Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against SunX−0.115%73s7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1231.233% of the position

Long on SunX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 3 days (all we have)−0.043%−$4 · spread now −0.115%, 7d avg −0.062%

Together, before fees+0.167%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.053% cheaper against SunX than usual: you would sell low and buy high (spread −0.115% now, against its 7-day average of −0.062%). If the spread goes back, that is −$5 on $10k: about 42 hours of funding at the current rate (+$3 a day). The two prices were read 73 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	SunX META-USDT	740.28	0	get 0.0000% / 8h	7h 47m	$899	$9.4M	20x
Short	ApeX Omni METAUSDT	739.43	0.0100	get 0.0013% / 1h	47m 54s	$166K	$72K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against SunX. 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 SunXbpFee ApeX OmnibpOrdersPrice spread, now −0.115%Rate

Funding earned: $21
Price spread: −0.115% → −0.062%: −$5.27
Slippage, 4 orders: −$105.31
Fee SunX: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$107.58
Costs to cover: 1.233%
Break-even: 42.9 days

Slippage from SunX: live order book, 11 min ago; ApeX Omni: live order book, 23 min ago.

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 SunX live order book, 11 min ago	28.40 bp	32.4 bp −$32	61.5 bp −$615	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 23 min ago	2.63 bp	39.9 bp −$40	658.5 bp −$6,585	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	740.33	+0.007%	$327K	$1.1M	20x	as long as short
Phemex METAUSDT	−0.0086%	4h	740.78	+0.068%	$2.0M	$7K	10x	as long as short
Aster METAUSDT	0.0000%	8h	740.94	+0.089%	$463K	$546K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.19	−0.012%	$549K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.33	+0.007%	$27.4M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.30	+0.003%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.20	−0.011%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.03	−0.034%	$357K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.23	−0.007%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.73	−0.074%	$2.3M	$3.2M	—	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	740.20	−0.011%	$12K	$486K	10x	as long as short
SunX META-USDTlong	0.0000%	8h	740.28	long leg	$899	$9.4M	20x
HTX META-USDT	0.0000%	8h	740.21	−0.009%	$106K	$292K	30x	as long as short
Nado META-PERP	+0.0025%	1h	739.89	−0.052%	$382K	$335K	20x	as long as short
Lighter RH META	+0.0032%	1h	740.48	+0.027%	$758K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.50	+0.030%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.32	+0.005%	$178K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.15	−0.018%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.20	−0.011%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.58	−0.095%	$735K	$4.3M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.26	−0.003%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	739.77	−0.069%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0069%	8h	740.15	−0.017%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.61	+0.044%	$50K	$77K	10x	as long as short
Hotstuff META-PERP	+0.0080%	1h	740.17	−0.015%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.38	+0.014%	$1.6M	$415K	20x	as long as short
ApeX Omni METAUSDTshort	+0.0100%	1h	739.43	−0.115%	$166K	$72K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.37	+0.012%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.20	−0.010%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0109%	1h	740.09	−0.026%	$67.7M	$121.3M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	739.59	−0.093%	$601K	$7.3M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.93	+0.223%	$169K	$46K	30x	as long as short
Lighter META	+0.0256%	1h	740.34	+0.008%	$856K	$2.4M	20x	as long as short
Phoenix META	+0.0259%	1h	740.16	−0.016%	$277K	$930K	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0453%	1h	740.52	+0.032%	$30K	$253K	10x	as long as short
edgeX METAUSDC	+0.0474%	4h	740.08	−0.028%	$62K	$333K	10x	as long as short