Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0339%/8h= +37.1% APRpaid last 24h +0.049%

Price spread now: tradeXYZ against Bitget−0.003%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Bitget Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.176%+$18 on $10k

Price spread, last 7 days−0.019%−$2 · spread now −0.003%, 7d avg −0.043%

Together, before fees+0.157%+ Points / potential airdroptradeXYZ: Active · farm board+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and tradeXYZ is 0.040% dearer against Bitget than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.043%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.176% in total (about 9.2% 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	Bitget METAUSDT	742.36	0	get 0.0000% / 8h	5h 30m	$5.5M	$11.5M	100x
Short	tradeXYZ xyz:META	742.34	0.0339	get 0.0042% / 1h	30m 21s	$69.3M	$120.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Bitget. 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 BitgetbpFee tradeXYZbpOrdersPrice spread, now −0.003%Rate

Funding earned: $71.13
Price spread: −0.003% → −0.043%: $3.99
Slippage, 4 orders: −$13.19
Fee Bitget: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $31.93
Costs to cover: 0.432%
Break-even: 3.9 days

Slippage from Bitget: live order book, 3 min ago; tradeXYZ: live order book, 9 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 Bitget live order book, 3 min ago	0.41 bp	13.1 bp −$13	22.4 bp −$224	34.4 bp −$3,444	doesn't fit
Sell tradeXYZ live order book, 9 min ago	0.34 bp	9.7 bp −$10	11.1 bp −$111	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	742.00	−0.048%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0033%	1h	741.90	−0.062%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.95	−0.056%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.09	−0.037%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.32	−0.005%	$27.4M	$179.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.07	−0.039%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.50	+0.019%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.92	−0.059%	$346K	$5.6M	100x	as long as short
Bitget METAUSDTlong	0.0000%	8h	742.36	long leg	$5.5M	$11.5M	100x
Variational Omni META	0.0000%	8h	742.15	−0.029%	$2.3M	$3.1M	—	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	741.50	−0.116%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.51	+0.020%	$999	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.74	−0.084%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.21	−0.020%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.20	−0.022%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.51	+0.020%	$765K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	742.01	−0.047%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.31	−0.141%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.16	−0.027%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.30	−0.008%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.04	−0.043%	$559K	$539K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.37	+0.001%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.38	−0.132%	$703K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	742.06	−0.040%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	742.21	−0.021%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.64	−0.097%	$628K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.01	−0.047%	$1.6M	$515K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.62	−0.234%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.22	−0.019%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.14	−0.029%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.40	−0.129%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0248%	1h	742.01	−0.047%	$33K	$105	20x	as long as short
Lighter META	+0.0256%	1h	742.43	+0.009%	$862K	$2.4M	20x	as long as short
tradeXYZ xyz:METAshort	+0.0339%	1h	742.34	−0.003%	$69.3M	$120.1M	20x
Phoenix META	+0.0496%	1h	742.27	−0.012%	$534K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0680%	4h	741.29	−0.144%	$62K	$337K	10x	as long as short