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 −0.007%

Price spread now: OKX against SoDEX−0.058%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on OKX

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.058% cheaper against SoDEX than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX META-USD	747.70	0.0050	pay 0.0006% / 1h	5m 39s	$25K	$3K	10x
Short	OKX META-USDT-SWAP	747.27	0	get 0.0000% / 8h	3h 05m	$6.0M	$13.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$10.5
Price spread: −0.058% → 0.000%: −$5.75
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$34.25
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	1.00 bp	11.6 bp −$12	21.9 bp −$219	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	748.02	+0.043%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0002%	1h	747.47	−0.030%	$483K	$556K	20x	as long as short
Aster METAUSDT	0.0000%	8h	747.22	−0.064%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	747.05	−0.087%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.38	−0.043%	$28.5M	$182.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.75	+0.007%	$7.5M	$14.6M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	747.27	−0.058%	$6.0M	$13.0M	20x
Gate META_USDT	0.0000%	8h	747.15	−0.074%	$428K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	747.58	−0.015%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.65	−0.007%	$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	747.80	+0.013%	$836	$8.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	747.35	−0.047%	$31K	$252K	10x	as long as short
HTX META-USDT	0.0000%	8h	747.58	−0.016%	$107K	$304K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	748.07	+0.049%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	747.70	0.000%	$770K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	747.32	−0.051%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.85	+0.020%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	747.65	−0.007%	$588K	$565K	10x	as long as short
SoDEX META-USDlong	+0.0050%	1h	747.70	long leg	$25K	$3K	10x
Ondo Perps META-USD.P	+0.0050%	1h	746.55	−0.154%	$770K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	747.32	−0.051%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	747.53	−0.022%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	748.11	+0.055%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	747.94	+0.032%	$180K	$200K	20x	as long as short
Bitget METAUSDT	+0.0098%	8h	747.25	−0.060%	$5.5M	$11.9M	100x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	747.68	−0.003%	$1.6M	$624K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	747.06	−0.086%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.73	+0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	747.66	−0.005%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	747.35	−0.047%	$667K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.19	−0.068%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	747.53	−0.023%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	747.71	+0.001%	$909K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0343%	1h	747.59	−0.015%	$72.0M	$121.8M	20x	as long as short
Phoenix META	+0.0633%	1h	749.25	+0.207%	$800K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0974%	4h	747.99	+0.039%	$62K	$338K	10x	as long as short