Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.001%

Price spread now: Bybit against Variational Omni−0.045%7-day average −0.013% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days+0.005%$0 · spread now −0.045%, 7d avg −0.013%

Together, before fees+0.002%+ Points / potential airdropVariational Omni: Active · farm board$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.032% cheaper against Variational Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni META	742.03	0	get 0.0000% / 8h	4h 27m	$2.4M	$3.1M	—
Short	Bybit METAUSDT	741.69	0	get 0.0000% / 8h	4h 27m	$7.5M	$14.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now −0.045%Rate

Funding earned: $0
Price spread: −0.045% → −0.013%: −$3.23
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$14.23
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Bybit: live order book, 1 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 Variational Omni RFQ quote, 2 min ago	2.45 bp	doesn't fit	19.9 bp −$199	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.81 bp	8.4 bp −$8	16.3 bp −$163	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	742.14	+0.015%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0018%	1h	741.76	−0.036%	$479K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.35	+0.043%	$468K	$552K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.49	−0.072%	$549K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.69	−0.045%	$27.5M	$180.8M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	741.69	−0.045%	$7.5M	$14.0M	100x
OKX META-USDT-SWAP	0.0000%	8h	742.15	+0.017%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.79	−0.032%	$364K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.02	−0.001%	$5.3M	$11.7M	100x	as long as short
Variational Omni METAlong	0.0000%	8h	742.03	long leg	$2.4M	$3.1M	—

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	742.14	+0.015%	$13K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.17	+0.020%	$779	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.29	−0.099%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.71	−0.042%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.34	+0.042%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.91	−0.016%	$770K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	741.90	−0.017%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.75	−0.037%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.15	+0.017%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.10	+0.010%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.90	−0.017%	$584K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.88	−0.020%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.33	−0.094%	$709K	$4.4M	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	741.94	−0.011%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0082%	1h	742.50	+0.065%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.40	+0.051%	$1.6M	$546K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.33	−0.094%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.79	−0.032%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.66	−0.050%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	741.90	−0.017%	$625K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0168%	1h	742.23	+0.028%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.60	−0.057%	$171K	$48K	30x	as long as short
Lighter META	+0.0256%	1h	741.88	−0.020%	$857K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0295%	1h	741.82	−0.028%	$69.5M	$120.4M	20x	as long as short
edgeX METAUSDC	+0.0489%	4h	742.38	+0.047%	$62K	$338K	10x	as long as short
Phoenix META	+0.0591%	1h	743.01	+0.133%	$673K	$1.2M	20x	as long as short