Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.024%

Price spread now: Bybit against Gate+0.009%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$520.525% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 7 days−0.038%−$4 · spread now +0.009%, 7d avg +0.031%

Together, before fees−0.013%−$1 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: Bybit is 0.022% cheaper against Gate than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	740.29	0	get 0.0000% / 8h	6h 05m	$354K	$5.6M	100x
Short	Bybit METAUSDT	740.36	0	get 0.0000% / 8h	6h 05m	$7.5M	$13.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.009%Rate

Funding earned: $0
Price spread: +0.009% → +0.031%: −$2.16
Slippage, 4 orders: −$26.47
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$54.63
Costs to cover: 0.525%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Bybit: live order book, 3 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	4.80 bp	16.8 bp −$17	34.4 bp −$344	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.63 bp	9.6 bp −$10	20.0 bp −$200	doesn't fit	doesn't fit

META on 35 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	−0.0117%	1h	740.07	−0.029%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.77	+0.065%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.30	+0.001%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.56	+0.037%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	740.36	+0.009%	$7.5M	$13.7M	100x
OKX META-USDT-SWAP	0.0000%	8h	740.40	+0.015%	$5.9M	$13.3M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	740.29	long leg	$354K	$5.6M	100x
Bitget METAUSDT	0.0000%	8h	740.42	+0.018%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.47	+0.024%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.33	+0.006%	$12K	$432K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.40	+0.015%	$674	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.07	−0.030%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.30	+0.001%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.44	+0.020%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.41	+0.016%	$2.2M	$13.7M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.70	+0.055%	$762K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.93	−0.049%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.61	+0.043%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.56	+0.036%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.31	+0.003%	$558K	$547K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.47	+0.024%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.54	−0.101%	$697K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	740.26	−0.004%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.88	+0.079%	$49K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.41	+0.016%	$1.6M	$495K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.81	−0.065%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.44	+0.020%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.28	−0.001%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.050%	$609K	$7.1M	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.45	+0.022%	$33K	$105	20x	as long as short
Lighter META	+0.0144%	1h	740.67	+0.051%	$860K	$2.4M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.18	+0.255%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0240%	1h	740.43	+0.019%	$68.3M	$119.7M	20x	as long as short
Phoenix META	+0.0313%	1h	741.05	+0.103%	$456K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0402%	4h	740.21	−0.011%	$62K	$335K	10x	as long as short