Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.004%

Price spread now: Variational Omni against ApeX Omni+0.088%73s7-day average +0.035% · you sell dearer than you buy

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

Long on ApeX Omni Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.073%−$7 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now +0.088%, 7d avg +0.035%

Together, before fees−0.120%+ Points / potential airdropVariational Omni: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.053% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.088% now, against its 7-day average of +0.035%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 43 hours. 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	739.56	0.0100	pay 0.0013% / 1h	18m 21s	$166K	$71K	50x
Short	Variational Omni META	740.21	0	get 0.0000% / 8h	6h 18m	$2.3M	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.088%Rate

Funding earned: −$21
Price spread: +0.088% → +0.035%: $5.35
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$25.65
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 48 min ago; 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 ApeX Omni live order book, 48 min ago	2.63 bp	15.4 bp −$15	379.5 bp −$3,795	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	2.46 bp	doesn't fit	16.7 bp −$167	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0122%	1h	739.93	+0.049%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.59	+0.139%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.94	+0.052%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.11	+0.074%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.98	+0.057%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.19	+0.085%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.00	+0.059%	$352K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.28	+0.097%	$5.5M	$11.3M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	740.21	+0.088%	$2.3M	$3.1M	—
GRVT META_USDT_Perp	0.0000%	8h	740.46	+0.122%	$12K	$433K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	739.88	+0.043%	$752	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.57	+0.001%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	739.86	+0.041%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.79	+0.166%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.15	+0.080%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.43	+0.118%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.80	+0.032%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.38	+0.111%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.16	+0.081%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.94	+0.051%	$557K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.20	+0.087%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.51	−0.007%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	740.00	+0.060%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.89	+0.179%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.25	+0.093%	$1.6M	$485K	20x	as long as short
ApeX Omni METAUSDTlong	+0.0100%	1h	739.56	long leg	$166K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.10	+0.073%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.99	+0.059%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.149%	$609K	$7.2M	10x	as long as short
Lighter META	+0.0136%	1h	740.36	+0.108%	$860K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0136%	1h	740.16	+0.081%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.42	+0.387%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0246%	1h	740.27	+0.096%	$68.3M	$120.0M	20x	as long as short
Phoenix META	+0.0313%	1h	740.85	+0.174%	$429K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0939%	4h	740.24	+0.092%	$62K	$335K	10x	as long as short