Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0206%/8h= +22.5% APRpaid last 24h +0.033%

Price spread now: edgeX against Arcus−0.058%114s7-day average +0.019% · you buy dearer than you sell

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−$310.312% of the position

Long on Arcus Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.289%+$29 on $10k

Price spread, last 3 days (all we have)+0.060%+$6 · spread now −0.058%, 7d avg +0.019%

Together, before fees+0.349%+ Points / potential airdropedgeX: Active · farm board+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.077% cheaper against Arcus than usual: you would sell low and buy high (spread −0.058% now, against its 7-day average of +0.019%). If the spread goes back, that is −$8 on $10k: about 30 hours of funding at the current rate (+$6 a day). The two prices were read 114 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	740.85	0.0040	pay 0.0005% / 1h	27m 42s	$111K	$481K	10x
Short	edgeX METAUSDC	740.42	0.0246	get 0.0123% / 4h	1h 27m	$62K	$331K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.058%Rate

Funding earned: $43.22
Price spread: −0.058% → +0.019%: −$7.67
Slippage, 4 orders: −$17.73
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $4.32
Costs to cover: 0.312%
Break-even: 6.3 days

Slippage from Arcus: live order book, 56 min ago; edgeX: live order book, 56 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, 56 min ago	3.58 bp	6.0 bp −$6	7.0 bp −$70	12.5 bp −$1,251	doesn't fit
Sell edgeX live order book, 56 min ago	5.13 bp	9.7 bp −$10	11.3 bp −$113	doesn't fit	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	741.34	+0.066%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0084%	1h	741.43	+0.079%	$396K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	+0.123%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.14	+0.039%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.26	+0.055%	$27.0M	$178.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.32	+0.063%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.32	+0.063%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.75	−0.013%	$343K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.35	+0.067%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.62	−0.031%	$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	740.92	+0.009%	$12K	$506K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.57	+0.097%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.44	+0.080%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.09	+0.032%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.20	+0.047%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	741.35	+0.067%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.64	+0.107%	$749K	$3.2M	20x	as long as short
Arcus META-USDlong	+0.0040%	1h	740.85	long leg	$111K	$481K	10x
Vest META-USD-PERP	+0.0046%	1h	741.96	+0.150%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.38	+0.072%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.40	+0.074%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.27	+0.057%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	741.17	+0.043%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.18	+0.045%	$639K	$4.1M	10x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	741.46	+0.082%	$48K	$64K	10x	as long as short
Lighter META	+0.0056%	1h	741.61	+0.103%	$862K	$2.5M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.91	+0.008%	$606K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	741.12	+0.036%	$291K	$791K	20x	as long as short
tradeXYZ xyz:META	+0.0096%	1h	741.46	+0.082%	$68.6M	$120.9M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.21	+0.049%	$1.6M	$363K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.52	−0.045%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.28	+0.058%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.20	+0.048%	$267	—	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	741.51	+0.089%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.58	−0.036%	$169K	$46K	30x	as long as short
edgeX METAUSDCshort	+0.0246%	4h	740.42	−0.058%	$62K	$331K	10x