Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.005%

Price spread now: Bybit against ApeX Omni+0.072%99s7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$520.519% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.185%−$18 on $10k

Price spread, last 4 days (all we have)+0.062%+$6 · spread now +0.072%, 7d avg +0.041%

Together, before fees−0.123%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.030% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of +0.041%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 24 hours. The two prices were read 99 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	ApeX Omni METAUSDT	739.34	0.0100	pay 0.0013% / 1h	39m 48s	$166K	$71K	50x
Short	Bybit METAUSDT	739.87	0	get 0.0000% / 8h	6h 39m	$7.5M	$13.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$21
Price spread: +0.072% → +0.041%: $3.03
Slippage, 4 orders: −$30.91
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$69.89
Costs to cover: 0.519%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 26 min ago; Bybit: live order book, 4 min ago.

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 ApeX Omni live order book, 26 min ago	2.63 bp	15.4 bp −$15	379.5 bp −$3,795	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.84 bp	9.6 bp −$10	21.0 bp −$210	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
Deribit META_USDC-PERPETUAL	−0.0264%	1h	739.36	+0.003%	$31K	$244K	10x	as long as short
Nado META-PERP	−0.0146%	1h	739.78	+0.059%	$478K	$547K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	739.99	+0.088%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.68	+0.181%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.61	+0.036%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.80	+0.062%	$27.3M	$179.3M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	739.87	+0.072%	$7.5M	$13.8M	100x
OKX META-USDT-SWAP	0.0000%	8h	739.71	+0.050%	$5.9M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.60	+0.035%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.92	+0.078%	$5.5M	$11.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	739.73	+0.053%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.13	+0.107%	$12K	$444K	10x	as long as short
SunX META-USDT	0.0000%	8h	739.93	+0.080%	$1K	$9.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.69	+0.047%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.05	+0.096%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	739.91	+0.077%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.14	+0.108%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.55	+0.028%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.32	+0.133%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.83	+0.066%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.71	+0.050%	$557K	$855K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.82	+0.065%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.24	−0.014%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	739.82	+0.065%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	740.46	+0.152%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.01	+0.091%	$1.6M	$469K	20x	as long as short
ApeX Omni METAUSDTlong	+0.0100%	1h	739.34	long leg	$166K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.85	+0.069%	$1K	$24	10x	as long as short
Lighter META	+0.0104%	1h	740.03	+0.093%	$855K	$2.4M	20x	as long as short
Aevo META-PERP	+0.0104%	1h	739.72	+0.052%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	739.45	+0.015%	$609K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0112%	1h	739.99	+0.088%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.58	+0.032%	$170K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0249%	1h	740.03	+0.093%	$68.3M	$120.5M	20x	as long as short
Phoenix META	+0.0313%	1h	740.70	+0.184%	$381K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0992%	4h	740.02	+0.092%	$62K	$334K	10x	as long as short