Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0346%/8h= +37.9% APRpaid last 24h +0.029%

Price spread now: tradeXYZ against Variational Omni+0.003%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 tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.078%+$8 on $10k

Price spread, last 7 days−0.023%−$2 · spread now +0.003%, 7d avg −0.037%

Together, before fees+0.055%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and tradeXYZ is 0.040% dearer against Variational Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.037%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.078% in total (about 8.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni META	747.58	0	get 0.0000% / 8h	3h 04m	$2.4M	$3.2M	—
Short	tradeXYZ xyz:META	747.61	0.0346	get 0.0043% / 1h	4m 47s	$72.0M	$121.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.003%Rate

Funding earned: $72.76
Price spread: +0.003% → −0.037%: $4.04
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $58.8
Costs to cover: 0.180%
Break-even: 1.3 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; tradeXYZ: 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, 4 min ago	2.45 bp	doesn't fit	25.7 bp −$257	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 4 min ago	0.60 bp	10.1 bp −$10	12.3 bp −$123	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	747.32	−0.035%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0003%	1h	747.33	−0.034%	$483K	$556K	20x	as long as short
Aster METAUSDT	0.0000%	8h	747.17	−0.056%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	747.28	−0.041%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.45	−0.018%	$28.5M	$182.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.36	−0.030%	$7.5M	$14.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.47	−0.015%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	747.06	−0.070%	$421K	$5.9M	100x	as long as short
Variational Omni METAlong	0.0000%	8h	747.58	long leg	$2.4M	$3.2M	—
GRVT META_USDT_Perp	0.0000%	8h	748.03	+0.060%	$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	747.12	−0.062%	$965	$8.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.57	−0.136%	$31K	$252K	10x	as long as short
HTX META-USDT	0.0000%	8h	747.06	−0.070%	$106K	$304K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.93	+0.046%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	747.50	−0.011%	$770K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	747.32	−0.035%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.61	+0.003%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.80	−0.105%	$588K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	747.19	−0.053%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.55	−0.138%	$770K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	747.32	−0.035%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	747.53	−0.007%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	748.11	+0.070%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	747.28	−0.041%	$180K	$199K	20x	as long as short
Bitget METAUSDT	+0.0098%	8h	747.42	−0.022%	$5.5M	$11.9M	100x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	747.55	−0.005%	$1.6M	$625K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	747.07	−0.069%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.03	−0.074%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.94	−0.086%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	747.35	−0.031%	$667K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.19	−0.053%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	747.53	−0.007%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	747.49	−0.013%	$916K	$2.5M	20x	as long as short
tradeXYZ xyz:METAshort	+0.0346%	1h	747.61	+0.003%	$72.0M	$121.8M	20x
Phoenix META	+0.0633%	1h	749.25	+0.223%	$800K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0974%	4h	747.99	+0.055%	$62K	$338K	10x	as long as short