Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.063%

Price spread now: Arcus against Gate+0.001%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$540.540% of the position

Long on Gate Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.138%+$14 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.001%, 7d avg +0.027%

Together, before fees+0.120%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.025% cheaper against Gate than usual: you would sell low and buy high (spread +0.001% now, against its 7-day average of +0.027%). If the spread goes back, that is −$3 on $10k: about 2.1 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.138% in total) that is about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	742.58	0	get 0.0000% / 8h	4h 49m	$362K	$5.7M	100x
Short	Arcus META-USD	742.59	0.0040	get 0.0005% / 1h	49m 58s	$110K	$330K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Gate. 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 GatebpFee ArcusbpOrdersPrice spread, now +0.001%Rate

Funding earned: $8.46
Price spread: +0.001% → +0.027%: −$2.53
Slippage, 4 orders: −$34.47
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$48.04
Costs to cover: 0.540%
Break-even: 46.8 days

Slippage from Gate: live order book, 3 min ago; Arcus: live order book, 9 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 Gate live order book, 3 min ago	5.25 bp	19.2 bp −$19	47.4 bp −$474	doesn't fit	doesn't fit
Sell Arcus live order book, 9 min ago	3.30 bp	11.5 bp −$12	14.3 bp −$143	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	742.96	+0.051%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0054%	1h	742.50	−0.011%	$480K	$552K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.65	+0.009%	$466K	$551K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.89	+0.041%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.09	+0.069%	$27.5M	$180.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.93	+0.047%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.03	+0.061%	$6.0M	$13.5M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	742.58	long leg	$362K	$5.7M	100x
Bitget METAUSDT	0.0000%	8h	743.01	+0.058%	$5.4M	$11.6M	100x	as long as short
Variational Omni META	0.0000%	8h	742.77	+0.025%	$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	742.93	+0.047%	$12K	$434K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.08	+0.067%	$948	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.29	−0.039%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.80	+0.030%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.10	+0.070%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.12	+0.073%	$766K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.70	+0.016%	$2.1M	$13.7M	10x	as long as short
Arcus META-USDshort	+0.0040%	1h	742.59	+0.001%	$110K	$330K	10x
Vest META-USD-PERP	+0.0046%	1h	743.12	+0.073%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.86	+0.038%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.64	+0.008%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.89	+0.042%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.05	−0.071%	$711K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0061%	8h	742.69	+0.015%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	743.58	+0.135%	$50K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.12	+0.073%	$1.6M	$532K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.29	−0.039%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.88	+0.040%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.74	+0.021%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	742.67	+0.012%	$615K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	742.90	+0.043%	$33K	$105	20x	as long as short
Lighter META	+0.0216%	1h	743.06	+0.065%	$857K	$2.4M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.79	+0.298%	$172K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0263%	1h	743.12	+0.073%	$69.5M	$120.3M	20x	as long as short
edgeX METAUSDC	+0.0357%	4h	742.74	+0.022%	$62K	$336K	10x	as long as short
Phoenix META	+0.0591%	1h	743.61	+0.139%	$622K	$1.2M	20x	as long as short