Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0012%/8hpaid last 24h +0.017%

Price spread now: Variational Omni against QFEX+0.659%7-day average +0.022% · you sell dearer than you buy

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

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.012%+$1 on $10k

Price spread, last 7 days−0.668%−$67 · spread now +0.659%, 7d avg +0.022%

Together, before fees−0.656%+ Points / potential airdropVariational Omni: Active · farm board−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.637% dearer against QFEX than usual: you sell high and buy low (spread +0.659% now, against its 7-day average of +0.022%): +$64 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 6 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX META-USD	744.89	0.0012	pay 0.0002% / 1h	4m 35s	$2.2M	$13.9M	10x
Short	Variational Omni META	749.80	0	get 0.0000% / 8h	4h 04m	$1.6M	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against QFEX. 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 QFEXbpFee Variational OmnibpOrdersPrice spread, now +0.659%Rate

Funding earned: −$2.54
Price spread: +0.659% → +0.022%: $63.73
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $51.19
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: QFEX: live order book, 4 min ago; Variational Omni: RFQ quote, 4 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 QFEX live order book, 4 min ago	2.13 bp	7.1 bp −$7	9.1 bp −$91	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	4.28 bp	doesn't fit	19.5 bp −$195	doesn't fit	doesn't fit

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	746.70	+0.243%	$336K	$1.1M	20x	as long as short
Hotstuff META-PERP	−0.0056%	1h	744.70	−0.026%	$33K	$105	20x	as long as short
Phoenix META	−0.0021%	1h	748.62	+0.501%	$314K	$622K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.15	+0.169%	$459K	$487K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.49	−0.054%	$555K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.42	−0.063%	$27.8M	$171.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.37	−0.070%	$7.8M	$13.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.33	−0.075%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.73	−0.021%	$336K	$5.1M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.68	−0.028%	$6.0M	$10.1M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni METAshort	0.0000%	8h	749.80	+0.659%	$1.6M	$2.4M	—
GRVT META_USDT_Perp	0.0000%	8h	750.71	+0.781%	$12K	$534K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.75	+0.250%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.84	+0.262%	$28K	$259K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.32	+0.192%	$106K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	748.07	+0.427%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0009%	1h	747.53	+0.354%	$414K	$237K	20x	as long as short
QFEX META-USDlong	+0.0012%	1h	744.89	long leg	$2.2M	$13.9M	10x
Lighter RH META	+0.0032%	1h	744.86	−0.004%	$728K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	748.34	+0.463%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.75	−0.019%	$176K	$196K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0048%	1h	747.01	+0.285%	$625K	$7.1M	10x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	746.32	+0.192%	$73.5M	$113.8M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	747.20	+0.310%	$544K	$836K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.75	+0.250%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.33	−0.075%	$724K	$3.8M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	745.88	+0.133%	—	—	5x	as long as short
Lighter META	+0.0080%	1h	744.90	+0.001%	$871K	$2.6M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.17	+0.172%	$1.6M	$306K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	750.10	+0.699%	$168K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.22	+0.313%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	747.07	+0.292%	$269	—	10x	as long as short
Arcus META-USD	+0.0128%	1h	744.69	−0.027%	$265K	$311K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	750.12	+0.702%	$170K	$43K	30x	as long as short
Aftermath Perps METAUSD	+0.0368%	1h	748.41	+0.472%	$37K	$52K	10x	as long as short
edgeX METAUSDC	+0.0976%	4h	747.70	+0.377%	$63K	$329K	10x	as long as short