Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.042%

Price spread now: Gate against Aftermath Perps−0.129%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 Gate

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 Gate is 0.129% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$13 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	740.97	0.0055	pay 0.0007% / 1h	43m 16s	$48K	$62K	10x
Short	Gate META_USDT	740.02	0	get 0.0000% / 8h	1h 43m	$321K	$5.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.129%Rate

Funding earned: −$11.59
Price spread: −0.129% → 0.000%: −$12.87
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$48.46
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Gate: 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Gate live order book, 5 min ago	6.96 bp	17.1 bp −$17	41.3 bp −$413	doesn't fit	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	740.31	−0.090%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0072%	1h	740.10	−0.118%	$395K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.90	−0.009%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.14	−0.113%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.27	−0.095%	$26.9M	$177.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.21	−0.103%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.10	−0.118%	$6.0M	$13.1M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	740.02	−0.129%	$321K	$5.4M	100x
Bitget METAUSDT	0.0000%	8h	740.15	−0.111%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.45	−0.071%	$1.6M	$2.6M	—	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	740.60	−0.051%	$12K	$509K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.57	−0.054%	$630	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.08	−0.121%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.16	−0.110%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.52	−0.061%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.14	−0.113%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.49	−0.065%	$743K	$3.2M	20x	as long as short
Hotstuff META-PERP	+0.0040%	1h	740.32	−0.088%	$33K	$105	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.01	−0.130%	$260K	$316K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.63	−0.046%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.22	−0.102%	$177K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.32	−0.088%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.23	−0.100%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.03	−0.128%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.34	−0.086%	$666K	$4.0M	10x	as long as short
Aftermath Perps METAUSDlong	+0.0055%	1h	740.97	long leg	$48K	$62K	10x
Coinbase International META-PERP-INTX	+0.0064%	1h	740.90	−0.010%	$608K	$7.3M	10x	as long as short
Phoenix META	+0.0065%	1h	740.46	−0.069%	$291K	$791K	20x	as long as short
Lighter META	+0.0088%	1h	740.47	−0.068%	$859K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.23	−0.100%	$1.6M	$359K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.17	−0.108%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.29	−0.092%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.13	−0.113%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0133%	1h	740.31	−0.090%	$68.4M	$120.6M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.38	−0.080%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0903%	4h	740.43	−0.073%	$62K	$331K	10x	as long as short