Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.007%

Price spread now: OKX against SoDEX+0.060%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on OKX

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

The price spread pays, funding is against you. OKX is 0.060% dearer against SoDEX than usual: you sell high and buy low (spread +0.060% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX META-USD	746.74	0.0050	pay 0.0006% / 1h	4m 17s	$25K	$3K	10x
Short	OKX META-USDT-SWAP	747.19	0	get 0.0000% / 8h	4m 17s	$6.0M	$12.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against SoDEX. 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 SoDEXbpFee OKXbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$10.5
Price spread: +0.060% → 0.000%: $6.03
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$22.47
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; OKX: live order book, 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 SoDEX no order-book sample	—	—	—	—	—
Sell OKX live order book, 4 min ago	0.27 bp	11.0 bp −$11	20.2 bp −$202	doesn't fit	doesn't fit

SoDEX: 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	746.67	−0.009%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.58	−0.022%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.71	−0.004%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.94	+0.026%	$25.4M	$189.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.96	+0.029%	$7.6M	$15.5M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	747.19	+0.060%	$6.0M	$12.8M	20x
Gate META_USDT	0.0000%	8h	746.40	−0.046%	$473K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	747.02	+0.037%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	746.51	−0.030%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.79	+0.007%	$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	747.00	+0.035%	$929	$8.0M	20x	as long as short
HTX META-USDT	0.0000%	8h	746.93	+0.025%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.33	+0.079%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0015%	1h	746.22	−0.069%	$481K	$560K	20x	as long as short
QFEX META-USD	+0.0031%	1h	746.77	+0.004%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0040%	1h	747.02	+0.037%	$797K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.51	−0.031%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.26	+0.070%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.66	−0.011%	$568K	$621K	10x	as long as short
SoDEX META-USDlong	+0.0050%	1h	746.74	long leg	$25K	$3K	10x
Ondo Perps META-USD.P	+0.0050%	1h	746.57	−0.023%	$734K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	746.49	−0.034%	—	—	5x	as long as short
Deribit META_USDC-PERPETUAL	+0.0072%	1h	746.52	−0.029%	$34K	$276K	10x	as long as short
Popdex METAUSDT	+0.0072%	1h	747.04	+0.040%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.73	+0.133%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	747.06	+0.043%	$634	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.86	+0.016%	$1.6M	$730K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.01	−0.098%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.77	+0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.56	−0.025%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.42	−0.043%	$643K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.54	+0.375%	$177K	$51K	30x	as long as short
Lighter META	+0.0456%	1h	747.17	+0.058%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	747.20	+0.062%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0471%	4h	746.62	−0.016%	$62K	$345K	10x	as long as short
tradeXYZ xyz:META	+0.0563%	1h	747.43	+0.092%	$83.7M	$131.7M	20x	as long as short
Phoenix META	+0.0750%	1h	747.82	+0.145%	$798K	$1.5M	20x	as long as short