Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.154%

Price spread now: Extended against Gate+0.050%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$420.416% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.154%+$15 on $10k

Price spread, last 7 days−0.480%−$48 · spread now +0.050%, 7d avg +0.007%

Together, before fees−0.327%+ Points / potential airdropExtended: Active · farm board−$33 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: Extended is 0.042% dearer against Gate than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	740.06	0	get 0.0000% / 8h	2h 30m	$319K	$5.4M	100x
Short	Extended META_24_5-USD	740.43	0	get 0.0000% / 1h	30m 44s	$548K	$1.5M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.050%Rate

Funding earned: $0
Price spread: +0.050% → +0.007%: $4.23
Slippage, 4 orders: −$21.65
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$37.41
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Extended: 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	5.47 bp	17.2 bp −$17	38.0 bp −$380	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.07 bp	5.1 bp −$5	27.1 bp −$271	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
Nado META-PERP	−0.0129%	1h	740.47	+0.056%	$399K	$316K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.47	+0.055%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.92	+0.116%	$457K	$536K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	740.43	+0.050%	$548K	$1.5M	17x
Binance METAUSDT	0.0000%	8h	740.51	+0.061%	$26.8M	$177.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.54	+0.065%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.27	+0.028%	$6.0M	$13.1M	20x	as long as short
Hotstuff META-PERP	0.0000%	1h	740.54	+0.065%	$33K	$105	20x	as long as short
Gate META_USDTlong	0.0000%	8h	740.06	long leg	$319K	$5.4M	100x
Bitget METAUSDT	0.0000%	8h	740.59	+0.072%	$5.7M	$11.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	739.93	−0.018%	$1.6M	$2.5M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.06	0.000%	$12K	$529K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.78	+0.097%	$582	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.66	+0.081%	$30K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.23	+0.023%	$105K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.53	+0.064%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.34	+0.038%	$2.2M	$14.2M	10x	as long as short
Lighter META	+0.0032%	1h	740.79	+0.099%	$860K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	740.83	+0.104%	$739K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.23	+0.023%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.05	+0.134%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.41	+0.047%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.56	+0.068%	$68.5M	$120.2M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.52	+0.062%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.37	+0.042%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.04	−0.003%	$639K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	740.36	+0.041%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0054%	1h	740.79	+0.098%	$42K	$58K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	740.88	+0.111%	$609K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.35	+0.039%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.41	+0.047%	$1.6M	$350K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.51	+0.061%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.57	+0.069%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.38	+0.043%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.31	+0.034%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0285%	4h	740.19	+0.017%	$62K	$329K	10x	as long as short