Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0430%/8h= −47.1% APRpaid last 24h −0.095%

Price spread now: BloFin against tradeXYZ+0.003%108s7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.366% of the position

Long on tradeXYZ Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.402%−$40 on $10k

Price spread, last 4 days (all we have)+0.556%+$56 · spread now +0.003%, 7d avg +0.033%

Together, before fees+0.154%+ Points / potential airdroptradeXYZ: Active · farm board+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and BloFin is 0.031% cheaper against tradeXYZ than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.033%). Swap the legs. The two prices were read 108 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:META	745.67	0.0310	pay 0.0039% / 1h	57m 17s	$86.4M	$134.7M	20x
Short	BloFin META-USDT	745.69	−0.0120	pay 0.0120% / 8h	6h 57m	$334K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$90.4
Price spread: +0.003% → +0.033%: −$3.06
Slippage, 4 orders: −$6.55
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$130.01
Costs to cover: 0.366%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 12 min ago; BloFin: live order book, 5 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	0.81 bp	10.0 bp −$10	11.5 bp −$115	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.54 bp	8.1 bp −$8	12.0 bp −$120	doesn't fit	doesn't fit

META on 37 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-USDTshort	−0.0120%	8h	745.69	+0.003%	$334K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	744.93	−0.099%	$490K	$623K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.14	−0.071%	$546K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.38	−0.039%	$25.9M	$191.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.71	+0.005%	$7.7M	$15.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.47	−0.027%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.04	−0.084%	$447K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.41	−0.035%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	744.66	−0.136%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.78	−0.119%	$12K	$438K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.24	−0.058%	$719	$7.6M	20x	as long as short
HTX META-USDT	0.0000%	8h	745.46	−0.028%	$108K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.29	−0.051%	$2.0M	$8K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0019%	1h	745.05	−0.083%	$36K	$269K	10x	as long as short
Lighter RH META	+0.0032%	1h	745.51	−0.021%	$809K	$2.8M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.97	−0.094%	$111K	$324K	10x	as long as short
QFEX META-USD	+0.0041%	1h	745.40	−0.036%	$2.2M	$14.1M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.80	+0.017%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.48	−0.025%	$179K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.48	−0.025%	$567K	$609K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.31	−0.048%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.75	−0.123%	$719K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	745.22	−0.060%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	745.93	+0.035%	$51K	$91K	10x	as long as short
Nado META-PERP	+0.0085%	1h	744.95	−0.097%	$479K	$559K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	744.97	−0.094%	$642K	$7.8M	10x	as long as short
Pacifica META	+0.0100%	1h	744.89	−0.104%	$608	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.25	−0.056%	$1.6M	$800K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.70	−0.264%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.60	−0.009%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.45	−0.030%	$268	—	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	745.61	−0.008%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.33	+0.089%	$176K	$52K	30x	as long as short
Lighter META	+0.0288%	1h	745.67	0.000%	$1.2M	$2.6M	20x	as long as short
tradeXYZ xyz:METAlong	+0.0310%	1h	745.67	long leg	$86.4M	$134.7M	20x
edgeX METAUSDC	+0.0330%	4h	745.61	−0.008%	$63K	$346K	10x	as long as short
Phoenix META	+0.0791%	1h	745.86	+0.025%	$796K	$1.5M	20x	as long as short