Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Polymarket Perps against Ondo Perps+0.240%50s7-day average +0.022% · you sell dearer than you buy

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

Long on Ondo Perps Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 7 days−0.499%−$50 · spread now +0.240%, 7d avg +0.022%

Together, before fees−0.484%+ Points / potential airdropOndo Perps: Active · farm board−$48 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.217% dearer against Ondo Perps than usual: you sell high and buy low, +$22 on $10k if it goes back to its 7-day average of +0.022%. The two prices were read 50 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	737.99	0.0050	pay 0.0006% / 1h	26m 32s	$761K	$5.1M	10x
Short	Polymarket Perps META-USD	739.76	0.0050	get 0.0006% / 1h	26m 32s	$557K	$612K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.240%Rate

Funding earned: −$0.08
Price spread: +0.240% → +0.022%: $21.74
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $8.65
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Polymarket Perps: live order book, 19 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 Polymarket Perps live order book, 19 min ago	1.42 bp	5.6 bp −$6	8.8 bp −$88	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 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	739.25	+0.171%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.01	+0.274%	$338K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	739.00	+0.137%	$491K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	738.37	+0.052%	$545K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	738.62	+0.085%	$25.5M	$193.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	738.39	+0.054%	$7.5M	$16.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	738.40	+0.056%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	738.64	+0.088%	$466K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	738.42	+0.058%	$5.8M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	740.19	+0.298%	$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	+0.325%	$12K	$432K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.11	+0.287%	$730	$7.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.38	+0.188%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.43	+0.331%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	738.58	+0.080%	$861K	$2.8M	20x	as long as short
QFEX META-USD	+0.0038%	1h	738.48	+0.066%	$2.1M	$13.9M	10x	as long as short
Arcus META-USD	+0.0040%	1h	738.33	+0.046%	$110K	$292K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	739.99	+0.271%	—	$11K	25x	as long as short
Polymarket Perps META-USDshort	+0.0050%	1h	739.76	+0.240%	$557K	$612K	10x
SoDEX META-USD	+0.0050%	1h	739.42	+0.194%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.Plong	+0.0050%	1h	737.99	long leg	$761K	$5.1M	10x
Paradex META-USD-PERP	+0.0062%	8h	738.03	+0.005%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	738.80	+0.110%	$650K	$7.5M	10x	as long as short
Aftermath Perps METAUSD	+0.0076%	1h	740.88	+0.391%	$53K	$86K	10x	as long as short
Pacifica META	+0.0100%	1h	738.51	+0.070%	$613	$3K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	739.09	+0.149%	$1.6M	$901K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.30	+0.178%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.77	+0.241%	$1K	$94	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.41	+0.192%	$266	—	10x	as long as short
Popdex METAUSDT	+0.0112%	1h	738.48	+0.066%	$177K	$198K	20x	as long as short
Nado META-PERP	+0.0124%	1h	739.56	+0.213%	$474K	$540K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.63	+0.493%	$167K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0330%	1h	738.57	+0.079%	$86.7M	$136.2M	20x	as long as short
Lighter META	+0.0352%	1h	738.55	+0.076%	$1.2M	$2.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0413%	1h	739.15	+0.157%	$36K	$213K	10x	as long as short
edgeX METAUSDC	+0.0544%	4h	740.29	+0.312%	$62K	$348K	10x	as long as short
Phoenix META	+0.0613%	1h	740.94	+0.400%	$791K	$1.5M	20x	as long as short