Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0483%/8h= +52.9% APRpaid last 24h +0.071%

Price spread now: edgeX against Bybit−0.010%91s7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.378% of the position

Long on Bybit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.479%+$48 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now −0.010%, 7d avg −0.006%

Together, before fees+0.442%+ Points / potential airdropedgeX: Active · farm board+$44 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: +$14 a day on $10k at the current rate. The two prices were read 91 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	Bybit METAUSDT	740.40	0	get 0.0000% / 8h	2h 14m	$7.4M	$13.9M	100x
Short	edgeX METAUSDC	740.32	0.0483	get 0.0242% / 4h	2h 14m	$62K	$330K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Bybit. 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 BybitbpFee edgeXbpOrdersPrice spread, now −0.010%Rate

Funding earned: $101.44
Price spread: −0.010% → −0.006%: −$0.45
Slippage, 4 orders: −$17.76
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $63.23
Costs to cover: 0.378%
Break-even: 2.6 days

Slippage from Bybit: live order book, 4 min ago; edgeX: 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 Bybit live order book, 4 min ago	1.42 bp	10.4 bp −$10	16.4 bp −$164	doesn't fit	doesn't fit
Sell edgeX live order book, 9 min ago	5.13 bp	9.7 bp −$10	11.3 bp −$113	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	740.50	+0.014%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0110%	1h	740.27	−0.018%	$397K	$317K	20x	as long as short
Hotstuff META-PERP	−0.0064%	1h	740.58	+0.024%	$33K	$105	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.95	+0.074%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.35	−0.006%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.45	+0.007%	$26.9M	$177.5M	20x	as long as short
Bybit METAUSDTlong	0.0000%	8h	740.40	long leg	$7.4M	$13.9M	100x
OKX META-USDT-SWAP	0.0000%	8h	740.22	−0.024%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.16	−0.032%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.44	+0.005%	$5.8M	$11.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.42	+0.003%	$1.6M	$2.5M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.31	−0.012%	$12K	$525K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.86	+0.062%	$1K	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.22	−0.024%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.43	+0.004%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.30	−0.014%	$2.2M	$14.2M	10x	as long as short
Lighter META	+0.0032%	1h	740.71	+0.042%	$860K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	740.72	+0.043%	$740K	$3.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0034%	1h	740.66	+0.035%	$30K	$256K	10x	as long as short
Arcus META-USD	+0.0040%	1h	740.27	−0.018%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.84	+0.059%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.44	+0.005%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.69	+0.039%	$68.5M	$120.5M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.61	+0.028%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.34	−0.008%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.22	−0.024%	$641K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.23	−0.023%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	741.03	+0.085%	$45K	$61K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	740.26	−0.019%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.62	+0.030%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.37	−0.004%	$1.6M	$353K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.34	−0.008%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.44	+0.005%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.32	−0.010%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.09	−0.042%	$168K	$46K	30x	as long as short
edgeX METAUSDCshort	+0.0483%	4h	740.32	−0.010%	$62K	$330K	10x