Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0079%/8h= −8.6% APRpaid last 24h −0.040%

Price spread now: OKX against Aftermath Perps−0.097%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.097% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps METAUSD	740.65	0.0079	pay 0.0010% / 1h	3m 03s	$53K	$86K	10x
Short	OKX META-USDT-SWAP	739.93	0	get 0.0000% / 8h	5h 03m	$6.0M	$13.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Aftermath Perps. 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 Aftermath PerpsbpFee OKXbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$16.51
Price spread: −0.097% → 0.000%: −$9.73
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$45.24
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; OKX: 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell OKX live order book, 3 min ago	0.74 bp	8.8 bp −$9	15.8 bp −$158	doesn't fit	doesn't fit

Aftermath Perps: 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 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	739.70	−0.128%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	739.87	−0.105%	$336K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.00	−0.088%	$492K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.63	−0.137%	$545K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.92	−0.098%	$25.3M	$190.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.69	−0.130%	$7.5M	$16.1M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	739.93	−0.097%	$6.0M	$13.0M	20x
Gate META_USDT	0.0000%	8h	739.70	−0.128%	$466K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.80	−0.115%	$5.7M	$12.0M	100x	as long as short
Variational Omni META	0.0000%	8h	739.78	−0.117%	$2.6M	$3.1M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	739.92	−0.099%	$12K	$427K	10x	as long as short
SunX META-USDT	0.0000%	8h	739.99	−0.089%	$661	$6.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.39	−0.170%	$36K	$207K	10x	as long as short
HTX META-USDT	0.0000%	8h	739.60	−0.142%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.08	−0.077%	$2.0M	$9K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.07	−0.078%	$856K	$2.9M	20x	as long as short
QFEX META-USD	+0.0038%	1h	739.75	−0.122%	$2.1M	$13.9M	10x	as long as short
Arcus META-USD	+0.0040%	1h	739.40	−0.169%	$111K	$291K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.04	−0.082%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.51	−0.154%	$557K	$594K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.79	−0.116%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.26	−0.188%	$753K	$5.1M	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	739.76	−0.120%	$645K	$7.2M	10x	as long as short
Paradex META-USD-PERP	+0.0068%	8h	739.66	−0.133%	—	—	5x	as long as short
Aftermath Perps METAUSDlong	+0.0079%	1h	740.65	long leg	$53K	$86K	10x
Pacifica META	+0.0100%	1h	739.30	−0.183%	$609	$3K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.00	−0.088%	$1.6M	$924K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.38	−0.172%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.78	−0.118%	$1K	$338	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.70	−0.128%	$266	—	10x	as long as short
Nado META-PERP	+0.0123%	1h	739.50	−0.155%	$474K	$535K	20x	as long as short
Popdex METAUSDT	+0.0144%	1h	739.89	−0.103%	$178K	$199K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.41	+0.103%	$167K	$61K	30x	as long as short
edgeX METAUSDC	+0.0290%	4h	739.81	−0.114%	$62K	$350K	10x	as long as short
tradeXYZ xyz:META	+0.0318%	1h	739.81	−0.113%	$86.9M	$136.0M	20x	as long as short
Lighter META	+0.0368%	1h	740.05	−0.081%	$1.2M	$2.7M	20x	as long as short
Phoenix META	+0.0613%	1h	740.46	−0.026%	$791K	$1.5M	20x	as long as short