Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0069%/8h= −7.5% APRpaid last 24h −0.019%

Price spread now: QFEX against Orderly−0.017%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 QFEX

What this pair did over the last

the charts below follow

Funding, last 4 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_META_USDC_mythos	746.95	0.0100	pay 0.0100% / 8h	8m 50s	$1K	$24	10x
Short	QFEX META-USD	746.82	0.0031	get 0.0004% / 1h	8m 50s	$2.2M	$14.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$14.45
Price spread: −0.017% → 0.000%: −$1.74
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$32.19
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; QFEX: live order book, 5 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 Orderly no order-book sample	—	—	—	—	—
Sell QFEX live order book, 5 min ago	1.67 bp	6.7 bp −$7	7.0 bp −$70	16.6 bp −$1,662	doesn't fit

Orderly: 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 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	746.93	−0.003%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.52	−0.058%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.55	−0.053%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.79	−0.021%	$25.4M	$189.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.81	−0.019%	$7.5M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.89	−0.008%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.25	−0.094%	$473K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.83	−0.016%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	747.21	+0.035%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.23	+0.037%	$12K	$439K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	747.01	+0.008%	$815	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.35	−0.080%	$34K	$276K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.78	−0.023%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.33	+0.051%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0017%	1h	746.61	−0.045%	$482K	$560K	20x	as long as short
QFEX META-USDshort	+0.0031%	1h	746.82	−0.017%	$2.2M	$14.1M	10x
Lighter RH META	+0.0040%	1h	747.03	+0.011%	$797K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.93	−0.003%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.32	+0.050%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.70	−0.033%	$568K	$625K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.79	−0.021%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.50	−0.060%	$744K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	746.90	−0.006%	—	—	5x	as long as short
Popdex METAUSDT	+0.0072%	1h	747.01	+0.008%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0088%	1h	747.78	+0.111%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	747.07	+0.016%	$634	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.90	−0.007%	$1.6M	$724K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.55	−0.054%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythoslong	+0.0100%	8h	746.95	long leg	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	746.70	−0.034%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.79	−0.021%	$651K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	750.24	+0.440%	$177K	$51K	30x	as long as short
Lighter META	+0.0448%	1h	747.18	+0.031%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	747.32	+0.050%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0566%	1h	747.09	+0.019%	$83.6M	$131.6M	20x	as long as short
Phoenix META	+0.0750%	1h	748.59	+0.220%	$799K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0931%	4h	747.28	+0.044%	$62K	$344K	10x	as long as short