Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h +0.009%

Price spread now: Popdex against Variational Omni+0.008%46s7-day average +0.017% · you sell dearer than you buy

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

Long on Variational Omni Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.044%+$4 on $10k

Price spread, last 4 days (all we have)+0.282%+$28 · spread now +0.008%, 7d avg +0.017%

Together, before fees+0.326%+ Points / potential airdropVariational Omni: Active · farm board+$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

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	Popdex METAUSDT	740.51	0.0048	get 0.0006% / 1h	44m 48s	$178K	$201K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.008%Rate

Funding earned: $10.08
Price spread: +0.008% → +0.017%: −$0.86
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $2.82
Costs to cover: 0.064%
Break-even: 5.0 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Popdex: live order book, 39 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	2.61 bp	doesn't fit	21.9 bp −$219	doesn't fit	doesn't fit
Sell Popdex live order book, 39 min ago	0.20 bp	3.8 bp −$4	6.0 bp −$60	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	−0.0077%	1h	740.37	−0.011%	$396K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.23	+0.106%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.36	−0.012%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.48	+0.005%	$26.9M	$177.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.38	−0.009%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.35	−0.013%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.90	−0.074%	$321K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.37	−0.011%	$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 METAUSDT	0.0000%	4h	740.52	+0.010%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.37	−0.011%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.82	+0.050%	$744K	$3.2M	20x	as long as short
Hotstuff META-PERP	+0.0032%	1h	740.63	+0.024%	$33K	$105	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.15	−0.040%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.89	+0.059%	—	$9K	25x	as long as short
Popdex METAUSDTshort	+0.0048%	1h	740.51	+0.008%	$178K	$201K	20x
Polymarket Perps META-USD	+0.0050%	1h	740.57	+0.016%	$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	740.30	−0.021%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.02	−0.058%	$666K	$4.0M	10x	as long as short
Aftermath Perps METAUSD	+0.0055%	1h	741.36	+0.122%	$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	740.81	+0.049%	$859K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.43	−0.003%	$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	+0.0128%	1h	740.58	+0.018%	$68.5M	$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