Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0453%/8h= +49.6% APRpaid last 24h +0.030%

Price spread now: tradeXYZ against Variational Omni+0.093%7-day average −0.037% · you sell dearer than you buy

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

Long on Variational Omni Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.083%+$8 on $10k

Price spread, last 7 days−0.115%−$12 · spread now +0.093%, 7d avg −0.037%

Together, before fees−0.033%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and tradeXYZ is 0.130% dearer against Variational Omni than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.037%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.083% in total (about 8.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni META	745.86	0	get 0.0000% / 8h	2h 06m	$2.4M	$3.3M	—
Short	tradeXYZ xyz:META	746.55	0.0453	get 0.0057% / 1h	6m 21s	$76.1M	$125.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.093%Rate

Funding earned: $95.12
Price spread: +0.093% → −0.037%: $12.99
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $90.11
Costs to cover: 0.180%
Break-even: 0.4 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; tradeXYZ: live order book, 13 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, 3 min ago	2.46 bp	doesn't fit	18.8 bp −$188	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 13 min ago	0.27 bp	10.2 bp −$10	12.1 bp −$121	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	745.99	+0.018%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0001%	1h	745.82	−0.005%	$483K	$558K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.85	−0.001%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.02	+0.022%	$549K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.22	+0.049%	$27.7M	$182.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.17	+0.042%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.33	+0.063%	$6.1M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.66	−0.027%	$434K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.30	+0.059%	$5.5M	$12.1M	100x	as long as short
Variational Omni METAlong	0.0000%	8h	745.86	long leg	$2.4M	$3.3M	—

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	746.02	+0.021%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.01	+0.020%	$658	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.88	+0.003%	$31K	$263K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.05	+0.026%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.88	+0.003%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.48	+0.083%	$776K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.37	−0.066%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.37	+0.068%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.93	+0.009%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.26	+0.054%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.83	−0.004%	$587K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.25	+0.052%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.57	−0.039%	$752K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	746.02	+0.021%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	746.25	+0.053%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.83	−0.004%	$1.6M	$657K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.52	−0.046%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.16	+0.040%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.97	+0.015%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.40	−0.062%	$656K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.291%	$172K	$46K	30x	as long as short
Lighter META	+0.0304%	1h	746.51	+0.087%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	746.41	+0.074%	$33K	$105	20x	as long as short
tradeXYZ xyz:METAshort	+0.0453%	1h	746.55	+0.093%	$76.1M	$125.7M	20x
Phoenix META	+0.0685%	1h	746.97	+0.149%	$798K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0903%	4h	745.78	−0.011%	$62K	$339K	10x	as long as short