Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.129%

Price spread now: Bybit against Extended+0.031%7-day average +0.019% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Extended Short on Bybit

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+0.371%+$37 · spread now +0.031%, 7d avg +0.019%

Together, before fees+0.242%+ Points / potential airdropExtended: Active · farm board+$24 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended META_24_5-USD	741.99	0	get 0.0000% / 1h	9m 14s	$548K	$1.5M	17x
Short	Bybit METAUSDT	742.22	0	get 0.0000% / 8h	1h 09m	$7.5M	$14.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → +0.019%: $1.21
Slippage, 4 orders: −$15.97
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.76
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; Bybit: 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	0.54 bp	5.5 bp −$6	19.6 bp −$196	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.40 bp	10.9 bp −$11	19.5 bp −$195	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	742.37	+0.052%	$327K	$1.1M	20x	as long as short
Nado META-PERP	−0.0057%	1h	741.57	−0.057%	$392K	$328K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	−0.031%	$458K	$536K	20x	as long as short
Extended META_24_5-USDlong	0.0000%	1h	741.99	long leg	$548K	$1.5M	17x
Binance METAUSDT	0.0000%	8h	742.28	+0.040%	$27.2M	$178.9M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	742.22	+0.031%	$7.5M	$14.0M	100x
OKX META-USDT-SWAP	0.0000%	8h	742.21	+0.030%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.92	−0.009%	$350K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.28	+0.039%	$5.8M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	742.23	+0.033%	$2.1M	$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	742.26	+0.037%	$12K	$499K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.15	+0.022%	$1K	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.06	+0.010%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.42	+0.058%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	742.04	+0.007%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	742.49	+0.068%	$752K	$3.2M	20x	as long as short
Hotstuff META-PERP	+0.0040%	1h	742.09	+0.014%	$33K	$105	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.73	−0.035%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.34	+0.048%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.24	+0.034%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.19	+0.027%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.24	+0.034%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.89	−0.013%	$723K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0052%	8h	741.87	−0.016%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0058%	1h	742.79	+0.108%	$50K	$66K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	742.12	+0.018%	$606K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	741.81	−0.024%	$291K	$791K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.00	+0.002%	$1.6M	$368K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.41	−0.078%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.22	+0.031%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.08	+0.013%	$267	—	10x	as long as short
Lighter META	+0.0112%	1h	742.53	+0.073%	$864K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0132%	1h	742.28	+0.039%	$67.4M	$121.9M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.81	−0.024%	$169K	$46K	30x	as long as short
Deribit META_USDC-PERPETUAL	+0.0289%	1h	741.90	−0.012%	$30K	$256K	10x	as long as short
edgeX METAUSDC	+0.0539%	4h	742.29	+0.041%	$62K	$330K	10x	as long as short