Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h +0.103%

Price spread now: Extended against Bitget−0.039%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$300.296% of the position

Long on Bitget Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.150%+$15 on $10k

Price spread, last 7 days−0.340%−$34 · spread now −0.039%, 7d avg −0.021%

Together, before fees−0.189%+ Points / potential airdropExtended: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.150%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget METAUSDT	745.52	0.0074	pay 0.0074% / 8h	2h 48m	$5.5M	$11.9M	100x
Short	Extended META_24_5-USD	745.23	0	get 0.0000% / 1h	48m 47s	$547K	$2.7M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bitget. 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 BitgetbpFee ExtendedbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$15.54
Price spread: −0.039% → −0.021%: −$1.81
Slippage, 4 orders: −$12.63
Fee Bitget: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$46.98
Costs to cover: 0.296%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Extended: 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 Bitget live order book, 5 min ago	0.47 bp	8.4 bp −$8	19.7 bp −$197	42.9 bp −$4,289	doesn't fit
Sell Extended live order book, 5 min ago	0.54 bp	5.5 bp −$5	31.4 bp −$314	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	745.42	−0.013%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.36	+0.112%	$492K	$577K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	745.23	−0.039%	$547K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	745.33	−0.026%	$28.3M	$181.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.32	−0.027%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.47	−0.007%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.77	−0.101%	$429K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	745.99	+0.063%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.12	+0.080%	$12K	$448K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.63	+0.015%	$775	$8.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.09	−0.058%	$31K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.24	−0.038%	$106K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.06	+0.072%	$2.0M	$8K	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.58	+0.008%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.54	+0.003%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.19	−0.044%	$2.2M	$13.8M	10x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.10	−0.056%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.32	−0.027%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.07	−0.060%	$759K	$4.5M	10x	as long as short
Nado META-PERP	+0.0058%	1h	744.98	−0.072%	$482K	$557K	20x	as long as short
Lighter RH META	+0.0064%	1h	745.58	+0.008%	$768K	$2.9M	20x	as long as short
Paradex META-USD-PERP	+0.0074%	8h	745.09	−0.057%	—	—	5x	as long as short
Bitget METAUSDTlong	+0.0074%	8h	745.52	long leg	$5.5M	$11.9M	100x
Aftermath Perps METAUSD	+0.0087%	1h	745.98	+0.061%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.46	−0.008%	$1.6M	$633K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.03	−0.066%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.36	−0.021%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.24	−0.038%	$268	—	10x	as long as short
Popdex METAUSDT	+0.0120%	1h	745.43	−0.012%	$179K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	+0.119%	$671K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.43	+0.390%	$173K	$46K	30x	as long as short
Lighter META	+0.0368%	1h	745.60	+0.011%	$983K	$2.5M	20x	as long as short
Hotstuff META-PERP	+0.0472%	1h	745.92	+0.054%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0523%	1h	745.61	+0.012%	$72.3M	$122.7M	20x	as long as short
edgeX METAUSDC	+0.0524%	4h	745.99	+0.063%	$62K	$339K	10x	as long as short
Phoenix META	+0.0685%	1h	746.70	+0.158%	$797K	$1.4M	20x	as long as short