Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0329%/8h= +36.0% APRpaid last 24h +0.084%

Price spread now: Arcus against BloFin−0.109%7-day average −0.045% · 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−$34as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on BloFin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.302%+$30 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now −0.109%, 7d avg −0.045%

Together, before fees+0.269%+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.063% cheaper against BloFin than usual: you would sell low and buy high (spread −0.109% now, against its 7-day average of −0.045%). If the spread goes back, that is −$6 on $10k: about 15 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin META-USDT	736.69	−0.0120	get 0.0120% / 8h	4h 08m	$291K	$1.1M	20x
Short	Arcus META-USD	735.89	0.0209	get 0.0026% / 1h	8m 37s	$112K	$293K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against BloFin. 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 BloFinbpFee ArcusbpOrdersPrice spread, now −0.109%Rate

Funding earned: $69.04
Price spread: −0.109% → −0.045%: −$6.32
Slippage, 4 orders: −$11.23
Fee BloFin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $34.99
Costs to cover: 0.277%
Break-even: 3.5 days

Slippage from BloFin: live order book, 2 min ago; Arcus: live order book, 33 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 BloFin live order book, 2 min ago	0.75 bp	7.8 bp −$8	12.5 bp −$125	doesn't fit	doesn't fit
Sell Arcus live order book, 33 min ago	2.24 bp	7.9 bp −$8	8.6 bp −$86	19.2 bp −$1,919	doesn't fit

META on 37 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	736.41	−0.038%	$33K	$105	20x	as long as short
BloFin META-USDTlong	−0.0120%	8h	736.69	long leg	$291K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	737.00	+0.042%	$486K	$656K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	736.05	−0.086%	$543K	$3.9M	17x	as long as short
Binance METAUSDT	0.0000%	8h	736.32	−0.050%	$24.6M	$191.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	736.38	−0.042%	$7.5M	$16.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	736.30	−0.053%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	736.00	−0.094%	$485K	$6.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	736.35	−0.046%	$5.9M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	735.79	−0.122%	$2.7M	$3.3M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	736.26	−0.059%	$12K	$422K	10x	as long as short
SunX META-USDT	0.0000%	8h	736.65	−0.005%	$834	$6.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	736.34	−0.048%	$108K	$315K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	736.96	+0.037%	$2.0M	$10K	10x	as long as short
Lighter RH META	+0.0032%	1h	736.53	−0.022%	$914K	$2.9M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	736.42	−0.037%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	736.37	−0.043%	$177K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	736.12	−0.077%	$555K	$570K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	736.28	−0.056%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	735.70	−0.134%	$724K	$5.1M	10x	as long as short
QFEX META-USD	+0.0056%	1h	736.23	−0.062%	$2.2M	$14.1M	10x	as long as short
Paradex META-USD-PERP	+0.0059%	8h	736.14	−0.075%	—	—	5x	as long as short
Deribit META_USDC-PERPETUAL	+0.0063%	1h	736.13	−0.076%	$36K	$199K	10x	as long as short
Nado META-PERP	+0.0076%	1h	736.08	−0.083%	$478K	$546K	20x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	736.88	+0.025%	$53K	$84K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0088%	1h	735.77	−0.125%	$665K	$7.3M	10x	as long as short
Pacifica META	+0.0100%	1h	735.89	−0.109%	$606	$3K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	736.46	−0.031%	$1.6M	$978K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	735.48	−0.164%	$165K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	736.40	−0.039%	$1K	$338	10x	as long as short
Aevo META-PERP	+0.0104%	1h	736.33	−0.049%	$265	—	10x	as long as short
Arcus META-USDshort	+0.0209%	1h	735.89	−0.109%	$112K	$293K	10x
Injective META/USDC PERP	+0.0220%	1h	738.12	+0.194%	$167K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0291%	1h	735.96	−0.099%	$86.3M	$136.6M	20x	as long as short
Lighter META	+0.0400%	1h	736.75	+0.008%	$1.5M	$3.2M	20x	as long as short
Phoenix META	+0.0626%	1h	737.05	+0.049%	$787K	$1.6M	20x	as long as short
edgeX METAUSDC	+0.0724%	4h	736.16	−0.072%	$62K	$349K	10x	as long as short