Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0524%/8h= −57.4% APRpaid last 24h −0.026%

Price spread now: Binance against tradeXYZ−0.021%7-day average +0.048% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$310.315% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.236%−$24 on $10k

Price spread, last 7 days+0.059%+$6 · spread now −0.021%, 7d avg +0.048%

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

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Binance is 0.070% cheaper against tradeXYZ than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.048%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.236% in total (about -12.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:META	745.65	0.0524	pay 0.0065% / 1h	47m 48s	$72.4M	$122.7M	20x
Short	Binance METAUSDT	745.49	0	get 0.0000% / 8h	2h 47m	$28.3M	$181.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.021%Rate

Funding earned: −$110.02
Price spread: −0.021% → +0.048%: −$6.99
Slippage, 4 orders: −$3.45
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$148.46
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 12 min ago; Binance: live order book, 11 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, 12 min ago	0.40 bp	9.4 bp −$9	10.0 bp −$100	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.07 bp	5.1 bp −$5	9.7 bp −$97	42.3 bp −$4,233	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	745.42	−0.031%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.39	+0.099%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.30	−0.047%	$547K	$2.7M	17x	as long as short
Binance METAUSDTshort	0.0000%	8h	745.49	−0.021%	$28.3M	$181.2M	20x
Bybit METAUSDT	0.0000%	8h	745.36	−0.039%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.46	−0.025%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.92	−0.098%	$430K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	745.99	+0.046%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.12	+0.063%	$12K	$448K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.56	−0.012%	$775	$8.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.88	−0.103%	$31K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.25	−0.054%	$106K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.15	+0.067%	$2.0M	$8K	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.39	−0.035%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.43	−0.030%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.24	−0.055%	$2.2M	$13.7M	10x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.91	−0.099%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.36	−0.039%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.71	−0.126%	$759K	$4.5M	10x	as long as short
Nado META-PERP	+0.0054%	1h	744.80	−0.114%	$481K	$557K	20x	as long as short
Lighter RH META	+0.0056%	1h	745.66	+0.001%	$768K	$2.9M	20x	as long as short
Bitget METAUSDT	+0.0067%	8h	745.73	+0.011%	$5.5M	$11.9M	100x	as long as short
Paradex META-USD-PERP	+0.0075%	8h	745.27	−0.051%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.05	+0.054%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.59	−0.008%	$1.6M	$633K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.03	−0.083%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.36	−0.039%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.30	−0.047%	$268	—	10x	as long as short
Popdex METAUSDT	+0.0120%	1h	745.44	−0.028%	$179K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	+0.102%	$671K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.43	+0.373%	$173K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	745.76	+0.015%	$983K	$2.5M	20x	as long as short
Hotstuff META-PERP	+0.0472%	1h	745.92	+0.036%	$33K	$105	20x	as long as short
tradeXYZ xyz:METAlong	+0.0524%	1h	745.65	long leg	$72.4M	$122.7M	20x
edgeX METAUSDC	+0.0524%	4h	745.99	+0.046%	$62K	$339K	10x	as long as short
Phoenix META	+0.0685%	1h	746.70	+0.141%	$797K	$1.4M	20x	as long as short