Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.145%

Price spread now: Extended against SunX−0.021%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$750.750% of the position

Long on SunX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.155%+$15 on $10k

Price spread, last 4 days (all we have)−0.204%−$20 · spread now −0.021%, 7d avg −0.043%

Together, before fees−0.049%+ Points / potential airdropExtended: Active · farm board−$5 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 0.022% dearer against SunX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	742.32	0	get 0.0000% / 8h	4h 45m	$596	$9.1M	20x
Short	Extended META_24_5-USD	742.16	0	get 0.0000% / 1h	45m 18s	$548K	$2.7M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against SunX. 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 SunXbpFee ExtendedbpOrdersPrice spread, now −0.021%Rate

Funding earned: $0
Price spread: −0.021% → −0.043%: $2.18
Slippage, 4 orders: −$61.97
Fee SunX: 4 bp × 2 orders: −$8
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$72.79
Costs to cover: 0.750%
Break-even: never at this rate

Slippage from SunX: live order book, 4 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 SunX live order book, 4 min ago	28.07 bp	32.1 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.27 bp	5.6 bp −$6	20.9 bp −$209	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	742.25	−0.009%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0049%	1h	741.61	−0.096%	$479K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.43	+0.014%	$466K	$551K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	742.16	−0.021%	$548K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	742.34	+0.003%	$27.5M	$180.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.08	−0.032%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.07	−0.034%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.72	−0.081%	$363K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.28	−0.005%	$5.3M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.05	−0.036%	$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	743.01	+0.094%	$12K	$434K	10x	as long as short
SunX META-USDTlong	0.0000%	8h	742.32	long leg	$596	$9.1M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.85	−0.063%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.14	−0.024%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.83	+0.069%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.36	+0.005%	$767K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	741.94	−0.051%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.16	−0.022%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.21	−0.015%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.11	−0.028%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.96	−0.048%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.11	−0.028%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.30	−0.137%	$701K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0061%	8h	741.82	−0.068%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	742.94	+0.084%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.14	−0.024%	$1.6M	$535K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.47	−0.115%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.29	−0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.08	−0.032%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	742.02	−0.040%	$614K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0112%	1h	742.18	−0.019%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.35	−0.131%	$171K	$48K	30x	as long as short
Lighter META	+0.0224%	1h	742.38	+0.008%	$859K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0262%	1h	742.23	−0.012%	$69.4M	$120.3M	20x	as long as short
Phoenix META	+0.0591%	1h	743.92	+0.216%	$635K	$1.2M	20x	as long as short
edgeX METAUSDC	+0.0605%	4h	742.41	+0.012%	$62K	$338K	10x	as long as short