Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.056%

Price spread now: Arcus against OKX−0.023%7-day average −0.022% · 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−$39as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on OKX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.131%+$13 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now −0.023%, 7d avg −0.022%

Together, before fees+0.196%+$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX META-USDT-SWAP	742.24	0	get 0.0000% / 8h	4h 42m	$6.0M	$13.5M	20x
Short	Arcus META-USD	742.07	0.0040	get 0.0005% / 1h	42m 00s	$110K	$330K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against OKX. 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 OKXbpFee ArcusbpOrdersPrice spread, now −0.023%Rate

Funding earned: $8.46
Price spread: −0.023% → −0.022%: −$0.1
Slippage, 4 orders: −$24.67
Fee OKX: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$30.82
Costs to cover: 0.392%
Break-even: 32.5 days

Slippage from OKX: live order book, 1 min ago; Arcus: live order book, 17 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 OKX live order book, 1 min ago	1.08 bp	9.3 bp −$9	23.3 bp −$233	doesn't fit	doesn't fit
Sell Arcus live order book, 17 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	742.44	+0.027%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0048%	1h	741.90	−0.046%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.39	+0.020%	$466K	$551K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.37	+0.018%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.48	+0.032%	$27.5M	$180.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.28	+0.005%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	742.24	long leg	$6.0M	$13.5M	20x
Gate META_USDT	0.0000%	8h	742.06	−0.024%	$363K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.35	+0.015%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.05	−0.025%	$2.4M	$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_Perp	0.0000%	8h	742.33	+0.013%	$12K	$436K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.51	+0.036%	$932	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.04	−0.027%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.26	+0.003%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.35	+0.015%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.66	+0.057%	$766K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.03	−0.028%	$2.1M	$13.7M	10x	as long as short
Arcus META-USDshort	+0.0040%	1h	742.07	−0.023%	$110K	$330K	10x
Vest META-USD-PERP	+0.0046%	1h	742.38	+0.019%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.31	+0.009%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.19	−0.007%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.38	+0.019%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.82	−0.057%	$701K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	742.12	−0.016%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	743.15	+0.123%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.67	+0.058%	$1.6M	$536K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.34	−0.121%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.46	+0.030%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.37	+0.018%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	742.02	−0.030%	$614K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0120%	1h	742.33	+0.012%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.35	−0.120%	$171K	$48K	30x	as long as short
Lighter META	+0.0224%	1h	742.61	+0.050%	$858K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0263%	1h	742.56	+0.043%	$69.4M	$120.4M	20x	as long as short
Phoenix META	+0.0591%	1h	743.22	+0.132%	$639K	$1.2M	20x	as long as short
edgeX METAUSDC	+0.0605%	4h	742.41	+0.023%	$62K	$338K	10x	as long as short