Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.003%

Price spread now: Variational Omni against Aevo+0.038%48s7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Variational Omni is 0.038% dearer against Aevo than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 29 hours. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo META-PERP	741.07	0.0104	pay 0.0013% / 1h	32m 25s	$267	—	10x
Short	Variational Omni META	741.36	0	get 0.0000% / 8h	3h 32m	$1.7M	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Aevo. 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 AevobpFee Variational OmnibpOrdersPrice spread, now +0.038%Rate

Funding earned: −$21.84
Price spread: +0.038% → 0.000%: $3.8
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$34.04
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Variational Omni: RFQ quote, 2 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 Aevo no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 2 min ago	2.89 bp	doesn't fit	17.8 bp −$178	doesn't fit	doesn't fit

Aevo: 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	741.07	−0.001%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.70	+0.084%	$456K	$534K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.77	−0.042%	$561K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.87	−0.028%	$27.4M	$175.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.10	+0.003%	$7.6M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.77	−0.041%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.63	−0.060%	$328K	$5.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.86	−0.029%	$6.1M	$10.4M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	741.36	+0.038%	$1.7M	$2.4M	—
GRVT META_USDT_Perp	0.0000%	8h	741.22	+0.020%	$12K	$547K	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	741.02	−0.007%	$777	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.93	−0.019%	$30K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.80	−0.037%	$105K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.45	+0.051%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0026%	1h	740.76	−0.043%	$349K	$286K	20x	as long as short
Lighter RH META	+0.0032%	1h	741.17	+0.013%	$737K	$3.2M	20x	as long as short
Phoenix META	+0.0032%	1h	741.32	+0.033%	$304K	$774K	20x	as long as short
QFEX META-USD	+0.0037%	1h	741.03	−0.006%	$2.2M	$14.1M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.37	+0.040%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.87	−0.028%	$177K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.89	−0.025%	$540K	$836K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.03	−0.006%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.50	−0.078%	$716K	$3.8M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	740.92	−0.022%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0061%	1h	741.75	+0.091%	$37K	$52K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0072%	1h	741.22	+0.020%	$618K	$7.3M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.84	−0.032%	$1.6M	$316K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.91	−0.022%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.33	+0.034%	$1K	$24	10x	as long as short
Aevo META-PERPlong	+0.0104%	1h	741.07	long leg	$267	—	10x
tradeXYZ xyz:META	+0.0193%	1h	740.90	−0.024%	$69.4M	$118.9M	20x	as long as short
Lighter META	+0.0216%	1h	741.23	+0.021%	$861K	$2.6M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.53	−0.073%	$171K	$47K	30x	as long as short
Arcus META-USD	+0.0224%	1h	740.82	−0.034%	$263K	$313K	10x	as long as short
Hotstuff META-PERP	+0.0232%	1h	740.87	−0.028%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0832%	4h	741.23	+0.021%	$62K	$327K	10x	as long as short