Funding arb · Price arb /

META

RWAall META markets

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 OKX−0.169%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$540.538% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.169%, 7d avg −0.044%

Together, before fees+0.289%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.125% cheaper against OKX than usual: you would sell low and buy high (spread −0.169% now, against its 7-day average of −0.044%). If the spread goes back, that is −$12 on $10k: about 4.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX META-USDT-SWAP	741.25	0	get 0.0000% / 8h	5h 43m	$6.0M	$12.9M	20x
Short	ApeX Omni METAUSDT	740.00	0.0100	get 0.0013% / 1h	43m 22s	$166K	$71K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.169%Rate

Funding earned: $21
Price spread: −0.169% → −0.044%: −$12.48
Slippage, 4 orders: −$33.82
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$45.3
Costs to cover: 0.538%
Break-even: 22.1 days

Slippage from OKX: live order book, 3 min ago; ApeX Omni: live order book, 1 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 OKX live order book, 3 min ago	0.07 bp	9.4 bp −$9	17.9 bp −$179	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 1 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	739.22	−0.274%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.88	−0.050%	$338K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.00	−0.034%	$492K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.90	−0.048%	$545K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.14	−0.014%	$25.8M	$192.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.62	−0.085%	$7.5M	$16.1M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	741.25	long leg	$6.0M	$12.9M	20x
Gate META_USDT	0.0000%	8h	740.62	−0.085%	$457K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.89	−0.049%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.35	−0.122%	$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	741.05	−0.028%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.95	−0.040%	$1K	$7.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.48	−0.104%	$36K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.62	−0.085%	$107K	$299K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.33	+0.011%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.29	+0.005%	$870K	$2.8M	20x	as long as short
QFEX META-USD	+0.0038%	1h	740.86	−0.053%	$2.2M	$14.0M	10x	as long as short
Arcus META-USD	+0.0040%	1h	740.58	−0.090%	$111K	$284K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.29	+0.005%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.66	−0.080%	$558K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.75	−0.067%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.72	−0.206%	$713K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	740.86	−0.053%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.14	−0.150%	$648K	$7.6M	10x	as long as short
Aftermath Perps METAUSD	+0.0073%	1h	741.09	−0.021%	$53K	$86K	10x	as long as short
Popdex METAUSDT	+0.0080%	1h	741.09	−0.022%	$178K	$201K	20x	as long as short
Pacifica META	+0.0100%	1h	740.53	−0.098%	$604	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.06	−0.026%	$1.6M	$884K	20x	as long as short
ApeX Omni METAUSDTshort	+0.0100%	1h	740.00	−0.169%	$166K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.96	−0.039%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.78	−0.063%	$267	—	10x	as long as short
Nado META-PERP	+0.0108%	1h	740.69	−0.076%	$475K	$552K	20x	as long as short
edgeX METAUSDC	+0.0123%	4h	740.59	−0.089%	$62K	$350K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.75	+0.337%	$168K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0285%	1h	741.04	−0.028%	$86.0M	$135.5M	20x	as long as short
Lighter META	+0.0352%	1h	741.23	−0.003%	$1.2M	$2.7M	20x	as long as short
Phoenix META	+0.0613%	1h	741.71	+0.062%	$792K	$1.5M	20x	as long as short