Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.044%

Price spread now: BloFin against Extended+0.039%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.349%−$35 on $10k

Price spread, last 4 days (all we have)+0.465%+$47 · spread now +0.039%, 7d avg +0.036%

Together, before fees+0.117%+ Points / potential airdropExtended: Active · farm board+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.036%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended META_24_5-USD	744.52	0	get 0.0000% / 1h	0m 47s	$546K	$3.4M	17x
Short	BloFin META-USDT	744.81	−0.0120	pay 0.0120% / 8h	7h 00m	$334K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$25.2
Price spread: +0.039% → +0.036%: $0.26
Slippage, 4 orders: −$9.36
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$51.3
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; BloFin: live order book, 1 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, 3 min ago	0.07 bp	5.0 bp −$5	25.1 bp −$251	doesn't fit	doesn't fit
Sell BloFin live order book, 1 min ago	0.54 bp	8.1 bp −$8	12.0 bp −$120	doesn't fit	doesn't fit

META on 37 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-USDTshort	−0.0120%	8h	744.81	+0.039%	$334K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	744.80	+0.037%	$490K	$623K	20x	as long as short
Extended META_24_5-USDlong	0.0000%	1h	744.52	long leg	$546K	$3.4M	17x
Binance METAUSDT	0.0000%	8h	744.78	+0.034%	$25.9M	$191.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.03	+0.068%	$7.7M	$15.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.67	+0.020%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.24	−0.038%	$450K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.60	+0.010%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	744.66	+0.018%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.10	+0.077%	$12K	$437K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	744.81	+0.039%	$1K	$7.6M	20x	as long as short
HTX META-USDT	0.0000%	8h	744.35	−0.023%	$108K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.84	+0.043%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0009%	1h	744.35	−0.024%	$478K	$559K	20x	as long as short
Lighter RH META	+0.0032%	1h	744.85	+0.044%	$798K	$3.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0032%	1h	744.04	−0.065%	$36K	$271K	10x	as long as short
QFEX META-USD	+0.0036%	1h	744.62	+0.013%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	744.34	−0.025%	$111K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.91	+0.052%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.71	+0.025%	$179K	$204K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.28	−0.033%	$566K	$618K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.68	+0.021%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.67	+0.020%	$719K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0059%	8h	744.64	+0.016%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	745.23	+0.094%	$51K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	744.09	−0.058%	$612	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.66	+0.018%	$1.6M	$798K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.32	−0.027%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.58	+0.008%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.39	−0.018%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	744.09	−0.058%	$640K	$7.9M	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	745.27	+0.100%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.78	+0.034%	$176K	$52K	30x	as long as short
Lighter META	+0.0296%	1h	745.03	+0.068%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0303%	1h	744.82	+0.040%	$86.2M	$134.5M	20x	as long as short
edgeX METAUSDC	+0.0510%	4h	745.00	+0.064%	$63K	$348K	10x	as long as short
Phoenix META	+0.0791%	1h	745.86	+0.180%	$796K	$1.5M	20x	as long as short