Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0694%/8h= +76.0% APRpaid last 24h +0.064%

Price spread now: tradeXYZ against BloFin+0.067%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on BloFin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.385%+$39 on $10k

Price spread, last 4 days (all we have)−0.186%−$19 · spread now +0.067%, 7d avg −0.037%

Together, before fees+0.199%+ Points / potential airdroptradeXYZ: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and tradeXYZ is 0.104% dearer against BloFin than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.037%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.385% in total (about 20.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin META-USDT	745.46	−0.0120	get 0.0120% / 8h	31m 00s	$332K	$1.1M	20x
Short	tradeXYZ xyz:META	745.96	0.0574	get 0.0072% / 1h	31m 00s	$81.7M	$130.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against BloFin. 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 BloFinbpFee tradeXYZbpOrdersPrice spread, now +0.067%Rate

Funding earned: $145.73
Price spread: +0.067% → −0.037%: $10.36
Slippage, 4 orders: −$4.56
Fee BloFin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $121.54
Costs to cover: 0.346%
Break-even: 1.2 days

Slippage from BloFin: live order book, 1 min ago; tradeXYZ: live order book, 9 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 BloFin live order book, 1 min ago	0.54 bp	7.8 bp −$8	10.6 bp −$106	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 9 min ago	0.54 bp	9.9 bp −$10	12.5 bp −$125	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-USDTlong	−0.0120%	8h	745.46	long leg	$332K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	745.12	−0.045%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.30	−0.021%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.50	+0.005%	$25.1M	$188.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.25	−0.028%	$7.5M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.43	−0.004%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.92	−0.072%	$469K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.46	0.000%	$5.5M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	745.45	−0.001%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.78	+0.042%	$12K	$436K	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	745.46	0.000%	$921	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.97	−0.066%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.20	−0.035%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.52	+0.008%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.48	+0.003%	$2.2M	$14.0M	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.16	−0.040%	$112K	$339K	10x	as long as short
Nado META-PERP	+0.0043%	1h	745.20	−0.035%	$480K	$560K	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.74	+0.038%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.29	−0.023%	$565K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.51	+0.007%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.03	−0.058%	$747K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	745.62	+0.022%	—	—	5x	as long as short
Lighter RH META	+0.0064%	1h	745.85	+0.052%	$790K	$3.1M	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.16	+0.094%	$48K	$90K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	745.75	+0.039%	$177K	$202K	20x	as long as short
Pacifica META	+0.0100%	1h	745.70	+0.032%	$25	$189	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.43	−0.004%	$1.6M	$718K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.62	−0.113%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.50	+0.005%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.49	+0.004%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.33	−0.017%	$645K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.69	+0.299%	$175K	$46K	30x	as long as short
Lighter META	+0.0472%	1h	745.98	+0.070%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0472%	1h	746.13	+0.090%	$33K	$105	20x	as long as short
tradeXYZ xyz:METAshort	+0.0574%	1h	745.96	+0.067%	$81.7M	$130.1M	20x
Phoenix META	+0.0750%	1h	746.81	+0.181%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0949%	4h	745.47	+0.002%	$62K	$345K	10x	as long as short