.6M	$646K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.02	−0.148%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythosshort	+0.0100%	8h	743.84	−0.038%	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	743.66	−0.061%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.58	−0.073%	$655K	$7.8M	10x	as long as short
edgeX METAUSDC	+0.0212%	4h	743.26	−0.116%	$62K	$339K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.90	+0.239%	$172K	$46K	30x	as long as short
Lighter META	+0.0312%	1h	744.16	+0.005%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	744.14	+0.003%	$33K	$105	20x	as long as short
tradeXYZ xyz:METAlong	+0.0438%	1h	744.12	long leg	$74.7M	$124.8M	20x
Phoenix META	+0.0685%	1h	744.15	+0.004%	$795K	$1.4M	20x	as long as short