Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0348%/8h= +38.1% APRpaid last 24h +0.027%

Price spread now: tradeXYZ against Variational Omni−0.019%7-day average −0.037% · you buy dearer than you sell

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

Long on Variational Omni Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.070%+$7 on $10k

Price spread, last 7 days−0.003%$0 · spread now −0.019%, 7d avg −0.037%

Together, before fees+0.067%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.037%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.070% in total (about 7.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni META	742.17	0	get 0.0000% / 8h	5h 25m	$2.4M	$3.1M	—
Short	tradeXYZ xyz:META	742.03	0.0348	get 0.0044% / 1h	25m 13s	$69.2M	$120.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.019%Rate

Funding earned: $73.16
Price spread: −0.019% → −0.037%: $1.8
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $56.96
Costs to cover: 0.180%
Break-even: 1.5 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; tradeXYZ: live order book, 3 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, 4 min ago	2.60 bp	doesn't fit	15.1 bp −$151	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 3 min ago	0.07 bp	9.1 bp −$9	12.0 bp −$120	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	742.08	−0.013%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0023%	1h	741.76	−0.055%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.77	−0.054%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.87	−0.041%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.06	−0.015%	$27.4M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.85	−0.044%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.12	−0.007%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.64	−0.072%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.89	−0.038%	$5.5M	$11.5M	100x	as long as short
Variational Omni METAlong	0.0000%	8h	742.17	long leg	$2.4M	$3.1M	—

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	742.19	+0.003%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.06	−0.015%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.74	−0.058%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.47	+0.040%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.11	−0.008%	$764K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.82	−0.048%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.70	−0.064%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.18	+0.001%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.01	−0.022%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.69	−0.065%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.96	−0.029%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.36	−0.110%	$721K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	741.80	−0.051%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.79	+0.084%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.78	−0.053%	$618K	$7.2M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.08	−0.013%	$1.6M	$519K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.39	−0.105%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.04	−0.018%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.84	−0.044%	$267	—	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0155%	1h	741.59	−0.079%	$31K	$245K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.80	+0.354%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	742.39	+0.029%	$33K	$105	20x	as long as short
Lighter META	+0.0264%	1h	742.09	−0.011%	$861K	$2.4M	20x	as long as short
tradeXYZ xyz:METAshort	+0.0348%	1h	742.03	−0.019%	$69.2M	$120.2M	20x
edgeX METAUSDC	+0.0462%	4h	742.01	−0.022%	$62K	$335K	10x	as long as short
Phoenix META	+0.0496%	1h	743.31	+0.153%	$548K	$1.1M	20x	as long as short