Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0526%/8h= +57.5% APRpaid last 24h +0.026%

Price spread now: tradeXYZ against Binance+0.014%7-day average −0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$7as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.236%+$24 on $10k

Price spread, last 7 days−0.051%−$5 · spread now +0.014%, 7d avg −0.048%

Together, before fees+0.185%+ Points / potential airdroptradeXYZ: Active · farm board+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and tradeXYZ is 0.063% dearer against Binance than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.048%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.236% in total (about 12.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance METAUSDT	745.74	0	get 0.0000% / 8h	2h 46m	$28.3M	$181.2M	20x
Short	tradeXYZ xyz:META	745.84	0.0526	get 0.0066% / 1h	46m 31s	$72.5M	$122.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Binance. 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 BinancebpFee tradeXYZbpOrdersPrice spread, now +0.014%Rate

Funding earned: $110.36
Price spread: +0.014% → −0.048%: $6.25
Slippage, 4 orders: −$2.65
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $85.96
Costs to cover: 0.306%
Break-even: 1.5 days

Slippage from Binance: live order book, 12 min ago; tradeXYZ: 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 Binance live order book, 12 min ago	0.07 bp	6.8 bp −$7	13.6 bp −$136	50.3 bp −$5,031	doesn't fit
Sell tradeXYZ live order book, 3 min ago	0.13 bp	9.4 bp −$9	doesn't fit	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	745.63	−0.014%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.47	+0.099%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.47	−0.035%	$547K	$2.7M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	745.74	long leg	$28.3M	$181.2M	20x
Bybit METAUSDT	0.0000%	8h	745.51	−0.030%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.57	−0.022%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.91	−0.111%	$430K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	745.99	+0.034%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.12	+0.051%	$12K	$448K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.56	−0.024%	$795	$8.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.46	−0.171%	$31K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.64	−0.013%	$106K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.13	+0.053%	$2.0M	$8K	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.20	−0.072%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.67	−0.009%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.49	−0.033%	$2.2M	$13.7M	10x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.30	−0.058%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.40	−0.045%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.81	−0.124%	$758K	$4.5M	10x	as long as short
Bitget METAUSDT	+0.0053%	8h	745.81	+0.010%	$5.4M	$11.9M	100x	as long as short
Nado META-PERP	+0.0053%	1h	744.80	−0.126%	$481K	$556K	20x	as long as short
Lighter RH META	+0.0056%	1h	745.57	−0.022%	$768K	$2.9M	20x	as long as short
Paradex META-USD-PERP	+0.0076%	8h	745.25	−0.065%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.05	+0.042%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.52	−0.029%	$1.6M	$633K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.03	−0.095%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.36	−0.050%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.24	−0.066%	$268	—	10x	as long as short
Popdex METAUSDT	+0.0128%	1h	745.77	+0.005%	$179K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	+0.090%	$671K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.43	+0.361%	$173K	$46K	30x	as long as short
edgeX METAUSDC	+0.0232%	4h	745.42	−0.042%	$62K	$340K	10x	as long as short
Lighter META	+0.0384%	1h	745.63	−0.014%	$983K	$2.5M	20x	as long as short
Hotstuff META-PERP	+0.0456%	1h	745.72	−0.002%	$33K	$105	20x	as long as short
tradeXYZ xyz:METAshort	+0.0526%	1h	745.84	+0.014%	$72.5M	$122.8M	20x
Phoenix META	+0.0685%	1h	746.70	+0.129%	$797K	$1.4M	20x	as long as short