Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.042%

Price spread now: Arcus against GRVT−0.038%54s7-day average −0.033% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.349% of the position

Long on GRVT Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.117%+$12 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.038%, 7d avg −0.033%

Together, before fees+0.149%+ Points / potential airdropGRVT: Active · farm board+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.033%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT META_USDT_Perp	744.20	0	get 0.0000% / 8h	1h 34m	$12K	$438K	10x
Short	Arcus META-USD	743.92	0.0040	get 0.0005% / 1h	34m 18s	$109K	$333K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against GRVT. 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 GRVTbpFee ArcusbpOrdersPrice spread, now −0.038%Rate

Funding earned: $8.46
Price spread: −0.038% → −0.033%: −$0.48
Slippage, 4 orders: −$21.4
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$26.93
Costs to cover: 0.349%
Break-even: 29.3 days

Slippage from GRVT: live order book, 8 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 GRVT live order book, 8 min ago	0.81 bp	7.3 bp −$7	12.3 bp −$123	doesn't fit	doesn't fit
Sell Arcus live order book, 9 min ago	2.55 bp	11.0 bp −$11	14.0 bp −$140	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	744.05	−0.021%	$333K	$1.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0086%	1h	743.58	−0.084%	$34K	$275K	10x	as long as short
Nado META-PERP	−0.0030%	1h	743.73	−0.063%	$481K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.40	+0.161%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.78	−0.058%	$552K	$1.9M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.44	+0.032%	$25.2M	$188.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.38	+0.024%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.73	+0.071%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.52	−0.092%	$457K	$6.1M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.56	+0.048%	$5.6M	$12.3M	100x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	744.08	−0.016%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perplong	0.0000%	8h	744.20	long leg	$12K	$438K	10x
SunX META-USDT	0.0000%	8h	743.82	−0.052%	$773	$8.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.82	−0.052%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.64	+0.059%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	743.81	−0.053%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	744.78	+0.077%	$786K	$2.9M	20x	as long as short
Arcus META-USDshort	+0.0040%	1h	743.92	−0.038%	$109K	$333K	10x
Vest META-USD-PERP	+0.0046%	1h	744.53	+0.044%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.95	−0.034%	$177K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.84	−0.049%	$585K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.97	−0.031%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.46	−0.100%	$710K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	743.91	−0.039%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	745.01	+0.109%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.18	−0.003%	$1.6M	$677K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.50	−0.095%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.98	−0.030%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.99	−0.029%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.10	−0.014%	$658K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.64	+0.596%	$173K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0376%	1h	744.47	+0.036%	$33K	$105	20x	as long as short
Lighter META	+0.0376%	1h	744.93	+0.098%	$1.1M	$2.7M	20x	as long as short
tradeXYZ xyz:META	+0.0508%	1h	744.47	+0.036%	$77.2M	$127.4M	20x	as long as short
edgeX METAUSDC	+0.0548%	4h	744.17	−0.005%	$62K	$343K	10x	as long as short
Phoenix META	+0.0739%	1h	746.28	+0.279%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	744.06	−0.019%	—	—	—	as long as short