Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.028%

Price spread now: Phemex against Variational Omni+0.010%7-day average +0.037% · you sell dearer than you buy

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.028%−$3 on $10k

Price spread, last 3 days (all we have)+0.140%+$14 · spread now +0.010%, 7d avg +0.037%

Together, before fees+0.111%+ 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: Phemex is 0.027% cheaper against Variational Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni META	740.45	0	get 0.0000% / 8h	1h 44m	$1.6M	$2.6M	—
Short	Phemex METAUSDT	740.52	0	get 0.0000% / 4h	1h 44m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → +0.037%: −$2.74
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$14.74
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Phemex: live order book, 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 Variational Omni RFQ quote, 5 min ago	2.61 bp	doesn't fit	21.9 bp −$219	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.28 bp	49.3 bp −$49	doesn't fit	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	740.53	+0.011%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0078%	1h	740.30	−0.020%	$395K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.16	+0.096%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.33	−0.017%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.30	−0.020%	$26.9M	$177.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.14	−0.042%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.33	−0.016%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.87	−0.078%	$321K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.28	−0.023%	$5.8M	$11.0M	100x	as long as short
Variational Omni METAlong	0.0000%	8h	740.45	long leg	$1.6M	$2.6M	—

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	740.53	+0.011%	$12K	$516K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.75	+0.041%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.39	−0.008%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.35	−0.013%	$105K	$283K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	740.52	+0.010%	$2.0M	$8K	10x
QFEX META-USD	+0.0003%	1h	740.27	−0.024%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.75	+0.041%	$743K	$3.2M	20x	as long as short
Hotstuff META-PERP	+0.0032%	1h	740.65	+0.027%	$33K	$105	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.97	−0.065%	$263K	$316K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.80	+0.047%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.41	−0.005%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.39	−0.008%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.48	+0.004%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.25	−0.027%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.34	−0.015%	$666K	$4.0M	10x	as long as short
Aftermath Perps METAUSD	+0.0055%	1h	740.97	+0.071%	$48K	$62K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.90	+0.061%	$608K	$7.3M	10x	as long as short
Phoenix META	+0.0065%	1h	740.46	+0.001%	$291K	$791K	20x	as long as short
Lighter META	+0.0088%	1h	740.74	+0.039%	$859K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.17	−0.038%	$1.6M	$359K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.23	−0.030%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.55	+0.014%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.42	−0.004%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0130%	1h	740.44	−0.001%	$68.4M	$120.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.38	−0.009%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0344%	4h	740.53	+0.010%	$62K	$331K	10x	as long as short