Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0170%/8h= −18.7% APRpaid last 24h −0.020%

Price spread now: BloFin against Ondo Perps+0.034%875s7-day average +0.100% · you sell dearer than you buy

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

Long on Ondo Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.302%−$30 on $10k

Price spread, last 3 days (all we have)+0.128%+$13 · spread now +0.034%, 7d avg +0.100%

Together, before fees−0.174%+ Points / potential airdropOndo Perps: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and BloFin is 0.066% cheaper against Ondo Perps than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.100%). Swap the legs. The two prices were read 875 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	Ondo Perps META-USD.P	739.74	0.0050	pay 0.0006% / 1h	34m 24s	$697K	$4.3M	10x
Short	BloFin META-USDT	739.99	−0.0120	pay 0.0120% / 8h	6h 34m	$327K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Ondo Perps. 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 Ondo PerpsbpFee BloFinbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$35.78
Price spread: +0.034% → +0.100%: −$6.57
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$59.36
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; BloFin: live order book, 18 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell BloFin live order book, 18 min ago	0.74 bp	7.9 bp −$8	11.4 bp −$114	doesn't fit	doesn't fit

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 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
Nado META-PERP	−0.0138%	1h	739.88	+0.019%	$478K	$546K	20x	as long as short
BloFin META-USDTshort	−0.0120%	8h	739.99	+0.034%	$327K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	740.75	+0.137%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.46	+0.098%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.56	+0.111%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.53	+0.107%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.55	+0.109%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.94	+0.027%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.45	+0.096%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.13	+0.053%	$2.3M	$3.1M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	739.97	+0.031%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.71	+0.131%	$678	$9.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.54	+0.108%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.16	+0.057%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.14	+0.054%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.39	+0.088%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.77	+0.004%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.41	+0.091%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.42	+0.092%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.21	+0.064%	$558K	$855K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.31	+0.077%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.Plong	+0.0050%	1h	739.74	long leg	$697K	$4.3M	10x
Paradex META-USD-PERP	+0.0057%	8h	740.17	+0.058%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0068%	1h	740.74	+0.135%	$49K	$80K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0074%	1h	740.49	+0.101%	$31K	$244K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.16	+0.057%	$1.6M	$477K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.45	−0.039%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.34	+0.081%	$1K	$24	10x	as long as short
Lighter META	+0.0104%	1h	740.31	+0.077%	$855K	$2.4M	20x	as long as short
Aevo META-PERP	+0.0104%	1h	740.25	+0.068%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.16	+0.057%	$610K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.34	+0.081%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0168%	4h	739.75	+0.001%	$62K	$335K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.56	−0.024%	$170K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0254%	1h	740.37	+0.085%	$68.3M	$120.3M	20x	as long as short
Phoenix META	+0.0313%	1h	740.68	+0.127%	$394K	$1.1M	20x	as long as short