Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0452%/8h= −49.5% APRpaid last 24h −0.052%

Price spread now: Bitget against tradeXYZ−0.028%7-day average +0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on tradeXYZ Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.187%−$19 on $10k

Price spread, last 7 days+0.051%+$5 · spread now −0.028%, 7d avg +0.042%

Together, before fees−0.135%+ Points / potential airdroptradeXYZ: Active · farm board−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Bitget 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 +0.042%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.187% in total (about -9.7% 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	745.78	0.0452	pay 0.0057% / 1h	2m 48s	$76.3M	$125.9M	20x
Short	Bitget METAUSDT	745.57	0	get 0.0000% / 8h	2h 02m	$5.5M	$12.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$94.93
Price spread: −0.028% → +0.042%: −$7.03
Slippage, 4 orders: −$8.93
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$140.9
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 6 min ago; Bitget: live order book, 1 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, 6 min ago	0.20 bp	10.3 bp −$10	11.5 bp −$115	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	1.01 bp	8.8 bp −$9	18.5 bp −$185	42.0 bp −$4,195	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	745.68	−0.013%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0004%	1h	745.52	−0.035%	$483K	$557K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.39	−0.052%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.35	−0.057%	$549K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.50	−0.038%	$27.6M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.36	−0.056%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.50	−0.038%	$6.1M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.06	−0.097%	$433K	$6.0M	100x	as long as short
Bitget METAUSDTshort	0.0000%	8h	745.57	−0.028%	$5.5M	$12.1M	100x
Variational Omni META	0.0000%	8h	746.12	+0.046%	$2.4M	$3.3M	—	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	746.23	+0.060%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.31	−0.063%	$1K	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.99	−0.106%	$31K	$263K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.58	−0.027%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.84	+0.008%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	745.69	−0.012%	$775K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.38	−0.054%	$110K	$332K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.13	+0.047%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.33	−0.060%	$2.2M	$13.9M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.53	−0.034%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.06	−0.097%	$586K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.55	−0.031%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.16	−0.083%	$752K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0066%	8h	745.66	−0.016%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	746.54	+0.101%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.48	−0.040%	$1.6M	$659K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.28	−0.067%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.52	−0.035%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.39	−0.053%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.18	−0.080%	$657K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.302%	$172K	$46K	30x	as long as short
Lighter META	+0.0296%	1h	745.78	0.000%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	746.18	+0.054%	$33K	$105	20x	as long as short
tradeXYZ xyz:METAlong	+0.0452%	1h	745.78	long leg	$76.3M	$125.9M	20x
edgeX METAUSDC	+0.0547%	4h	745.87	+0.012%	$62K	$341K	10x	as long as short
Phoenix META	+0.0685%	1h	747.34	+0.209%	$798K	$1.4M	20x	as long as short