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 −0.042%

Price spread now: GRVT against Arcus+0.058%54s7-day average +0.033% · 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−$380.381% of the position

Long on Arcus Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.117%−$12 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now +0.058%, 7d avg +0.033%

Together, before fees−0.170%+ Points / potential airdropGRVT: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.025% dearer against Arcus than usual: you sell high and buy low (spread +0.058% now, against its 7-day average of +0.033%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.0 days. At the pace of the last 4 days (−0.117% in total) that is about 19 hours. The two prices were read 54 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	743.39	0.0040	pay 0.0005% / 1h	15m 56s	$109K	$331K	10x
Short	GRVT META_USDT_Perp	743.82	0	get 0.0000% / 8h	2h 15m	$12K	$443K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Arcus. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GRVTbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$8.46
Price spread: +0.058% → +0.033%: $2.46
Slippage, 4 orders: −$24.63
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$44.12
Costs to cover: 0.381%
Break-even: never at this rate

Slippage from Arcus: live order book, 33 min ago; GRVT: live order book, 32 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, 33 min ago	2.75 bp	9.6 bp −$10	13.2 bp −$132	doesn't fit	doesn't fit
Sell GRVT live order book, 32 min ago	1.14 bp	7.3 bp −$7	14.2 bp −$142	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	743.79	+0.054%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.18	+0.106%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.69	+0.041%	$544K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.91	+0.070%	$27.6M	$182.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.79	+0.054%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.16	+0.104%	$6.0M	$12.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.38	−0.001%	$440K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.96	+0.077%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	743.58	+0.026%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perpshort	0.0000%	8h	743.82	+0.058%	$12K	$443K	10x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	744.05	+0.089%	$681	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.33	−0.008%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.81	+0.056%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.20	+0.109%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0013%	1h	743.48	+0.012%	$481K	$558K	20x	as long as short
Lighter RH META	+0.0032%	1h	744.09	+0.094%	$760K	$3.0M	20x	as long as short
Arcus META-USDlong	+0.0040%	1h	743.39	long leg	$109K	$331K	10x
Vest META-USD-PERP	+0.0046%	1h	744.18	+0.106%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.89	+0.067%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.99	+0.081%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.52	+0.017%	$585K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.90	+0.069%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.32	−0.009%	$745K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0072%	8h	743.46	+0.010%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	744.44	+0.141%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.74	+0.047%	$1.6M	$652K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.01	−0.051%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.94	+0.074%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.72	+0.045%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.43	+0.005%	$654K	$7.8M	10x	as long as short
edgeX METAUSDC	+0.0187%	4h	743.65	+0.035%	$62K	$340K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.01	+0.352%	$172K	$46K	30x	as long as short
Lighter META	+0.0304%	1h	744.17	+0.105%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	744.02	+0.085%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0447%	1h	744.27	+0.118%	$75.3M	$125.4M	20x	as long as short
Phoenix META	+0.0685%	1h	744.89	+0.202%	$795K	$1.4M	20x	as long as short