Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.060%

Price spread now: Bitget against Arcus+0.082%7-day average +0.030% · 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−$34as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Arcus Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.135%−$13 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now +0.082%, 7d avg +0.030%

Together, before fees−0.112%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.052% dearer against Arcus than usual: you sell high and buy low (spread +0.082% now, against its 7-day average of +0.030%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.3 days. At the pace of the last 4 days (−0.135% in total) that is about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus META-USD	744.22	0.0040	pay 0.0005% / 1h	0m 05s	$111K	$330K	10x
Short	Bitget METAUSDT	744.83	0	get 0.0000% / 8h	4h 00m	$5.4M	$11.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.082%Rate

Funding earned: −$8.46
Price spread: +0.082% → +0.030%: $5.24
Slippage, 4 orders: −$22.6
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$42.32
Costs to cover: 0.391%
Break-even: never at this rate

Slippage from Arcus: live order book, 58 min ago; Bitget: live order book, 3 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, 58 min ago	3.30 bp	8.7 bp −$9	14.0 bp −$140	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.54 bp	9.0 bp −$9	20.8 bp −$208	38.0 bp −$3,804	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	745.47	+0.168%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.29	+0.010%	$469K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.52	+0.040%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.74	+0.069%	$28.5M	$183.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.59	+0.050%	$7.7M	$14.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.79	+0.077%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.34	+0.016%	$366K	$5.8M	100x	as long as short
Bitget METAUSDTshort	0.0000%	8h	744.83	+0.082%	$5.4M	$11.8M	100x
Variational Omni META	0.0000%	8h	745.25	+0.139%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.97	+0.101%	$12K	$448K	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	745.18	+0.129%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	744.81	+0.079%	$106K	$301K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.14	+0.124%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0003%	1h	744.49	+0.036%	$481K	$553K	20x	as long as short
Lighter RH META	+0.0032%	1h	744.99	+0.103%	$781K	$3.1M	20x	as long as short
QFEX META-USD	+0.0036%	1h	744.89	+0.090%	$2.2M	$13.7M	10x	as long as short
Arcus META-USDlong	+0.0040%	1h	744.22	long leg	$111K	$330K	10x
Vest META-USD-PERP	+0.0046%	1h	745.09	+0.117%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.62	+0.054%	$586K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.93	+0.095%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.45	+0.031%	$819K	$4.7M	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0073%	1h	744.38	+0.021%	$31K	$246K	10x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	744.75	+0.071%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.62	+0.054%	$1.6M	$559K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.01	−0.028%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.81	+0.079%	$1K	$24	10x	as long as short
Popdex METAUSDT	+0.0104%	1h	745.08	+0.116%	$179K	$199K	20x	as long as short
Aevo META-PERP	+0.0104%	1h	744.70	+0.065%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.65	+0.058%	$623K	$7.3M	10x	as long as short
Paradex META-USD-PERP	+0.0104%	8h	744.95	+0.099%	—	—	5x	as long as short
Hotstuff META-PERP	+0.0192%	1h	745.02	+0.107%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.93	−0.173%	$171K	$48K	30x	as long as short
Lighter META	+0.0296%	1h	745.02	+0.107%	$862K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0305%	1h	744.68	+0.062%	$69.8M	$120.9M	20x	as long as short
edgeX METAUSDC	+0.0326%	4h	743.54	−0.091%	$62K	$338K	10x	as long as short
Phoenix META	+0.0591%	1h	745.84	+0.218%	$732K	$1.2M	20x	as long as short