Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0246%/8h= −27.0% APRpaid last 24h −0.053%

Price spread now: Aster against tradeXYZ+0.059%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$920.917% of the position

Long on tradeXYZ Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.178%−$18 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.059%, 7d avg +0.100%

Together, before fees−0.177%+ Points / potential airdroptradeXYZ: Active · Aster: Stage 5 · farm board−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Aster is 0.042% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.100%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:META	740.19	0.0246	pay 0.0031% / 1h	18m 57s	$68.3M	$120.0M	20x
Short	Aster METAUSDT	740.62	0	get 0.0000% / 8h	6h 18m	$466K	$549K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against tradeXYZ. 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 tradeXYZbpFee AsterbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$51.69
Price spread: +0.059% → +0.100%: −$4.16
Slippage, 4 orders: −$65.7
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Aster: 4 bp × 2 orders: −$8
Net: −$147.54
Costs to cover: 0.917%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 11 min ago; Aster: live order book, 49 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 tradeXYZ live order book, 11 min ago	0.41 bp	9.9 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 49 min ago	6.28 bp	20.9 bp −$21	424.1 bp −$4,241	doesn't fit	doesn't fit

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	−0.0122%	1h	739.71	−0.065%	$478K	$549K	20x	as long as short
Aster METAUSDTshort	0.0000%	8h	740.62	+0.059%	$466K	$549K	20x
Extended META_24_5-USD	0.0000%	1h	739.89	−0.040%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.14	−0.007%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.05	−0.019%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.07	−0.016%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.97	−0.030%	$352K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.28	+0.012%	$5.5M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	740.21	+0.003%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.46	+0.037%	$12K	$433K	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	739.88	−0.042%	$752	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.83	−0.049%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	739.86	−0.045%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.79	+0.081%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.14	−0.007%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.32	+0.018%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.88	−0.042%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.45	+0.035%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.09	−0.014%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.04	−0.020%	$557K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.08	−0.015%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.99	−0.027%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	739.96	−0.031%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.89	+0.094%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.36	+0.023%	$1.6M	$485K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.56	−0.085%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.10	−0.012%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.90	−0.039%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.063%	$609K	$7.2M	10x	as long as short
Lighter META	+0.0136%	1h	740.27	+0.011%	$860K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0136%	1h	740.23	+0.005%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.42	+0.301%	$171K	$48K	30x	as long as short
tradeXYZ xyz:METAlong	+0.0246%	1h	740.19	long leg	$68.3M	$120.0M	20x
Phoenix META	+0.0313%	1h	740.85	+0.089%	$429K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0939%	4h	740.24	+0.007%	$62K	$335K	10x	as long as short