Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.089%

Price spread now: Binance against Aftermath Perps−0.041%7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on Binance

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—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 0.041% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$4 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	Aftermath Perps METAUSD	740.79	0.0054	pay 0.0007% / 1h	30m 56s	$42K	$58K	10x
Short	Binance METAUSDT	740.48	0	get 0.0000% / 8h	2h 30m	$26.8M	$177.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Aftermath Perps. 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 Aftermath PerpsbpFee BinancebpOrdersPrice spread, now −0.041%Rate

Funding earned: −$11.29
Price spread: −0.041% → 0.000%: −$4.14
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$34.43
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Binance: live order book, 12 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	0.07 bp	6.1 bp −$6	10.7 bp −$107	34.1 bp −$3,408	doesn't fit

Aftermath Perps: 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
Nado META-PERP	−0.0129%	1h	740.47	−0.043%	$399K	$316K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.47	−0.043%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.94	+0.021%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.43	−0.049%	$548K	$1.5M	17x	as long as short
Binance METAUSDTshort	0.0000%	8h	740.48	−0.041%	$26.8M	$177.4M	20x
Bybit METAUSDT	0.0000%	8h	740.52	−0.036%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.27	−0.070%	$6.0M	$13.1M	20x	as long as short
Hotstuff META-PERP	0.0000%	1h	740.54	−0.033%	$33K	$105	20x	as long as short
Gate META_USDT	0.0000%	8h	740.00	−0.106%	$320K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.59	−0.027%	$5.7M	$11.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	739.93	−0.116%	$1.6M	$2.5M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.06	−0.099%	$12K	$529K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.78	−0.001%	$582	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.66	−0.017%	$30K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.23	−0.075%	$105K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.53	−0.035%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.34	−0.060%	$2.2M	$14.2M	10x	as long as short
Lighter META	+0.0032%	1h	740.80	+0.002%	$860K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	740.83	+0.006%	$739K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.23	−0.075%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.05	+0.035%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.41	−0.051%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.57	−0.029%	$68.5M	$120.2M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.52	−0.036%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.37	−0.056%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.04	−0.101%	$639K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	740.36	−0.057%	—	—	5x	as long as short
Aftermath Perps METAUSDlong	+0.0054%	1h	740.79	long leg	$42K	$58K	10x
Coinbase International META-PERP-INTX	+0.0080%	1h	740.88	+0.012%	$609K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.35	−0.059%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.52	−0.036%	$1.6M	$350K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.51	−0.038%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.57	−0.029%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.38	−0.055%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.31	−0.065%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0285%	4h	740.19	−0.081%	$62K	$329K	10x	as long as short