Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Bitget−0.051%103s7-day average −0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as 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−$560.555% of the position

Long on Bitget Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.206%+$21 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now −0.051%, 7d avg −0.048%

Together, before fees+0.166%+$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.048%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 103 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	Bitget METAUSDT	739.80	0	get 0.0000% / 8h	5h 03m	$5.7M	$12.0M	100x
Short	ApeX Omni METAUSDT	739.42	0.0100	get 0.0013% / 1h	3m 48s	$166K	$71K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bitget. 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 BitgetbpFee ApeX OmnibpOrdersPrice spread, now −0.051%Rate

Funding earned: $21
Price spread: −0.051% → −0.048%: −$0.35
Slippage, 4 orders: −$33.54
Fee Bitget: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$34.89
Costs to cover: 0.555%
Break-even: 18.6 days

Slippage from Bitget: live order book, 3 min ago; ApeX Omni: live order book, 40 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 Bitget live order book, 3 min ago	1.01 bp	10.9 bp −$11	21.7 bp −$217	36.9 bp −$3,695	doesn't fit
Sell ApeX Omni live order book, 40 min ago	2.63 bp	16.1 bp −$16	568.3 bp −$5,683	doesn't fit	doesn't fit

META on 37 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	739.81	+0.001%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.14	+0.046%	$337K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.00	+0.027%	$492K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.61	−0.026%	$545K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.87	+0.009%	$25.3M	$190.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.61	−0.026%	$7.5M	$16.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.92	+0.016%	$6.0M	$13.0M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.93	+0.018%	$467K	$6.4M	100x	as long as short
Bitget METAUSDTlong	0.0000%	8h	739.80	long leg	$5.7M	$12.0M	100x
Variational Omni META	0.0000%	8h	739.78	−0.002%	$2.6M	$3.1M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	740.12	+0.043%	$12K	$427K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.08	+0.038%	$836	$6.8M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.86	+0.008%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.08	+0.038%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.03	+0.031%	$856K	$2.9M	20x	as long as short
QFEX META-USD	+0.0038%	1h	739.92	+0.016%	$2.2M	$13.9M	10x	as long as short
Arcus META-USD	+0.0040%	1h	739.62	−0.024%	$111K	$291K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.08	+0.038%	—	$11K	25x	as long as short
Deribit META_USDC-PERPETUAL	+0.0048%	1h	739.50	−0.041%	$36K	$208K	10x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.62	−0.024%	$557K	$594K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.74	−0.008%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.26	−0.073%	$753K	$5.1M	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	739.76	−0.005%	$645K	$7.2M	10x	as long as short
Paradex META-USD-PERP	+0.0069%	8h	739.83	+0.004%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	740.61	+0.109%	$53K	$86K	10x	as long as short
Pacifica META	+0.0100%	1h	739.46	−0.046%	$609	$3K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.01	+0.028%	$1.6M	$923K	20x	as long as short
ApeX Omni METAUSDTshort	+0.0100%	1h	739.42	−0.051%	$166K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.94	+0.019%	$1K	$338	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.72	−0.011%	$266	—	10x	as long as short
Nado META-PERP	+0.0124%	1h	739.49	−0.043%	$474K	$535K	20x	as long as short
Popdex METAUSDT	+0.0144%	1h	740.09	+0.039%	$178K	$199K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.41	+0.218%	$167K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0319%	1h	739.77	−0.004%	$86.9M	$136.0M	20x	as long as short
Lighter META	+0.0368%	1h	739.98	+0.024%	$1.2M	$2.7M	20x	as long as short
edgeX METAUSDC	+0.0568%	4h	740.12	+0.044%	$62K	$349K	10x	as long as short
Phoenix META	+0.0613%	1h	740.46	+0.089%	$791K	$1.5M	20x	as long as short