Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.001%

Price spread now: ApeX Omni against Binance−0.205%99s7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as 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−$710.708% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.255%+$25 on $10k

Price spread, last 4 days (all we have)+0.291%+$29 · spread now −0.205%, 7d avg −0.047%

Together, before fees+0.546%+$55 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.158% cheaper against Binance than usual: you would sell low and buy high (spread −0.205% now, against its 7-day average of −0.047%). If the spread goes back, that is −$16 on $10k: about 5.3 days of funding at the current rate (+$3 a day). 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	Binance METAUSDT	747.14	0	get 0.0000% / 8h	3h 13m	$28.5M	$182.4M	20x
Short	ApeX Omni METAUSDT	745.61	0.0100	get 0.0013% / 1h	13m 51s	$167K	$71K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.205%Rate

Funding earned: $21
Price spread: −0.205% → −0.047%: −$15.82
Slippage, 4 orders: −$50.8
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$65.62
Costs to cover: 0.708%
Break-even: 28.9 days

Slippage from Binance: live order book, 14 min ago; ApeX Omni: live order book, 37 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 Binance live order book, 14 min ago	0.07 bp	5.4 bp −$5	14.4 bp −$144	52.1 bp −$5,211	doesn't fit
Sell ApeX Omni live order book, 37 min ago	2.62 bp	30.2 bp −$30	624.6 bp −$6,246	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	746.68	−0.062%	$331K	$1.1M	20x	as long as short
Nado META-PERP	0.0000%	1h	746.62	−0.070%	$483K	$554K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.67	−0.063%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.92	−0.030%	$554K	$2.7M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	747.14	long leg	$28.5M	$182.4M	20x
Bybit METAUSDT	0.0000%	8h	747.43	+0.039%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.27	+0.017%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.67	−0.063%	$381K	$5.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.53	−0.081%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.37	−0.103%	$13K	$452K	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	747.17	+0.004%	$997	$8.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.45	−0.092%	$31K	$247K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.83	−0.041%	$106K	$303K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.53	+0.052%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	747.06	−0.011%	$783K	$2.9M	20x	as long as short
Bitget METAUSDT	+0.0032%	8h	747.18	+0.005%	$5.5M	$11.8M	100x	as long as short
Arcus META-USD	+0.0040%	1h	746.15	−0.133%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.11	−0.004%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	747.06	−0.011%	$588K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.91	−0.031%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.37	−0.103%	$787K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	747.01	−0.017%	$2.2M	$13.7M	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	746.73	−0.055%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	747.00	−0.018%	$52K	$82K	10x	as long as short
edgeX METAUSDC	+0.0085%	4h	746.26	−0.118%	$62K	$339K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	747.19	+0.007%	$180K	$200K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.79	−0.047%	$1.6M	$619K	20x	as long as short
ApeX Omni METAUSDTshort	+0.0100%	1h	745.61	−0.205%	$167K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.78	−0.048%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.70	−0.059%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.89	−0.033%	$651K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.48	+0.179%	$173K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0240%	1h	746.74	−0.054%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	747.60	+0.062%	$868K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0325%	1h	747.38	+0.032%	$71.1M	$121.3M	20x	as long as short
Phoenix META	+0.0633%	1h	747.45	+0.041%	$798K	$1.4M	20x	as long as short