Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.064%

Price spread now: Arcus against HTX−0.068%7-day average −0.011% · 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−$45as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on HTX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.139%+$14 on $10k

Price spread, last 4 days (all we have)−0.121%−$12 · spread now −0.068%, 7d avg −0.011%

Together, before fees+0.018%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.058% cheaper against HTX than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of −0.011%). If the spread goes back, that is −$6 on $10k: about 4.8 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.139% in total) that is about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX META-USDT	744.84	0	get 0.0000% / 8h	3h 55m	$106K	$302K	30x
Short	Arcus META-USD	744.33	0.0040	get 0.0005% / 1h	55m 55s	$111K	$330K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against HTX. 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 HTXbpFee ArcusbpOrdersPrice spread, now −0.068%Rate

Funding earned: $8.46
Price spread: −0.068% → −0.011%: −$5.77
Slippage, 4 orders: −$22.44
Fee HTX: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$36.25
Costs to cover: 0.389%
Break-even: 37.0 days

Slippage from HTX: live order book, 61 min ago; Arcus: live order book, 63 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 HTX live order book, 61 min ago	2.69 bp	10.0 bp −$10	19.1 bp −$191	doesn't fit	doesn't fit
Sell Arcus live order book, 63 min ago	3.30 bp	11.5 bp −$12	14.3 bp −$143	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	745.07	+0.031%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0033%	1h	744.39	−0.060%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.40	−0.059%	$469K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.57	−0.037%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.76	−0.011%	$28.5M	$183.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.75	−0.012%	$7.7M	$14.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.80	−0.005%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.14	−0.094%	$365K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.79	−0.007%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.70	−0.018%	$2.4M	$3.2M	—	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_Perp	0.0000%	8h	744.58	−0.035%	$12K	$450K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.79	−0.007%	$877	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.32	−0.070%	$31K	$246K	10x	as long as short
HTX META-USDTlong	0.0000%	8h	744.84	long leg	$106K	$302K	30x
Phemex METAUSDT	0.0000%	4h	745.02	+0.024%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.99	+0.020%	$781K	$2.9M	20x	as long as short
Arcus META-USDshort	+0.0040%	1h	744.33	−0.068%	$111K	$330K	10x
Vest META-USD-PERP	+0.0046%	1h	744.89	+0.007%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.84	0.000%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.40	−0.059%	$586K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.80	−0.005%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.19	−0.087%	$819K	$4.7M	10x	as long as short
QFEX META-USD	+0.0058%	1h	744.70	−0.019%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	745.27	+0.058%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.67	−0.023%	$1.6M	$592K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.69	−0.154%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.79	−0.007%	$1K	$24	10x	as long as short
Paradex META-USD-PERP	+0.0103%	8h	744.58	−0.035%	—	—	5x	as long as short
Aevo META-PERP	+0.0104%	1h	744.71	−0.018%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	744.49	−0.047%	$616K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0192%	1h	744.98	+0.019%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.44	−0.054%	$172K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	744.94	+0.013%	$862K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0323%	1h	744.76	−0.011%	$69.9M	$121.1M	20x	as long as short
Phoenix META	+0.0591%	1h	745.89	+0.141%	$741K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0954%	4h	744.56	−0.038%	$62K	$336K	10x	as long as short