Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.005%

Price spread now: ApeX Omni against Bybit−0.070%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$830.825% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.185%+$18 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now −0.070%, 7d avg −0.042%

Together, before fees+0.144%+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.028% cheaper against Bybit than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of −0.042%). If the spread goes back, that is −$3 on $10k: about 22 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit METAUSDT	742.24	0	get 0.0000% / 8h	4h 37m	$7.5M	$13.9M	100x
Short	ApeX Omni METAUSDT	741.72	0.0100	get 0.0013% / 1h	37m 11s	$166K	$71K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now −0.070%Rate

Funding earned: $21
Price spread: −0.070% → −0.042%: −$2.79
Slippage, 4 orders: −$61.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$64.3
Costs to cover: 0.825%
Break-even: 28.4 days

Slippage from Bybit: live order book, 1 min ago; ApeX Omni: live order book, 19 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 Bybit live order book, 1 min ago	1.75 bp	10.2 bp −$10	19.8 bp −$198	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 19 min ago	2.63 bp	25.2 bp −$25	547.3 bp −$5,473	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	742.41	+0.023%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0037%	1h	741.88	−0.049%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.34	+0.013%	$466K	$551K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.19	−0.006%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.42	+0.024%	$27.5M	$180.5M	20x	as long as short
Bybit METAUSDTlong	0.0000%	8h	742.24	long leg	$7.5M	$13.9M	100x
OKX META-USDT-SWAP	0.0000%	8h	742.29	+0.007%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.02	−0.030%	$364K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.34	+0.013%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.48	+0.032%	$2.4M	$3.1M	—	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	742.51	+0.036%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.52	+0.038%	$984	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.77	−0.063%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.25	+0.001%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.35	+0.015%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.50	+0.035%	$768K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.37	+0.018%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.02	−0.030%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.50	+0.035%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.35	+0.015%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.12	−0.016%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.35	+0.015%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.69	−0.074%	$710K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	742.16	−0.010%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	743.15	+0.123%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.49	+0.034%	$1.6M	$540K	20x	as long as short
ApeX Omni METAUSDTshort	+0.0100%	1h	741.72	−0.070%	$166K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.38	+0.019%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.25	+0.001%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	742.02	−0.030%	$614K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0144%	1h	742.35	+0.015%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.47	+0.300%	$172K	$48K	30x	as long as short
Lighter META	+0.0240%	1h	742.47	+0.031%	$858K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0275%	1h	742.40	+0.022%	$69.4M	$120.3M	20x	as long as short
edgeX METAUSDC	+0.0506%	4h	742.22	−0.002%	$62K	$336K	10x	as long as short
Phoenix META	+0.0591%	1h	743.35	+0.150%	$652K	$1.2M	20x	as long as short