Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.039%

Price spread now: Bybit against Arcus+0.113%7-day average +0.024% · 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−$30as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.116%−$12 on $10k

Price spread, last 4 days (all we have)−0.126%−$13 · spread now +0.113%, 7d avg +0.024%

Together, before fees−0.242%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.089% dearer against Arcus than usual: you sell high and buy low (spread +0.113% now, against its 7-day average of +0.024%): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.4 days. At the pace of the last 4 days (−0.116% in total) that is about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus META-USD	744.43	0.0040	pay 0.0005% / 1h	41m 59s	$112K	$339K	10x
Short	Bybit METAUSDT	745.27	0	get 0.0000% / 8h	41m 59s	$7.5M	$15.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.113%Rate

Funding earned: −$8.46
Price spread: +0.113% → +0.024%: $8.89
Slippage, 4 orders: −$23.21
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$38.28
Costs to cover: 0.387%
Break-even: never at this rate

Slippage from Arcus: live order book, 62 min ago; Bybit: live order book, 1 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, 62 min ago	2.55 bp	8.0 bp −$8	13.3 bp −$133	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	1.95 bp	9.0 bp −$9	14.5 bp −$145	doesn't fit	doesn't fit

META on 37 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	745.13	+0.094%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.56	+0.152%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.50	+0.143%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.64	+0.163%	$25.2M	$188.5M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	745.27	+0.113%	$7.5M	$15.3M	100x
OKX META-USDT-SWAP	0.0000%	8h	745.40	+0.130%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.97	+0.073%	$466K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.54	+0.149%	$5.5M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	744.45	+0.003%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.63	+0.027%	$12K	$438K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.70	+0.171%	$943	$8.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.86	+0.058%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.20	+0.103%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.22	+0.106%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.30	+0.117%	$2.2M	$13.9M	10x	as long as short
Nado META-PERP	+0.0037%	1h	744.77	+0.045%	$480K	$560K	20x	as long as short
Lighter RH META	+0.0040%	1h	745.80	+0.184%	$789K	$3.1M	20x	as long as short
Arcus META-USDlong	+0.0040%	1h	744.43	long leg	$112K	$339K	10x
Vest META-USD-PERP	+0.0046%	1h	745.58	+0.154%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.15	+0.097%	$565K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.33	+0.121%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.90	−0.071%	$728K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	745.12	+0.093%	—	—	5x	as long as short
Popdex METAUSDT	+0.0056%	1h	745.58	+0.154%	$177K	$203K	20x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.48	+0.141%	$47K	$88K	10x	as long as short
Pacifica META	+0.0100%	1h	745.20	+0.103%	$13	$106	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.11	+0.091%	$1.6M	$714K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.98	−0.060%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.14	+0.095%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.02	+0.079%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.39	−0.005%	$643K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.51	+0.279%	$172K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0424%	1h	744.96	+0.071%	$33K	$105	20x	as long as short
Lighter META	+0.0472%	1h	745.81	+0.185%	$1.1M	$2.9M	20x	as long as short
edgeX METAUSDC	+0.0484%	4h	744.08	−0.048%	$62K	$345K	10x	as long as short
tradeXYZ xyz:META	+0.0544%	1h	745.65	+0.164%	$80.9M	$129.7M	20x	as long as short
Phoenix META	+0.0750%	1h	745.72	+0.173%	$796K	$1.5M	20x	as long as short