Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.148%

Price spread now: Bitget against Extended−0.030%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on Extended Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.150%−$15 on $10k

Price spread, last 7 days+0.514%+$51 · spread now −0.030%, 7d avg +0.035%

Together, before fees+0.364%+ Points / potential airdropExtended: Active · farm board+$36 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.065% cheaper against Extended than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended META_24_5-USD	738.03	0	get 0.0000% / 1h	39m 29s	$551K	$2.3M	17x
Short	Bitget METAUSDT	737.81	0	get 0.0000% / 8h	7h 39m	$5.6M	$11.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Extended. 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 ExtendedbpFee BitgetbpOrdersPrice spread, now −0.030%Rate

Funding earned: $0
Price spread: −0.030% → +0.035%: −$6.5
Slippage, 4 orders: −$12.96
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$36.46
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; Bitget: live order book, 4 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 Extended live order book, 4 min ago	0.68 bp	5.7 bp −$6	30.0 bp −$300	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.88 bp	10.5 bp −$10	17.3 bp −$173	29.6 bp −$2,963	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
Phemex METAUSDT	−0.0400%	4h	738.31	+0.038%	$2.0M	$8K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	738.97	+0.128%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	738.61	+0.079%	$465K	$549K	20x	as long as short
Extended META_24_5-USDlong	0.0000%	1h	738.03	long leg	$551K	$2.3M	17x
Binance METAUSDT	0.0000%	8h	738.17	+0.019%	$27.2M	$179.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	738.14	+0.015%	$7.6M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	737.97	−0.008%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	737.53	−0.068%	$351K	$5.6M	100x	as long as short
Bitget METAUSDTshort	0.0000%	8h	737.81	−0.030%	$5.6M	$11.1M	100x
Variational Omni META	0.0000%	8h	738.89	+0.117%	$2.3M	$3.3M	—	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	739.31	+0.173%	$12K	$479K	10x	as long as short
SunX META-USDT	0.0000%	8h	737.91	−0.016%	$767	$9.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	737.23	−0.108%	$30K	$250K	10x	as long as short
HTX META-USDT	0.0000%	8h	737.97	−0.008%	$106K	$292K	30x	as long as short
Nado META-PERP	+0.0030%	1h	737.55	−0.065%	$372K	$343K	20x	as long as short
Lighter RH META	+0.0032%	1h	737.95	−0.011%	$755K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	738.15	+0.016%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	737.92	−0.015%	$177K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	737.94	−0.012%	$556K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	737.75	−0.038%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	736.96	−0.145%	$686K	$4.3M	10x	as long as short
QFEX META-USD	+0.0055%	1h	738.13	+0.014%	$2.2M	$14.2M	10x	as long as short
Hotstuff META-PERP	+0.0056%	1h	737.77	−0.035%	$33K	$105	20x	as long as short
Arcus META-USD	+0.0063%	1h	738.25	+0.030%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	737.73	−0.040%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	738.52	+0.066%	$48K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	738.23	+0.027%	$1.6M	$423K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	737.75	−0.038%	$165K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	737.94	−0.012%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	737.74	−0.040%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0143%	1h	738.04	+0.002%	$67.2M	$121.2M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	737.09	−0.127%	$618K	$7.3M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	738.87	+0.114%	$170K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	739.18	+0.156%	$277K	$930K	20x	as long as short
Lighter META	+0.0264%	1h	738.02	−0.001%	$849K	$2.5M	20x	as long as short
edgeX METAUSDC	+0.0843%	4h	738.72	+0.094%	$62K	$333K	10x	as long as short