Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h +0.012%

Price spread now: Bybit against Vest−0.087%7-day average — · you buy dearer than you sell

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

Long on Vest Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.087% cheaper against Vest than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest META-USD-PERP	743.29	0.0046	pay 0.0006% / 1h	38m 22s	—	$11K	25x
Short	Bybit METAUSDT	742.64	0	get 0.0000% / 8h	38m 22s	$7.5M	$14.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Vest. 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 VestbpFee BybitbpOrdersPrice spread, now −0.087%Rate

Funding earned: −$9.59
Price spread: −0.087% → 0.000%: −$8.74
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$31.34
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Bybit: live order book, 5 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 Vest no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	1.75 bp	10.5 bp −$11	20.1 bp −$201	doesn't fit	doesn't fit

Vest: 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 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	743.43	+0.019%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0073%	1h	742.94	−0.047%	$391K	$329K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.33	+0.005%	$459K	$537K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.75	−0.072%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.87	−0.056%	$27.4M	$179.6M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	742.64	−0.087%	$7.5M	$14.0M	100x
OKX META-USDT-SWAP	0.0000%	8h	742.91	−0.051%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.47	−0.110%	$346K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.76	−0.071%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	743.32	+0.004%	$2.3M	$3.2M	—	as long as short

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	743.64	+0.047%	$12K	$486K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.79	−0.067%	$1K	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.30	+0.001%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.51	+0.030%	$2.0M	$7K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0006%	1h	742.49	−0.108%	$30K	$257K	10x	as long as short
QFEX META-USD	+0.0027%	1h	742.69	−0.081%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	743.08	−0.028%	$756K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	742.35	−0.126%	$110K	$472K	10x	as long as short
Vest META-USD-PERPlong	+0.0046%	1h	743.29	long leg	—	$11K	25x
Popdex METAUSDT	+0.0048%	1h	742.90	−0.052%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.79	−0.067%	$543K	$841K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.84	−0.061%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.28	−0.136%	$769K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	742.75	−0.073%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0062%	1h	743.70	+0.055%	$49K	$75K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	743.28	−0.001%	$610K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.79	−0.067%	$1.6M	$380K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.98	−0.042%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.87	−0.057%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.86	−0.058%	$267	—	10x	as long as short
Lighter META	+0.0128%	1h	742.95	−0.046%	$859K	$2.6M	20x	as long as short
Phoenix META	+0.0129%	1h	743.86	+0.077%	$293K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0144%	1h	742.88	−0.055%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.83	+0.342%	$170K	$46K	30x	as long as short
tradeXYZ xyz:META	+0.0229%	1h	742.82	−0.063%	$67.6M	$122.3M	20x	as long as short
edgeX METAUSDC	+0.0710%	4h	743.35	+0.008%	$62K	$331K	10x	as long as short