Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: Gate against SoDEX−0.030%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.030% cheaper against SoDEX than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX META-USD	740.52	0.0050	pay 0.0006% / 1h	1m 54s	$24K	$3K	10x
Short	Gate META_USDT	740.30	0	get 0.0000% / 8h	6h 01m	$354K	$5.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against SoDEX. 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 SoDEXbpFee GatebpOrdersPrice spread, now −0.030%Rate

Funding earned: −$10.5
Price spread: −0.030% → 0.000%: −$2.97
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$36.47
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Gate: live order book, 1 min ago. Net counts fees only.

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 SoDEX no order-book sample	—	—	—	—	—
Sell Gate live order book, 1 min ago	4.80 bp	15.2 bp −$15	45.9 bp −$459	doesn't fit	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

META on 35 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
Nado META-PERP	−0.0113%	1h	740.17	−0.047%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.84	+0.043%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.40	−0.016%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.58	+0.008%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.27	−0.034%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.29	−0.031%	$5.9M	$13.3M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	740.30	−0.030%	$354K	$5.6M	100x
Bitget METAUSDT	0.0000%	8h	740.42	−0.014%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.47	−0.007%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.46	−0.008%	$12K	$432K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.27	−0.034%	$1K	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.94	−0.078%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.24	−0.038%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.49	−0.004%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.32	−0.027%	$2.1M	$13.7M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.70	+0.024%	$762K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.98	−0.073%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.55	+0.004%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.46	−0.008%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.22	−0.041%	$558K	$547K	10x	as long as short
SoDEX META-USDlong	+0.0050%	1h	740.52	long leg	$24K	$3K	10x
Ondo Perps META-USD.P	+0.0050%	1h	739.94	−0.078%	$697K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	740.29	−0.031%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.90	+0.051%	$49K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.50	−0.003%	$1.6M	$497K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.73	−0.107%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.48	−0.005%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.33	−0.026%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.019%	$609K	$7.1M	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.44	−0.011%	$33K	$105	20x	as long as short
Lighter META	+0.0144%	1h	740.69	+0.023%	$860K	$2.4M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.18	+0.224%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0241%	1h	740.47	−0.007%	$68.3M	$119.7M	20x	as long as short
Phoenix META	+0.0313%	1h	741.11	+0.080%	$464K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0925%	4h	740.30	−0.030%	$62K	$335K	10x	as long as short