Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.043%

Price spread now: Orderly against Extended+0.021%7-day average — · you sell dearer than you buy

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

Long on Extended Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropExtended: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Orderly is 0.021% dearer against Extended than usual: you sell high and buy low: +$2 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended META_24_5-USD	744.60	0	get 0.0000% / 1h	14m 33s	$548K	$1.8M	17x
Short	Orderly PERP_META_USDC_mythos	744.76	0.0100	get 0.0100% / 8h	1h 14m	$1K	$24	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Extended. 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 ExtendedbpFee OrderlybpOrdersPrice spread, now +0.021%Rate

Funding earned: $21
Price spread: +0.021% → 0.000%: $2.1
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: $12.1
Costs to cover: 0.110%
Break-even: 3.0 days

Slippage unknown: Extended: live order book, 4 min ago; Orderly: 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 Extended live order book, 4 min ago	0.47 bp	5.7 bp −$6	29.0 bp −$290	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 37 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	744.93	+0.044%	$332K	$1.1M	20x	as long as short
Nado META-PERP	−0.0040%	1h	744.58	−0.004%	$480K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.20	+0.081%	$479K	$593K	20x	as long as short
Extended META_24_5-USDlong	0.0000%	1h	744.60	long leg	$548K	$1.8M	17x
Binance METAUSDT	0.0000%	8h	744.81	+0.028%	$24.9M	$188.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.70	+0.013%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.01	+0.055%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.40	−0.027%	$463K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.97	+0.049%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.70	+0.014%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.86	+0.034%	$13K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.70	+0.013%	$961	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.37	−0.031%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.90	+0.040%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.93	+0.044%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.58	−0.003%	$2.2M	$13.8M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.22	+0.083%	$855K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.66	+0.008%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.18	+0.077%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.81	+0.028%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.45	−0.021%	$578K	$572K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.83	+0.030%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.35	−0.034%	$685K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	744.70	+0.013%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.89	+0.173%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.90	+0.040%	$1.6M	$689K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.42	−0.025%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythosshort	+0.0100%	8h	744.76	+0.021%	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	744.59	−0.002%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.73	+0.017%	$650K	$7.9M	10x	as long as short
edgeX METAUSDC	+0.0133%	4h	744.79	+0.025%	$62K	$345K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.34	+0.367%	$172K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	745.38	+0.104%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0368%	1h	745.29	+0.092%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0488%	1h	745.29	+0.092%	$78.1M	$127.8M	20x	as long as short
Phoenix META	+0.0739%	1h	746.42	+0.244%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	744.96	+0.048%	$16	$103	10x	as long as short