Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.071%

Price spread now: Bybit against edgeX−0.027%81s7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as 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−$400.401% of the position

Long on edgeX Short on Bybit

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)+0.075%+$7 · spread now −0.027%, 7d avg +0.006%

Together, before fees−0.405%+ Points / potential airdropedgeX: Active · farm board−$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.033% cheaper against edgeX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.006%). Swap the legs. The two prices were read 81 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	edgeX METAUSDC	740.40	0.0026	pay 0.0013% / 4h	2h 26m	$62K	$330K	10x
Short	Bybit METAUSDT	740.20	0	get 0.0000% / 8h	2h 26m	$7.4M	$13.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$5.39
Price spread: −0.027% → +0.006%: −$3.27
Slippage, 4 orders: −$20.1
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$48.76
Costs to cover: 0.401%
Break-even: never at this rate

Slippage from edgeX: live order book, 62 min ago; Bybit: live order book, 2 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 edgeX live order book, 62 min ago	5.20 bp	9.8 bp −$10	11.4 bp −$114	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	1.22 bp	10.1 bp −$10	17.1 bp −$171	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
Nado META-PERP	−0.0129%	1h	740.38	−0.002%	$398K	$316K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.24	−0.021%	$329K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.91	+0.069%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.29	−0.014%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.38	−0.002%	$26.8M	$177.4M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	740.20	−0.027%	$7.4M	$13.9M	100x
OKX META-USDT-SWAP	0.0000%	8h	740.15	−0.033%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.88	−0.070%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.35	−0.006%	$5.7M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.43	+0.005%	$1.6M	$2.5M	—	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	740.41	+0.001%	$12K	$529K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.79	+0.053%	$876	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.40	0.000%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.24	−0.021%	$105K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.31	−0.012%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.22	−0.024%	$2.2M	$14.2M	10x	as long as short
edgeX METAUSDClong	+0.0026%	4h	740.40	long leg	$62K	$330K	10x
Lighter META	+0.0032%	1h	740.45	+0.007%	$860K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	740.49	+0.012%	$740K	$3.2M	20x	as long as short
Hotstuff META-PERP	+0.0040%	1h	740.48	+0.011%	$33K	$105	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.20	−0.027%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.96	+0.076%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.37	−0.004%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.51	+0.015%	$68.5M	$120.3M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.53	+0.018%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.30	−0.013%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.32	−0.011%	$639K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	740.27	−0.017%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	741.00	+0.081%	$45K	$60K	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	740.53	+0.018%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.40	0.000%	$1.6M	$352K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.69	+0.039%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.50	+0.014%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.37	−0.004%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.31	−0.012%	$168K	$46K	30x	as long as short