Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.063%

Price spread now: Gate against Arcus+0.016%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$540.537% of the position

Long on Arcus Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.138%−$14 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now +0.016%, 7d avg −0.027%

Together, before fees−0.142%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.043% dearer against Arcus than usual: you sell high and buy low (spread +0.016% now, against its 7-day average of −0.027%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 4 days (−0.138% in total) that is about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus META-USD	744.39	0.0040	pay 0.0005% / 1h	44m 52s	$111K	$330K	10x
Short	Gate META_USDT	744.51	0	get 0.0000% / 8h	3h 44m	$364K	$5.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Arcus. 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 ArcusbpFee GatebpOrdersPrice spread, now +0.016%Rate

Funding earned: −$8.46
Price spread: +0.016% → −0.027%: $4.27
Slippage, 4 orders: −$34.2
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$57.88
Costs to cover: 0.537%
Break-even: never at this rate

Slippage from Arcus: live order book, 9 min ago; Gate: live order book, 3 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 Arcus live order book, 9 min ago	3.96 bp	9.0 bp −$9	12.7 bp −$127	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	5.71 bp	17.3 bp −$17	44.4 bp −$444	doesn't fit	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	745.26	+0.117%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0017%	1h	744.72	+0.044%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.71	+0.044%	$469K	$554K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.97	+0.078%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.18	+0.107%	$28.4M	$183.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.94	+0.074%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.08	+0.093%	$6.0M	$13.6M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	744.51	+0.016%	$364K	$5.8M	100x
Bitget METAUSDT	0.0000%	8h	745.28	+0.120%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.99	+0.081%	$2.4M	$3.2M	—	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	743.99	−0.054%	$12K	$450K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.06	+0.090%	$781	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.71	+0.043%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.99	+0.081%	$106K	$302K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.17	+0.105%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	745.33	+0.126%	$782K	$2.9M	20x	as long as short
Arcus META-USDlong	+0.0040%	1h	744.39	long leg	$111K	$330K	10x
Vest META-USD-PERP	+0.0046%	1h	745.16	+0.103%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.16	+0.103%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.75	+0.048%	$586K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.07	+0.091%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.20	−0.026%	$801K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	744.91	+0.070%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	745.31	+0.124%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0096%	8h	744.99	+0.080%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.82	+0.058%	$1.6M	$602K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.16	−0.031%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.25	+0.116%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.02	+0.084%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	744.02	−0.050%	$617K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.08	−0.042%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	745.22	+0.112%	$33K	$105	20x	as long as short
Lighter META	+0.0248%	1h	745.41	+0.137%	$864K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0337%	1h	745.39	+0.134%	$70.1M	$121.0M	20x	as long as short
Phoenix META	+0.0633%	1h	746.12	+0.232%	$768K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0979%	4h	744.81	+0.057%	$62K	$339K	10x	as long as short