Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against Bybit+0.045%7-day average −0.066% · you sell dearer than you buy

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

Long on Bybit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.094%+$9 on $10k

Price spread, last 7 days+0.010%+$1 · spread now +0.045%, 7d avg −0.066%

Together, before fees+0.104%+ Points / potential airdropOndo Perps: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.111% dearer against Bybit than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit METAUSDT	739.21	0	get 0.0000% / 8h	5h 27m	$7.5M	$16.1M	100x
Short	Ondo Perps META-USD.P	739.54	0.0050	get 0.0006% / 1h	27m 05s	$744K	$5.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bybit. 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 BybitbpFee Ondo PerpsbpOrdersPrice spread, now +0.045%Rate

Funding earned: $10.58
Price spread: +0.045% → −0.066%: $11.06
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $5.64
Costs to cover: 0.160%
Break-even: 3.3 days

Slippage unknown: Bybit: live order book, 4 min ago; Ondo Perps: no order-book sample. 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 Bybit live order book, 4 min ago	1.76 bp	8.9 bp −$9	13.8 bp −$138	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 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	739.95	+0.100%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.01	+0.108%	$338K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.00	+0.107%	$492K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.36	+0.021%	$545K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.62	+0.055%	$25.6M	$192.8M	20x	as long as short
Bybit METAUSDTlong	0.0000%	8h	739.21	long leg	$7.5M	$16.1M	100x
OKX META-USDT-SWAP	0.0000%	8h	739.33	+0.016%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.05	+0.114%	$462K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.33	+0.016%	$5.7M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	740.19	+0.133%	$2.5M	$3.0M	—	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	740.39	+0.159%	$12K	$432K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.11	+0.122%	$730	$7.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.38	+0.023%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.43	+0.165%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	739.54	+0.045%	$870K	$2.8M	20x	as long as short
QFEX META-USD	+0.0038%	1h	740.06	+0.115%	$2.1M	$13.9M	10x	as long as short
Arcus META-USD	+0.0040%	1h	739.96	+0.101%	$111K	$290K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	739.99	+0.106%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.76	+0.074%	$557K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.42	+0.028%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.Pshort	+0.0050%	1h	739.54	+0.045%	$744K	$5.0M	10x
Paradex META-USD-PERP	+0.0061%	8h	739.92	+0.096%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	738.80	−0.055%	$650K	$7.5M	10x	as long as short
Aftermath Perps METAUSD	+0.0076%	1h	740.88	+0.226%	$53K	$86K	10x	as long as short
Pacifica META	+0.0100%	1h	739.42	+0.029%	$614	$3K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	739.74	+0.072%	$1.6M	$899K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.30	+0.012%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.77	+0.076%	$1K	$94	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.41	+0.027%	$266	—	10x	as long as short
Popdex METAUSDT	+0.0112%	1h	740.06	+0.115%	$178K	$198K	20x	as long as short
Nado META-PERP	+0.0124%	1h	739.56	+0.047%	$474K	$540K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.63	+0.327%	$167K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0328%	1h	739.98	+0.104%	$86.8M	$136.1M	20x	as long as short
Lighter META	+0.0344%	1h	739.49	+0.038%	$1.2M	$2.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0413%	1h	739.15	−0.008%	$36K	$213K	10x	as long as short
edgeX METAUSDC	+0.0544%	4h	740.29	+0.146%	$62K	$348K	10x	as long as short
Phoenix META	+0.0613%	1h	740.94	+0.234%	$791K	$1.5M	20x	as long as short