Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: SunX against ApeX Omni+0.052%73s7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$140as 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−$1191.190% of the position

Long on ApeX Omni Short on SunX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.105%+$11 · spread now +0.052%, 7d avg +0.062%

Together, before fees−0.105%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.062%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. 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	ApeX Omni METAUSDT	744.66	0.0100	pay 0.0013% / 1h	39m 53s	$167K	$72K	50x
Short	SunX META-USDT	745.05	0	get 0.0000% / 8h	1h 39m	$563	$8.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against ApeX 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 ApeX OmnibpFee SunXbpOrdersPrice spread, now +0.052%Rate

Funding earned: −$21
Price spread: +0.052% → +0.062%: −$0.93
Slippage, 4 orders: −$101.03
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$140.96
Costs to cover: 1.190%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 1 min ago; SunX: live order book, 9 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 ApeX Omni live order book, 1 min ago	2.62 bp	26.1 bp −$26	446.3 bp −$4,463	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	15.46 bp	44.5 bp −$44	doesn't fit	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	745.33	+0.090%	$334K	$1.1M	20x	as long as short
Nado META-PERP	−0.0020%	1h	744.87	+0.029%	$482K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.65	+0.132%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.94	+0.038%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.10	+0.059%	$25.2M	$187.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.90	+0.032%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.18	+0.070%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.69	+0.004%	$457K	$6.1M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.13	+0.063%	$5.5M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	745.20	+0.073%	$2.4M	$3.3M	—	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	745.43	+0.103%	$13K	$438K	10x	as long as short
SunX META-USDTshort	0.0000%	8h	745.05	+0.052%	$563	$8.2M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.77	+0.015%	$34K	$274K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.91	+0.034%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.27	+0.082%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.98	+0.043%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.45	+0.106%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.94	+0.038%	$109K	$333K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.59	+0.125%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.19	+0.071%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.87	+0.028%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.14	+0.064%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.94	+0.038%	$711K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	745.09	+0.058%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.39	+0.232%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.30	+0.086%	$1.6M	$675K	20x	as long as short
ApeX Omni METAUSDTlong	+0.0100%	1h	744.66	long leg	$167K	$72K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.25	+0.079%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.07	+0.055%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.43	+0.103%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.64	+0.534%	$173K	$46K	30x	as long as short
Lighter META	+0.0384%	1h	745.57	+0.122%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0400%	1h	745.60	+0.126%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0528%	1h	745.62	+0.129%	$77.1M	$127.2M	20x	as long as short
Phoenix META	+0.0739%	1h	746.48	+0.244%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0795%	4h	745.37	+0.095%	$62K	$345K	10x	as long as short