Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.016%

Price spread now: Ondo Perps against Binance−0.115%56s7-day average −0.091% · you buy dearer than you sell

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

Long on Binance Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.163%+$16 on $10k

Price spread, last 7 days−0.002%$0 · spread now −0.115%, 7d avg −0.091%

Together, before fees+0.162%+ Points / potential airdropOndo Perps: Active · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.024% cheaper against Binance than usual: you would sell low and buy high (spread −0.115% now, against its 7-day average of −0.091%). If the spread goes back, that is −$2 on $10k: about 38 hours of funding at the current rate (+$2 a day). The two prices were read 56 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	746.25	0	get 0.0000% / 8h	3h 17m	$28.5M	$182.5M	20x
Short	Ondo Perps META-USD.P	745.39	0.0050	get 0.0006% / 1h	17m 45s	$787K	$4.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.115%Rate

Funding earned: $10.58
Price spread: −0.115% → −0.091%: −$2.37
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$6.79
Costs to cover: 0.150%
Break-even: 11.5 days

Slippage unknown: Binance: live order book, 11 min ago; Ondo Perps: no order-book sample. 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 Binance live order book, 11 min ago	0.07 bp	5.4 bp −$5	14.4 bp −$144	52.1 bp −$5,211	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo 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	746.13	−0.016%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0002%	1h	745.84	−0.055%	$482K	$554K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.26	+0.001%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.04	−0.027%	$554K	$2.7M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	746.25	long leg	$28.5M	$182.5M	20x
Bybit METAUSDT	0.0000%	8h	746.20	−0.007%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.31	+0.008%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.54	−0.095%	$379K	$5.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.33	+0.011%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.41	+0.022%	$12K	$452K	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	746.12	−0.017%	$726	$8.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.84	−0.055%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.97	−0.037%	$106K	$303K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.50	+0.034%	$2.0M	$8K	10x	as long as short
Bitget METAUSDT	+0.0021%	8h	746.25	0.000%	$5.5M	$11.8M	100x	as long as short
Lighter RH META	+0.0032%	1h	746.55	+0.040%	$783K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.80	−0.060%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.45	+0.027%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.83	−0.056%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.19	−0.008%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.Pshort	+0.0050%	1h	745.39	−0.115%	$787K	$4.6M	10x
QFEX META-USD	+0.0058%	1h	746.19	−0.008%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	746.06	−0.026%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.66	+0.056%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.47	+0.030%	$1.6M	$618K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.55	−0.094%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.22	−0.004%	$1K	$24	10x	as long as short
Popdex METAUSDT	+0.0104%	1h	746.24	−0.001%	$180K	$200K	20x	as long as short
Aevo META-PERP	+0.0104%	1h	746.13	−0.017%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.72	−0.071%	$638K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.48	+0.299%	$173K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	746.21	−0.005%	$33K	$105	20x	as long as short
Lighter META	+0.0272%	1h	746.52	+0.036%	$867K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0313%	1h	746.35	+0.013%	$70.8M	$121.2M	20x	as long as short
edgeX METAUSDC	+0.0407%	4h	746.35	+0.013%	$62K	$338K	10x	as long as short
Phoenix META	+0.0633%	1h	747.26	+0.135%	$798K	$1.4M	20x	as long as short