Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.010%

Price spread now: Bybit against SoDEX+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 SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. Bybit is 0.021% dearer against SoDEX than usual: you sell high and buy low (spread +0.021% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX META-USD	747.67	0.0050	pay 0.0006% / 1h	7m 38s	$25K	$3K	10x
Short	Bybit METAUSDT	747.83	0	get 0.0000% / 8h	3h 07m	$7.5M	$14.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$10.5
Price spread: +0.021% → 0.000%: $2.14
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.36
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Bybit: live order book, 1 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 SoDEX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	2.61 bp	9.4 bp −$9	19.5 bp −$195	doesn't fit	doesn't fit

SoDEX: 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
BloFin META-USDT	−0.0120%	8h	747.56	−0.015%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0002%	1h	746.59	−0.145%	$483K	$556K	20x	as long as short
Aster METAUSDT	0.0000%	8h	747.34	−0.043%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	747.64	−0.004%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.87	+0.027%	$28.5M	$182.5M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	747.83	+0.021%	$7.5M	$14.6M	100x
OKX META-USDT-SWAP	0.0000%	8h	747.79	+0.016%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	747.28	−0.052%	$427K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	748.56	+0.119%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.65	−0.003%	$12K	$448K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	747.48	−0.025%	$946	$8.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.73	−0.126%	$31K	$252K	10x	as long as short
HTX META-USDT	0.0000%	8h	748.24	+0.076%	$107K	$304K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.53	−0.019%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	748.00	+0.044%	$771K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	747.39	−0.037%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.54	−0.017%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	747.06	−0.082%	$588K	$565K	10x	as long as short
SoDEX META-USDlong	+0.0050%	1h	747.67	long leg	$25K	$3K	10x
Ondo Perps META-USD.P	+0.0050%	1h	747.09	−0.078%	$773K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	747.45	−0.029%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	747.63	−0.006%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	747.65	−0.002%	$52K	$82K	10x	as long as short
Bitget METAUSDT	+0.0088%	8h	747.82	+0.020%	$5.5M	$11.9M	100x	as long as short
Popdex METAUSDT	+0.0096%	1h	747.91	+0.032%	$180K	$199K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	747.76	+0.012%	$1.6M	$623K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.51	−0.155%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.43	−0.032%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	747.24	−0.058%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	747.28	−0.052%	$662K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	750.75	+0.412%	$173K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0248%	1h	748.02	+0.047%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	747.97	+0.040%	$903K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0338%	1h	748.02	+0.047%	$71.9M	$121.6M	20x	as long as short
Phoenix META	+0.0633%	1h	749.25	+0.211%	$800K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0974%	4h	747.99	+0.043%	$62K	$338K	10x	as long as short