Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.001%

Price spread now: ApeX Omni against Binance−0.219%79s7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as 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−$590.593% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.255%+$25 on $10k

Price spread, last 4 days (all we have)+0.261%+$26 · spread now −0.219%, 7d avg −0.046%

Together, before fees+0.515%+$52 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.172% cheaper against Binance than usual: you would sell low and buy high (spread −0.219% now, against its 7-day average of −0.046%). If the spread goes back, that is −$17 on $10k: about 5.7 days of funding at the current rate (+$3 a day). The two prices were read 79 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	Binance METAUSDT	744.02	0	get 0.0000% / 8h	2h 26m	$27.7M	$182.6M	20x
Short	ApeX Omni METAUSDT	742.39	0.0100	get 0.0013% / 1h	26m 04s	$166K	$72K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.219%Rate

Funding earned: $21
Price spread: −0.219% → −0.046%: −$17.23
Slippage, 4 orders: −$39.33
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$55.56
Costs to cover: 0.593%
Break-even: 25.5 days

Slippage from Binance: live order book, 2 min ago; ApeX Omni: live order book, 20 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 Binance live order book, 2 min ago	0.07 bp	6.3 bp −$6	13.5 bp −$135	54.7 bp −$5,472	doesn't fit
Sell ApeX Omni live order book, 20 min ago	2.62 bp	33.3 bp −$33	496.6 bp −$4,966	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	743.43	−0.079%	$331K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.65	+0.085%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.79	−0.030%	$544K	$2.7M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	744.02	long leg	$27.7M	$182.6M	20x
Bybit METAUSDT	0.0000%	8h	743.95	−0.009%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.91	−0.014%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.35	−0.090%	$440K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.15	+0.018%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	743.94	−0.010%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.10	−0.123%	$12K	$442K	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	744.19	+0.023%	$528	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.56	−0.061%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.69	−0.044%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.44	−0.078%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0024%	1h	743.68	−0.046%	$481K	$558K	20x	as long as short
Lighter RH META	+0.0032%	1h	744.23	+0.029%	$769K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	742.86	−0.156%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.24	+0.030%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.69	−0.044%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.99	−0.004%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.74	−0.037%	$585K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.86	−0.021%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.14	−0.118%	$736K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0076%	8h	743.82	−0.027%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	743.69	−0.043%	$51K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.73	−0.039%	$1.6M	$643K	20x	as long as short
ApeX Omni METAUSDTshort	+0.0100%	1h	742.39	−0.219%	$166K	$72K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.93	−0.012%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.82	−0.027%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.48	−0.072%	$658K	$7.7M	10x	as long as short
edgeX METAUSDC	+0.0135%	4h	743.17	−0.114%	$62K	$341K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.90	+0.253%	$172K	$46K	30x	as long as short
Lighter META	+0.0320%	1h	744.31	+0.039%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	744.00	−0.002%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0441%	1h	744.42	+0.054%	$74.7M	$124.9M	20x	as long as short
Phoenix META	+0.0685%	1h	744.15	+0.018%	$795K	$1.4M	20x	as long as short