Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.063%

Price spread now: Gate against Arcus−0.022%7-day average −0.027% · 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−$52as in the Price arb table

costs, in and out, $10k−$520.522% of the position

Long on Arcus Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.139%−$14 on $10k

Price spread, last 4 days (all we have)+0.036%+$4 · spread now −0.022%, 7d avg −0.027%

Together, before fees−0.103%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.027%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus META-USD	743.30	0.0040	pay 0.0005% / 1h	20m 42s	$109K	$331K	10x
Short	Gate META_USDT	743.14	0	get 0.0000% / 8h	2h 20m	$440K	$5.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.022%Rate

Funding earned: −$8.46
Price spread: −0.022% → −0.027%: $0.57
Slippage, 4 orders: −$32.68
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$60.06
Costs to cover: 0.522%
Break-even: never at this rate

Slippage from Arcus: live order book, 28 min ago; Gate: 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, 28 min ago	2.75 bp	9.6 bp −$10	13.2 bp −$132	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	5.72 bp	15.4 bp −$15	42.2 bp −$422	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	743.71	+0.055%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.95	+0.087%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.52	+0.030%	$544K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.63	+0.044%	$27.6M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.54	+0.032%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.71	+0.055%	$6.0M	$12.4M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	743.14	−0.022%	$440K	$5.9M	100x
Bitget METAUSDT	0.0000%	8h	743.79	+0.066%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	743.58	+0.038%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.85	+0.074%	$13K	$442K	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	743.86	+0.075%	$797	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.23	−0.009%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.47	+0.023%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.78	+0.065%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0013%	1h	743.21	−0.012%	$480K	$558K	20x	as long as short
Lighter RH META	+0.0032%	1h	743.76	+0.062%	$768K	$2.9M	20x	as long as short
Arcus META-USDlong	+0.0040%	1h	743.30	long leg	$109K	$331K	10x
Vest META-USD-PERP	+0.0046%	1h	744.06	+0.102%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.63	+0.044%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.81	+0.069%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.36	+0.008%	$585K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.69	+0.052%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.17	−0.017%	$740K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0073%	8h	743.46	+0.021%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	744.45	+0.154%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.64	+0.046%	$1.6M	$648K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.10	−0.027%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.50	+0.027%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.38	+0.010%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.58	+0.038%	$655K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.01	+0.365%	$172K	$46K	30x	as long as short
Lighter META	+0.0304%	1h	743.86	+0.075%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	743.94	+0.086%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0442%	1h	743.94	+0.086%	$75.0M	$125.1M	20x	as long as short
Phoenix META	+0.0685%	1h	744.88	+0.213%	$795K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0703%	4h	743.62	+0.043%	$62K	$340K	10x	as long as short