Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.009%

Price spread now: Deribit against Variational Omni−0.015%7-day average −0.051% · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.002%$0 on $10k

Price spread, last 3 days (all we have)+0.111%+$11 · spread now −0.015%, 7d avg −0.051%

Together, before fees+0.108%+ Points / potential airdropVariational Omni: Active · farm board+$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.036% dearer against Variational Omni than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni META	742.16	0	get 0.0000% / 8h	1h 05m	$2.1M	$3.1M	—
Short	Deribit META_USDC-PERPETUAL	742.05	0	get 0.0000% / 1h	5m 01s	$30K	$257K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. 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 Variational OmnibpFee DeribitbpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → −0.051%: $3.56
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$3.44
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Deribit: live order book, 14 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 Variational Omni RFQ quote, 4 min ago	2.60 bp	doesn't fit	19.1 bp −$191	doesn't fit	doesn't fit
Sell Deribit live order book, 14 min ago	0.07 bp	11.4 bp −$11	14.5 bp −$145	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	742.42	+0.034%	$281K	$1.1M	20x	as long as short
Nado META-PERP	−0.0050%	1h	741.94	−0.030%	$392K	$328K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.82	−0.046%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.26	+0.013%	$549K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.42	+0.034%	$27.2M	$179.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.21	+0.006%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.53	+0.049%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.78	−0.052%	$350K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.30	+0.018%	$5.8M	$11.1M	100x	as long as short
Variational Omni METAlong	0.0000%	8h	742.16	long leg	$2.1M	$3.1M	—

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	742.18	+0.002%	$12K	$499K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.19	+0.003%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUALshort	0.0000%	1h	742.05	−0.015%	$30K	$257K	10x
HTX META-USDT	0.0000%	8h	742.18	+0.002%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.38	+0.029%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	742.15	−0.002%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	742.50	+0.045%	$760K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.85	−0.042%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.39	+0.030%	—	$9K	25x	as long as short
Hotstuff META-PERP	+0.0048%	1h	742.27	+0.014%	$33K	$105	20x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.39	+0.030%	$178K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.27	+0.014%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.33	+0.022%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.83	−0.045%	$721K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0052%	8h	742.12	−0.006%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0059%	1h	742.69	+0.071%	$53K	$69K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	742.12	−0.006%	$606K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	742.21	+0.006%	$291K	$791K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.17	+0.001%	$1.6M	$370K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.61	−0.075%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.31	+0.020%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.21	+0.007%	$267	—	10x	as long as short
Lighter META	+0.0120%	1h	742.58	+0.056%	$864K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0140%	1h	742.33	+0.022%	$67.4M	$122.0M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.78	−0.052%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0724%	4h	742.23	+0.009%	$62K	$331K	10x	as long as short