Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.120%

Price spread now: Extended against Bybit−0.005%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.278% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 7 days−0.325%−$32 · spread now −0.005%, 7d avg −0.007%

Together, before fees−0.195%+ Points / potential airdropExtended: Active · farm board−$20 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit METAUSDT	742.28	0	get 0.0000% / 8h	4h 44m	$7.5M	$13.9M	100x
Short	Extended META_24_5-USD	742.24	0	get 0.0000% / 1h	44m 01s	$548K	$2.7M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.005%Rate

Funding earned: $0
Price spread: −0.005% → −0.007%: $0.23
Slippage, 4 orders: −$11.81
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$27.58
Costs to cover: 0.278%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Extended: live order book, 5 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	0.67 bp	8.3 bp −$8	16.0 bp −$160	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	0.27 bp	5.6 bp −$6	20.9 bp −$209	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	742.25	−0.004%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0049%	1h	742.20	−0.010%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.41	+0.018%	$466K	$551K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	742.24	−0.005%	$548K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	742.44	+0.022%	$27.5M	$180.4M	20x	as long as short
Bybit METAUSDTlong	0.0000%	8h	742.28	long leg	$7.5M	$13.9M	100x
OKX META-USDT-SWAP	0.0000%	8h	742.41	+0.018%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.07	−0.028%	$363K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.49	+0.028%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.05	−0.031%	$2.4M	$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	743.01	+0.099%	$12K	$434K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.76	+0.065%	$722	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.10	−0.024%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.54	+0.035%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.69	+0.055%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.68	+0.054%	$766K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.42	+0.019%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.10	−0.024%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.68	+0.054%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.57	+0.039%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.39	+0.015%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.39	+0.015%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.82	−0.062%	$701K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0061%	8h	742.50	+0.030%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	743.15	+0.117%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.69	+0.055%	$1.6M	$535K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.47	−0.109%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.62	+0.046%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.40	+0.016%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	742.02	−0.035%	$614K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	741.79	−0.066%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.35	−0.125%	$171K	$48K	30x	as long as short
Lighter META	+0.0224%	1h	742.57	+0.039%	$859K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0260%	1h	742.36	+0.011%	$69.4M	$120.4M	20x	as long as short
Phoenix META	+0.0591%	1h	743.92	+0.221%	$635K	$1.2M	20x	as long as short
edgeX METAUSDC	+0.0605%	4h	742.41	+0.018%	$62K	$338K	10x	as long as short