Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.008%

Price spread now: Extended against OKX−0.050%7-day average −0.013% · 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−$32as in the Price arb table

costs, in and out, $10k−$290.286% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 7 days−0.243%−$24 · spread now −0.050%, 7d avg −0.013%

Together, before fees−0.096%+ Points / potential airdropExtended: Active · farm board−$10 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 0.037% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX META-USDT-SWAP	745.36	0	get 0.0000% / 8h	7h 02m	$6.1M	$12.9M	20x
Short	Extended META_24_5-USD	744.99	0	get 0.0000% / 1h	2m 09s	$546K	$3.4M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.050%Rate

Funding earned: $0
Price spread: −0.050% → −0.013%: −$3.74
Slippage, 4 orders: −$13.65
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$32.39
Costs to cover: 0.286%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Extended: live order book, 2 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	1.01 bp	9.8 bp −$10	20.4 bp −$204	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	0.07 bp	5.0 bp −$5	43.0 bp −$430	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	745.21	−0.020%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.80	−0.075%	$490K	$623K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	744.99	−0.050%	$546K	$3.4M	17x
Binance METAUSDT	0.0000%	8h	745.21	−0.020%	$25.9M	$191.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.45	+0.012%	$7.7M	$15.8M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	745.36	long leg	$6.1M	$12.9M	20x
Gate META_USDT	0.0000%	8h	744.75	−0.082%	$442K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.06	−0.040%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	744.88	−0.064%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.10	−0.035%	$12K	$437K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.26	−0.013%	$1K	$7.6M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.81	−0.074%	$36K	$271K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.97	−0.052%	$108K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.11	−0.034%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0009%	1h	744.78	−0.078%	$479K	$559K	20x	as long as short
Lighter RH META	+0.0032%	1h	745.31	−0.007%	$790K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	745.08	−0.038%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	744.78	−0.078%	$111K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.44	+0.011%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.20	−0.021%	$180K	$204K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.84	−0.070%	$566K	$618K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.19	−0.023%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.28	−0.145%	$719K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0059%	8h	745.08	−0.038%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0076%	1h	745.52	+0.021%	$51K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	744.43	−0.124%	$612	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.96	−0.054%	$1.6M	$795K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.32	−0.140%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.19	−0.023%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.94	−0.057%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	744.19	−0.157%	$642K	$8.0M	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	745.27	−0.012%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.78	−0.078%	$176K	$52K	30x	as long as short
Lighter META	+0.0296%	1h	745.49	+0.017%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0300%	1h	745.38	+0.003%	$86.1M	$134.5M	20x	as long as short
edgeX METAUSDC	+0.0510%	4h	745.00	−0.048%	$63K	$348K	10x	as long as short
Phoenix META	+0.0791%	1h	746.00	+0.086%	$796K	$1.5M	20x	as long as short