Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.009%

Price spread now: Aftermath Perps against Orderly−0.022%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aftermath Perps is 0.022% cheaper against Orderly than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_META_USDC_mythos	744.14	0.0100	pay 0.0100% / 8h	4h 13m	$1K	$24	10x
Short	Aftermath Perps METAUSD	743.98	0.0080	get 0.0010% / 1h	13m 59s	$52K	$82K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Orderly. 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 OrderlybpFee Aftermath PerpsbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$4.27
Price spread: −0.022% → 0.000%: −$2.2
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$21.48
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Aftermath 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 Orderly no order-book sample	—	—	—	—	—
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Orderly and Aftermath 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
BloFin META-USDT	−0.0120%	8h	743.98	−0.022%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0019%	1h	743.39	−0.100%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.41	−0.098%	$468K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.86	−0.037%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.07	−0.009%	$28.0M	$181.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.92	−0.030%	$7.6M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.00	−0.019%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.43	−0.095%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.11	−0.004%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	743.81	−0.044%	$2.4M	$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	743.92	−0.030%	$13K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.11	−0.004%	$934	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.99	−0.020%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.59	−0.074%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.98	−0.022%	$775K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.95	−0.026%	$2.2M	$13.8M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.49	−0.087%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.01	−0.017%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.21	+0.009%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.70	−0.059%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.96	−0.024%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.35	−0.106%	$800K	$4.5M	10x	as long as short
Paradex META-USD-PERP	+0.0071%	8h	743.89	−0.034%	—	—	5x	as long as short
Aftermath Perps METAUSDshort	+0.0080%	1h	743.98	−0.022%	$52K	$82K	10x
Deribit META_USDC-PERPETUAL	+0.0100%	1h	743.46	−0.091%	$31K	$246K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.78	−0.048%	$1.6M	$550K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.07	−0.144%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythoslong	+0.0100%	8h	744.14	long leg	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	743.84	−0.041%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	−0.051%	$615K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0168%	1h	743.87	−0.036%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.66	−0.199%	$171K	$48K	30x	as long as short
Lighter META	+0.0264%	1h	743.95	−0.026%	$865K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0277%	1h	743.83	−0.042%	$69.6M	$120.6M	20x	as long as short
edgeX METAUSDC	+0.0374%	4h	743.85	−0.040%	$62K	$338K	10x	as long as short
Phoenix META	+0.0591%	1h	744.70	+0.075%	$701K	$1.2M	20x	as long as short