Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0449%/8h= −49.1% APRnext payment −$0.56 per $10,000 · paid last 24h —

Price spread now: Pacifica against tradeXYZ−0.098%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on tradeXYZ Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 1 hours (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdroptradeXYZ: Active · Pacifica: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Pacifica is 0.098% cheaper against tradeXYZ than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:META	745.29	0.0549	pay 0.0069% / 1h	43m 56s	$80.8M	$129.6M	20x
Short	Pacifica META	744.56	0.0100	get 0.0013% / 1h	43m 56s	$13	$106	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.098%Rate

Funding earned: −$94.23
Price spread: −0.098% → 0.000%: −$9.79
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$130.02
Costs to cover: 0.260%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 5 min ago; Pacifica: no order-book sample. Net counts fees only.

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, 5 min ago	0.81 bp	10.2 bp −$10	12.1 bp −$121	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-USDT	−0.0120%	8h	744.46	−0.111%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.51	+0.030%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.65	−0.086%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.85	−0.059%	$25.2M	$188.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.61	−0.091%	$7.5M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.73	−0.075%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.97	−0.177%	$465K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.77	−0.070%	$5.5M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	744.45	−0.113%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.56	−0.098%	$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	744.65	−0.086%	$752	$8.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.17	−0.150%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.39	−0.121%	$107K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.72	−0.076%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.34	−0.127%	$2.2M	$13.9M	10x	as long as short
Arcus META-USD	+0.0040%	1h	744.14	−0.154%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.84	−0.060%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.15	−0.153%	$564K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.61	−0.091%	$25K	$3K	10x	as long as short
Nado META-PERP	+0.0050%	1h	743.95	−0.180%	$479K	$560K	20x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.90	−0.187%	$728K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	744.44	−0.114%	—	—	5x	as long as short
Lighter RH META	+0.0064%	1h	744.98	−0.042%	$788K	$3.1M	20x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.29	0.000%	$47K	$88K	10x	as long as short
Popdex METAUSDT	+0.0088%	1h	744.58	−0.095%	$177K	$203K	20x	as long as short
Pacifica METAshort	+0.0100%	1h	744.56	−0.098%	$13	$106	10x
KuCoin METAUSDTM	+0.0100%	8h	744.68	−0.082%	$1.6M	$712K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.39	−0.255%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.59	−0.094%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.42	−0.117%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.11	−0.158%	$647K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.51	+0.164%	$172K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0424%	1h	744.96	−0.044%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0484%	4h	744.08	−0.163%	$62K	$345K	10x	as long as short
Lighter META	+0.0496%	1h	745.31	+0.003%	$1.1M	$2.9M	20x	as long as short
tradeXYZ xyz:METAlong	+0.0549%	1h	745.29	long leg	$80.8M	$129.6M	20x
Phoenix META	+0.0750%	1h	745.49	+0.027%	$796K	$1.5M	20x	as long as short