Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Ondo Perps against SunX−0.058%7-day average −0.102% · you buy dearer than you sell

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

Long on SunX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.119%+$12 on $10k

Price spread, last 4 days (all we have)−0.112%−$11 · spread now −0.058%, 7d avg −0.102%

Together, before fees+0.007%+ Points / potential airdropOndo Perps: Active · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.044% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.102%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	747.00	0	get 0.0000% / 8h	3m 46s	$929	$8.0M	20x
Short	Ondo Perps META-USD.P	746.57	0.0050	get 0.0006% / 1h	3m 46s	$734K	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against SunX. 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 SunXbpFee Ondo PerpsbpOrdersPrice spread, now −0.058%Rate

Funding earned: $10.58
Price spread: −0.058% → −0.102%: $4.43
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $2.01
Costs to cover: 0.130%
Break-even: 5.7 days

Slippage unknown: SunX: live order book, 5 min ago; Ondo Perps: 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 SunX live order book, 5 min ago	500.00 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 37 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	746.67	−0.044%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.58	−0.056%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.86	−0.019%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.05	+0.007%	$25.4M	$189.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.07	+0.009%	$7.6M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.19	+0.025%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.59	−0.055%	$473K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	747.02	+0.003%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	746.51	−0.065%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.79	−0.028%	$12K	$439K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDTlong	0.0000%	8h	747.00	long leg	$929	$8.0M	20x
HTX META-USDT	0.0000%	8h	746.93	−0.009%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.33	+0.044%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0015%	1h	746.22	−0.104%	$481K	$560K	20x	as long as short
QFEX META-USD	+0.0031%	1h	746.77	−0.031%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0040%	1h	747.02	+0.003%	$797K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.51	−0.066%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.26	+0.035%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.66	−0.046%	$568K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.74	−0.035%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.Pshort	+0.0050%	1h	746.57	−0.058%	$734K	$5.1M	10x
Paradex META-USD-PERP	+0.0056%	8h	746.49	−0.069%	—	—	5x	as long as short
Deribit META_USDC-PERPETUAL	+0.0072%	1h	746.52	−0.064%	$34K	$276K	10x	as long as short
Popdex METAUSDT	+0.0072%	1h	747.04	+0.005%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.73	+0.098%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	747.06	+0.008%	$634	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.96	−0.005%	$1.6M	$730K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.01	−0.133%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.77	−0.031%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.56	−0.060%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.42	−0.078%	$643K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.54	+0.340%	$177K	$51K	30x	as long as short
Lighter META	+0.0456%	1h	747.17	+0.023%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	747.20	+0.027%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0471%	4h	746.62	−0.051%	$62K	$345K	10x	as long as short
tradeXYZ xyz:META	+0.0564%	1h	747.36	+0.048%	$83.7M	$131.8M	20x	as long as short
Phoenix META	+0.0750%	1h	747.82	+0.110%	$798K	$1.5M	20x	as long as short