Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h +0.030%

Price spread now: Phoenix against Variational Omni+0.024%7-day average −0.013% · you sell dearer than you buy

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

Long on Variational Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.052%+$5 on $10k

Price spread, last 3 days (all we have)−0.139%−$14 · spread now +0.024%, 7d avg −0.013%

Together, before fees−0.087%+ Points / potential airdropVariational Omni: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phoenix is 0.037% dearer against Variational Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni META	740.53	0	get 0.0000% / 8h	1h 47m	$1.6M	$2.6M	—
Short	Phoenix META	740.71	0.0065	get 0.0008% / 1h	47m 04s	$291K	$791K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Variational Omni. 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 Variational OmnibpFee PhoenixbpOrdersPrice spread, now +0.024%Rate

Funding earned: $13.61
Price spread: +0.024% → −0.013%: $3.69
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $10.3
Costs to cover: 0.070%
Break-even: 1.7 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Phoenix: live order book, 36 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 Variational Omni RFQ quote, 2 min ago	2.61 bp	doesn't fit	21.9 bp −$219	doesn't fit	doesn't fit
Sell Phoenix live order book, 36 min ago	2.16 bp	8.2 bp −$8	14.5 bp −$145	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	740.44	−0.012%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0070%	1h	740.46	−0.010%	$396K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.33	+0.108%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.44	−0.012%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.55	+0.002%	$26.9M	$177.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.49	−0.006%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.39	−0.019%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.11	−0.057%	$327K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.59	+0.008%	$5.8M	$11.0M	100x	as long as short
Variational Omni METAlong	0.0000%	8h	740.53	long leg	$1.6M	$2.6M	—

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	740.86	+0.044%	$12K	$518K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.78	+0.033%	$973	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.53	0.000%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.29	−0.033%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.67	+0.019%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.47	−0.008%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.84	+0.042%	$747K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.35	−0.025%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.05	+0.070%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.59	+0.008%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.67	+0.019%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.53	0.000%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.48	−0.007%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.54	+0.001%	$649K	$4.0M	10x	as long as short
Aftermath Perps METAUSD	+0.0054%	1h	741.36	+0.111%	$48K	$64K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.90	+0.050%	$608K	$7.3M	10x	as long as short
Phoenix METAshort	+0.0065%	1h	740.71	+0.024%	$291K	$791K	20x
Lighter META	+0.0088%	1h	740.85	+0.043%	$859K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.52	−0.002%	$1.6M	$358K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.42	−0.015%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.69	+0.021%	$1K	$24	10x	as long as short
Hotstuff META-PERP	+0.0104%	1h	740.67	+0.019%	$33K	$105	20x	as long as short
Aevo META-PERP	+0.0104%	1h	740.49	−0.006%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0128%	1h	740.61	+0.011%	$68.5M	$120.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.50	−0.004%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0319%	4h	740.64	+0.015%	$62K	$330K	10x	as long as short