Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0489%/8h= +53.6% APRpaid last 24h +0.056%

Price spread now: tradeXYZ against Gate+0.120%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$490.494% of the position

Long on Gate Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.195%+$19 on $10k

Price spread, last 7 days−0.101%−$10 · spread now +0.120%, 7d avg +0.010%

Together, before fees+0.093%+ Points / potential airdroptradeXYZ: Active · farm board+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and tradeXYZ is 0.109% dearer against Gate than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.010%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.195% in total (about 10.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	744.38	0	get 0.0000% / 8h	1h 20m	$460K	$6.2M	100x
Short	tradeXYZ xyz:META	745.27	0.0489	get 0.0061% / 1h	20m 18s	$77.8M	$127.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.120%Rate

Funding earned: $102.77
Price spread: +0.120% → +0.010%: $10.92
Slippage, 4 orders: −$16.36
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $64.33
Costs to cover: 0.494%
Break-even: 2.6 days

Slippage from Gate: live order book, 3 min ago; tradeXYZ: 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	5.24 bp	15.5 bp −$16	38.1 bp −$381	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 9 min ago	0.40 bp	10.1 bp −$10	12.8 bp −$128	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-USDT	−0.0120%	8h	744.97	+0.079%	$333K	$1.1M	20x	as long as short
Nado META-PERP	−0.0043%	1h	744.53	+0.020%	$480K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.03	+0.087%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.58	+0.027%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.76	+0.051%	$25.0M	$188.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.76	+0.051%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.07	+0.093%	$6.0M	$12.7M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	744.38	long leg	$460K	$6.2M	100x
Bitget METAUSDT	0.0000%	8h	745.00	+0.083%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.80	+0.056%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.80	+0.056%	$13K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.87	+0.066%	$571	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.35	−0.004%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.83	+0.060%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.87	+0.066%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.68	+0.040%	$2.2M	$13.8M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.04	+0.089%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.66	+0.038%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.22	+0.113%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.93	+0.074%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.43	+0.007%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.87	+0.066%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.61	+0.031%	$685K	$5.3M	10x	as long as short
Paradex META-USD-PERP	+0.0059%	8h	744.81	+0.058%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.68	+0.175%	$52K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.84	+0.062%	$1.6M	$687K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.19	−0.026%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.71	+0.044%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.59	+0.028%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.73	+0.047%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.34	+0.398%	$172K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	745.21	+0.112%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0368%	1h	745.31	+0.125%	$33K	$105	20x	as long as short
tradeXYZ xyz:METAshort	+0.0489%	1h	745.27	+0.120%	$77.8M	$127.5M	20x
Phoenix META	+0.0739%	1h	746.23	+0.249%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	745.05	+0.090%	$13	$46	—	as long as short
edgeX METAUSDC	+0.0905%	4h	744.74	+0.048%	$62K	$343K	10x	as long as short