Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.130%

Price spread now: Extended against GRVT−0.048%72s7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

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

costs, in and out, $10k−$280.276% of the position

Long on GRVT Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 4 days (all we have)+0.094%+$9 · spread now −0.048%, 7d avg −0.024%

Together, before fees+0.226%+ Points / potential airdropGRVT: Active · Extended: Active · farm board+$23 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 0.024% cheaper against GRVT than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.024%. The two prices were read 72 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	741.42	0	get 0.0000% / 8h	5h 36m	$12K	$432K	10x
Short	Extended META_24_5-USD	741.06	0	get 0.0000% / 1h	36m 07s	$549K	$2.7M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.048%Rate

Funding earned: $0
Price spread: −0.048% → −0.024%: −$2.38
Slippage, 4 orders: −$13.58
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$29.96
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from GRVT: live order book, 27 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 GRVT live order book, 27 min ago	1.15 bp	7.6 bp −$8	12.5 bp −$125	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.27 bp	5.2 bp −$5	23.1 bp −$231	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	741.24	−0.024%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0037%	1h	740.90	−0.070%	$479K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.63	+0.028%	$466K	$549K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	741.06	−0.048%	$549K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	741.26	−0.022%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.21	−0.028%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.29	−0.017%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.15	−0.036%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.24	−0.024%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.13	−0.039%	$2.3M	$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_Perplong	0.0000%	8h	741.42	long leg	$12K	$432K	10x
SunX META-USDT	0.0000%	8h	741.18	−0.032%	$800	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.70	−0.097%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.97	−0.060%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.21	−0.028%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.45	+0.004%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.10	−0.043%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	740.80	−0.083%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.39	−0.004%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.28	−0.019%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.98	−0.059%	$558K	$539K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.27	−0.020%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.53	−0.120%	$702K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	740.98	−0.058%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0076%	1h	742.15	+0.099%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	+0.054%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.41	−0.001%	$1.6M	$511K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.68	−0.100%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.11	−0.042%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.06	−0.048%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.52	+0.284%	$171K	$48K	30x	as long as short
Lighter META	+0.0240%	1h	741.42	0.000%	$861K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0248%	1h	741.33	−0.012%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0342%	1h	741.36	−0.008%	$69.2M	$120.1M	20x	as long as short
Phoenix META	+0.0496%	1h	742.14	+0.097%	$521K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0560%	4h	741.14	−0.037%	$62K	$335K	10x	as long as short