Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0071%/8h= −7.7% APRpaid last 24h −0.013%

Price spread now: Variational Omni against Aftermath Perps−0.030%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 Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.030% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$3 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	739.60	0.0071	pay 0.0009% / 1h	28m 08s	$48K	$80K	10x
Short	Variational Omni META	739.38	0	get 0.0000% / 8h	7h 28m	$2.3M	$3.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.030%Rate

Funding earned: −$14.82
Price spread: −0.030% → 0.000%: −$3
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$26.82
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Variational Omni: RFQ quote, 1 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 Variational Omni RFQ quote, 1 min ago	2.45 bp	doesn't fit	17.9 bp −$179	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 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	739.45	−0.021%	$329K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	739.69	+0.011%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.25	−0.047%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.44	−0.022%	$27.4M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.56	−0.006%	$7.6M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.49	−0.015%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.36	−0.033%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.34	−0.035%	$5.6M	$11.1M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	739.38	−0.030%	$2.3M	$3.3M	—
GRVT META_USDT_Perp	0.0000%	8h	739.41	−0.026%	$12K	$471K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	739.73	+0.017%	$884	$9.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.15	−0.061%	$30K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	739.22	−0.052%	$104K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	739.57	−0.004%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0003%	1h	739.23	−0.050%	$393K	$356K	20x	as long as short
Lighter RH META	+0.0032%	1h	739.63	+0.004%	$752K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	739.72	+0.016%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.42	−0.025%	$177K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.33	−0.037%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.42	−0.025%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	738.70	−0.122%	$691K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.46	−0.019%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	738.88	−0.098%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0066%	8h	739.37	−0.031%	—	—	5x	as long as short
Aftermath Perps METAUSDlong	+0.0071%	1h	739.60	long leg	$48K	$80K	10x
KuCoin METAUSDTM	+0.0100%	8h	739.58	−0.003%	$1.6M	$433K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	738.62	−0.133%	$165K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.48	−0.017%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.34	−0.036%	$266	—	10x	as long as short
Hotstuff META-PERP	+0.0144%	1h	739.45	−0.021%	$33K	$105	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	738.49	−0.150%	$604K	$7.3M	10x	as long as short
tradeXYZ xyz:META	+0.0175%	1h	739.48	−0.017%	$67.5M	$121.6M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.90	+0.175%	$171K	$48K	30x	as long as short
Lighter META	+0.0240%	1h	739.63	+0.004%	$851K	$2.5M	20x	as long as short
Phoenix META	+0.0259%	1h	739.35	−0.034%	$277K	$930K	20x	as long as short
edgeX METAUSDC	+0.0475%	4h	739.30	−0.040%	$62K	$335K	10x	as long as short