Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aevo against Orderly−0.025%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Aevo

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—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aevo is 0.025% cheaper against Orderly than usual: you would sell low and buy high, −$2 on $10k if it 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	Orderly PERP_META_USDC_mythos	740.46	0.0100	pay 0.0100% / 8h	7h 01m	$1K	$24	10x
Short	Aevo META-PERP	740.28	0.0104	get 0.0013% / 1h	1m 14s	$266	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Orderly. 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 OrderlybpFee AevobpOrdersPrice spread, now −0.025%Rate

Funding earned: $0.84
Price spread: −0.025% → 0.000%: −$2.47
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$23.63
Costs to cover: 0.220%
Break-even: 204.0 days

Slippage unknown: Orderly: no order-book sample; Aevo: 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 Orderly no order-book sample	—	—	—	—	—
Sell Aevo no order-book sample	—	—	—	—	—

Orderly and Aevo: 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
Deribit META_USDC-PERPETUAL	−0.0128%	1h	739.97	−0.066%	$30K	$246K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	740.39	−0.009%	$326K	$1.1M	20x	as long as short
Nado META-PERP	−0.0102%	1h	740.32	−0.019%	$490K	$524K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.41	−0.007%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.21	−0.034%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.40	−0.009%	$27.4M	$180.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.46	0.000%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.17	−0.039%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.25	−0.028%	$351K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.39	−0.009%	$5.6M	$11.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.22	−0.033%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.87	+0.056%	$13K	$453K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.67	+0.028%	$821	$9.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.19	−0.036%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.72	+0.035%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.62	+0.022%	$753K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.82	+0.049%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.38	−0.011%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.19	−0.036%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.35	−0.015%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.97	−0.066%	$693K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.20	−0.035%	$2.2M	$14.1M	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	740.30	−0.022%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	740.10	−0.049%	$110K	$331K	10x	as long as short
Aftermath Perps METAUSD	+0.0068%	1h	741.00	+0.073%	$48K	$80K	10x	as long as short
Hotstuff META-PERP	+0.0088%	1h	740.49	+0.004%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.70	+0.032%	$1.6M	$455K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.26	−0.027%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythoslong	+0.0100%	8h	740.46	long leg	$1K	$24	10x
Aevo META-PERPshort	+0.0104%	1h	740.28	−0.025%	$266	—	10x
Coinbase International META-PERP-INTX	+0.0144%	1h	740.19	−0.036%	$610K	$7.4M	10x	as long as short
tradeXYZ xyz:META	+0.0164%	1h	740.48	+0.003%	$67.9M	$121.1M	20x	as long as short
Lighter META	+0.0192%	1h	740.59	+0.018%	$857K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.82	+0.319%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	741.55	+0.147%	$339K	$930K	20x	as long as short
edgeX METAUSDC	+0.0352%	4h	740.50	+0.006%	$62K	$336K	10x	as long as short