Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h +0.011%

Price spread now: QFEX against Variational Omni+0.036%7-day average −0.025% · you sell dearer than you buy

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

Long on Variational Omni Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.007%−$1 on $10k

Price spread, last 7 days−0.059%−$6 · spread now +0.036%, 7d avg −0.025%

Together, before fees−0.066%+ Points / potential airdropVariational Omni: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.061% dearer against Variational Omni than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni META	744.70	0	get 0.0000% / 8h	7h 08m	$2.5M	$3.0M	—
Short	QFEX META-USD	744.97	0.0036	get 0.0005% / 1h	8m 06s	$2.2M	$14.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.036%Rate

Funding earned: $7.59
Price spread: +0.036% → −0.025%: $6.1
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: $3.69
Costs to cover: 0.100%
Break-even: 3.6 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; QFEX: live order book, 6 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, 1 min ago	2.46 bp	doesn't fit	24.6 bp −$246	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	1.61 bp	6.6 bp −$7	8.2 bp −$82	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	745.10	+0.053%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.80	+0.013%	$490K	$623K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.74	+0.005%	$546K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.99	+0.039%	$26.0M	$191.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.07	+0.049%	$7.5M	$15.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.02	+0.043%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.75	+0.006%	$441K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.97	+0.036%	$5.7M	$12.2M	100x	as long as short
Variational Omni METAlong	0.0000%	8h	744.70	long leg	$2.5M	$3.0M	—
GRVT META_USDT_Perp	0.0000%	8h	744.76	+0.008%	$13K	$438K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.08	+0.051%	$812	$7.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.67	−0.004%	$36K	$270K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.73	+0.004%	$108K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.99	+0.039%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0004%	1h	744.62	−0.012%	$479K	$559K	20x	as long as short
Lighter RH META	+0.0032%	1h	744.98	+0.037%	$797K	$3.0M	20x	as long as short
QFEX META-USDshort	+0.0036%	1h	744.97	+0.036%	$2.2M	$14.1M	10x
Arcus META-USD	+0.0040%	1h	744.64	−0.008%	$111K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.29	+0.079%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.08	+0.051%	$180K	$204K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.74	+0.005%	$566K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.91	+0.028%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.04	−0.089%	$727K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	744.91	+0.028%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0076%	1h	745.19	+0.066%	$51K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	744.31	−0.052%	$612	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.58	−0.016%	$1.6M	$791K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.59	−0.149%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.94	+0.032%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.75	+0.006%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	744.19	−0.069%	$642K	$8.0M	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	745.13	+0.057%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.78	+0.010%	$176K	$52K	30x	as long as short
Lighter META	+0.0288%	1h	745.20	+0.067%	$1.2M	$2.9M	20x	as long as short
edgeX METAUSDC	+0.0290%	4h	744.63	−0.010%	$63K	$347K	10x	as long as short
tradeXYZ xyz:META	+0.0291%	1h	745.05	+0.047%	$85.9M	$134.2M	20x	as long as short
Phoenix META	+0.0791%	1h	745.15	+0.060%	$795K	$1.5M	20x	as long as short