Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0036%/8h= −4.0% APRpaid last 24h +0.014%

Price spread now: Variational Omni against QFEX−0.004%7-day average +0.023% · you buy dearer than you sell

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

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.010%+$1 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.004%, 7d avg +0.023%

Together, before fees+0.020%+ Points / potential airdropVariational Omni: Active · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.027% cheaper against QFEX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX META-USD	742.51	0.0036	pay 0.0005% / 1h	40m 02s	$2.1M	$13.7M	10x
Short	Variational Omni META	742.48	0	get 0.0000% / 8h	4h 40m	$2.4M	$3.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against QFEX. 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 QFEXbpFee Variational OmnibpOrdersPrice spread, now −0.004%Rate

Funding earned: −$7.59
Price spread: −0.004% → +0.023%: −$2.73
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$20.33
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 9 min ago; Variational Omni: RFQ quote, 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 QFEX live order book, 9 min ago	2.15 bp	7.2 bp −$7	9.3 bp −$93	18.2 bp −$1,820	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.46 bp	doesn't fit	15.1 bp −$151	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	742.47	−0.005%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0043%	1h	742.05	−0.062%	$480K	$553K	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0006%	1h	741.80	−0.096%	$31K	$245K	10x	as long as short
Aster METAUSDT	0.0000%	8h	742.37	−0.019%	$466K	$551K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.06	−0.061%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.25	−0.035%	$27.5M	$180.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.12	−0.053%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.56	+0.007%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.05	−0.062%	$364K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.37	−0.019%	$5.4M	$11.7M	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 METAshort	0.0000%	8h	742.48	−0.004%	$2.4M	$3.1M	—
GRVT META_USDT_Perp	0.0000%	8h	742.33	−0.024%	$12K	$436K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.67	+0.022%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.26	−0.034%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.35	−0.022%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.51	0.000%	$766K	$3.0M	20x	as long as short
QFEX META-USDlong	+0.0036%	1h	742.51	long leg	$2.1M	$13.7M	10x
Arcus META-USD	+0.0040%	1h	742.09	−0.057%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.58	+0.009%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.53	+0.003%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.27	−0.032%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.43	−0.011%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.81	−0.094%	$710K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0061%	8h	742.32	−0.025%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	743.15	+0.086%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.47	−0.005%	$1.6M	$537K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.34	−0.158%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.42	−0.012%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.36	−0.021%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	742.02	−0.066%	$614K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0136%	1h	742.50	−0.001%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.47	+0.264%	$172K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	742.47	−0.005%	$858K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0265%	1h	742.39	−0.016%	$69.4M	$120.4M	20x	as long as short
edgeX METAUSDC	+0.0317%	4h	742.38	−0.018%	$62K	$335K	10x	as long as short
Phoenix META	+0.0591%	1h	743.35	+0.113%	$643K	$1.2M	20x	as long as short