Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0067%/8h= −7.3% APRnext payment −$0.67 per $10,000 · paid last 24h —

Price spread now: Bybit against Paradex−0.013%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex META-USD-PERP	745.62	0.0067	pay 0.0067% / 8h	2h 04m	—	—	5x
Short	Bybit METAUSDT	745.52	0	get 0.0000% / 8h	2h 04m	$7.3M	$15.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Paradex. 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 ParadexbpFee BybitbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$14.01
Price spread: −0.013% → 0.000%: −$1.34
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.35
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Bybit: live order book, 4 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	1.74 bp	10.3 bp −$10	20.1 bp −$201	doesn't fit	doesn't fit

Paradex: 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	−0.0139%	1h	745.45	−0.023%	$31K	$263K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	745.91	+0.039%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0003%	1h	745.51	−0.014%	$483K	$557K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.44	−0.024%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.43	−0.026%	$549K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.59	−0.005%	$27.7M	$182.7M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	745.52	−0.013%	$7.3M	$15.1M	100x
OKX META-USDT-SWAP	0.0000%	8h	745.88	+0.035%	$6.1M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.32	−0.040%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.75	+0.017%	$5.5M	$12.1M	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	746.12	+0.068%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.23	+0.081%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.72	+0.013%	$995	$8.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	745.60	−0.003%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.87	+0.034%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.04	+0.056%	$776K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.45	−0.023%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.17	+0.074%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.51	−0.015%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.66	+0.005%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.22	−0.054%	$586K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.78	+0.021%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.25	−0.050%	$752K	$4.9M	10x	as long as short
Paradex META-USD-PERPlong	+0.0067%	8h	745.62	long leg	—	—	5x
Aftermath Perps METAUSD	+0.0083%	1h	746.57	+0.128%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.48	−0.019%	$1.6M	$658K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.62	0.000%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.70	+0.011%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.69	+0.009%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.40	−0.030%	$656K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.323%	$172K	$46K	30x	as long as short
Lighter META	+0.0304%	1h	746.13	+0.068%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	746.18	+0.075%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0451%	1h	746.04	+0.056%	$76.2M	$125.8M	20x	as long as short
edgeX METAUSDC	+0.0674%	4h	745.96	+0.045%	$62K	$340K	10x	as long as short
Phoenix META	+0.0685%	1h	747.34	+0.231%	$798K	$1.4M	20x	as long as short