Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.111%

Price spread now: Binance against Arcus+0.037%46s7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.221% of the position

Long on Arcus Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.181%−$18 on $10k

Price spread, last 2 days (all we have)−0.011%−$1 · spread now +0.037%, 7d avg +0.021%

Together, before fees−0.192%−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.021%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. 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	Arcus META-USD	740.49	0.0040	pay 0.0005% / 1h	0m 58s	$110K	$451K	10x
Short	Binance METAUSDT	740.77	0	get 0.0000% / 8h	0m 58s	$27.4M	$180.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Arcus. 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 ArcusbpFee BinancebpOrdersPrice spread, now +0.037%Rate

Funding earned: −$8.46
Price spread: +0.037% → +0.021%: $1.63
Slippage, 4 orders: −$7.63
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Binance: 5 bp × 2 orders: −$10
Net: −$28.96
Costs to cover: 0.221%
Break-even: never at this rate

Slippage from Arcus: live order book, 13 min ago; Binance: live order book, 12 min ago.

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 Arcus live order book, 13 min ago	1.75 bp	4.0 bp −$4	9.4 bp −$94	12.6 bp −$1,257	doesn't fit
Sell Binance live order book, 12 min ago	0.07 bp	5.9 bp −$6	10.2 bp −$102	36.3 bp −$3,630	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	740.93	+0.059%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.43	+0.126%	$457K	$545K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.78	+0.039%	$549K	$1.6M	17x	as long as short
Binance METAUSDTshort	0.0000%	8h	740.77	+0.037%	$27.4M	$180.3M	20x
Bybit METAUSDT	0.0000%	8h	740.57	+0.011%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.83	+0.046%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.49	0.000%	$344K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.78	+0.039%	$5.6M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	740.83	+0.047%	$2.3M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.63	+0.154%	$12K	$483K	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	740.76	+0.036%	$916	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.23	−0.035%	$30K	$258K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.78	+0.039%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.53	+0.140%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0022%	1h	740.40	−0.013%	$384K	$332K	20x	as long as short
QFEX META-USD	+0.0027%	1h	741.00	+0.069%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.00	+0.069%	$761K	$3.2M	20x	as long as short
Arcus META-USDlong	+0.0040%	1h	740.49	long leg	$110K	$451K	10x
Vest META-USD-PERP	+0.0046%	1h	740.92	+0.058%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.83	+0.046%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.79	+0.041%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.75	+0.035%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.36	−0.018%	$757K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0074%	8h	740.87	+0.052%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0074%	1h	741.38	+0.120%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.35	+0.116%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.81	+0.043%	$1.6M	$406K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.53	+0.005%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.93	+0.059%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.56	+0.010%	$267	—	10x	as long as short
Phoenix META	+0.0129%	1h	741.01	+0.070%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0176%	1h	740.95	+0.062%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.21	+0.367%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0227%	4h	741.23	+0.100%	$62K	$334K	10x	as long as short
tradeXYZ xyz:META	+0.0266%	1h	740.66	+0.023%	$67.8M	$122.7M	20x	as long as short
Lighter META	+0.0280%	1h	741.08	+0.080%	$859K	$2.6M	20x	as long as short