Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.039%

Price spread now: Bitget against Aftermath Perps−0.075%46s7-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 Bitget

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 Bitget is 0.075% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. 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	Aftermath Perps METAUSD	741.14	0.0053	pay 0.0007% / 1h	52m 32s	$47K	$63K	10x
Short	Bitget METAUSDT	740.59	0	get 0.0000% / 8h	1h 52m	$5.8M	$11.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$11.2
Price spread: −0.075% → 0.000%: −$7.45
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$39.65
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Bitget: live order book, 1 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 Bitget live order book, 1 min ago	0.74 bp	11.0 bp −$11	21.4 bp −$214	40.5 bp −$4,049	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
BloFin META-USDT	−0.0120%	8h	740.53	−0.083%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0103%	1h	740.46	−0.092%	$397K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.09	−0.008%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.47	−0.090%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.60	−0.074%	$26.9M	$177.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.48	−0.089%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.39	−0.102%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.18	−0.130%	$327K	$5.4M	100x	as long as short
Bitget METAUSDTshort	0.0000%	8h	740.59	−0.075%	$5.8M	$11.0M	100x
Variational Omni META	0.0000%	8h	740.46	−0.092%	$1.6M	$2.5M	—	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	740.47	−0.091%	$12K	$520K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.86	−0.038%	$890	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.23	−0.123%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.47	−0.091%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.52	−0.084%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.40	−0.100%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.91	−0.031%	$747K	$3.2M	20x	as long as short
Hotstuff META-PERP	+0.0032%	1h	740.71	−0.058%	$33K	$105	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.34	−0.108%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.01	−0.018%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.59	−0.075%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.69	−0.061%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.60	−0.073%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.44	−0.095%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.19	−0.129%	$649K	$4.0M	10x	as long as short
Aftermath Perps METAUSDlong	+0.0053%	1h	741.14	long leg	$47K	$63K	10x
Coinbase International META-PERP-INTX	+0.0064%	1h	740.71	−0.058%	$608K	$7.3M	10x	as long as short
Phoenix META	+0.0065%	1h	740.62	−0.070%	$291K	$791K	20x	as long as short
Lighter META	+0.0072%	1h	740.86	−0.038%	$860K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.37	−0.104%	$1.6M	$355K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.35	−0.107%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.63	−0.069%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.56	−0.079%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0111%	1h	740.71	−0.058%	$68.5M	$120.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.33	−0.110%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0693%	4h	740.46	−0.092%	$62K	$329K	10x	as long as short