Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0205%/8h= −22.5% APRpaid last 24h −0.044%

Price spread now: BloFin against Aftermath Perps−0.117%49s7-day average — · you buy dearer than you sell

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

Long on Aftermath Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and BloFin is 0.117% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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	Aftermath Perps METAUSD	746.39	0.0085	pay 0.0011% / 1h	44m 01s	$52K	$81K	10x
Short	BloFin META-USDT	745.51	−0.0120	pay 0.0120% / 8h	1h 44m	$334K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Aftermath Perps. 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 Aftermath PerpsbpFee BloFinbpOrdersPrice spread, now −0.117%Rate

Funding earned: −$43.09
Price spread: −0.117% → 0.000%: −$11.74
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$75.83
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; BloFin: live order book, 3 min ago. 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell BloFin live order book, 3 min ago	0.13 bp	6.3 bp −$6	10.2 bp −$102	doesn't fit	doesn't fit

Aftermath Perps: 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 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-USDTshort	−0.0120%	8h	745.51	−0.117%	$334K	$1.1M	20x
Nado META-PERP	−0.0022%	1h	745.05	−0.179%	$482K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.50	−0.118%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.23	−0.155%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.38	−0.135%	$25.3M	$187.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.29	−0.147%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.54	−0.113%	$6.1M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.81	−0.211%	$457K	$6.1M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.36	−0.137%	$5.5M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	745.37	−0.136%	$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	745.59	−0.107%	$13K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.39	−0.133%	$552	$8.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	745.16	−0.164%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.95	−0.058%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.24	−0.154%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0040%	1h	745.71	−0.091%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.11	−0.171%	$109K	$333K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.69	−0.093%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.37	−0.136%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.99	−0.187%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.36	−0.137%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.94	−0.194%	$711K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	745.35	−0.139%	—	—	5x	as long as short
Aftermath Perps METAUSDlong	+0.0085%	1h	746.39	long leg	$52K	$81K	10x
KuCoin METAUSDTM	+0.0100%	8h	745.48	−0.121%	$1.6M	$671K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.89	−0.200%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.48	−0.121%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.28	−0.148%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.43	−0.128%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.64	+0.302%	$173K	$46K	30x	as long as short
Deribit META_USDC-PERPETUAL	+0.0247%	1h	745.32	−0.143%	$34K	$271K	10x	as long as short
edgeX METAUSDC	+0.0385%	4h	745.39	−0.133%	$62K	$344K	10x	as long as short
Lighter META	+0.0392%	1h	745.87	−0.069%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0448%	1h	745.78	−0.081%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0548%	1h	745.71	−0.091%	$76.9M	$127.1M	20x	as long as short
Phoenix META	+0.0739%	1h	747.27	+0.118%	$798K	$1.5M	20x	as long as short