Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0367%/8h= −40.2% APRpaid last 24h −0.041%

Price spread now: Arcus against edgeX−0.059%54s7-day average −0.022% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.403% of the position

Long on edgeX Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.309%−$31 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.059%, 7d avg −0.022%

Together, before fees−0.252%+ Points / potential airdropedgeX: Active · farm board−$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Arcus is 0.036% cheaper against edgeX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.022%). Swap the legs. The two prices were read 54 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	edgeX METAUSDC	746.35	0.0407	pay 0.0204% / 4h	3h 16m	$62K	$338K	10x
Short	Arcus META-USD	745.91	0.0040	get 0.0005% / 1h	16m 21s	$111K	$330K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against edgeX. 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 edgeXbpFee ArcusbpOrdersPrice spread, now −0.059%Rate

Funding earned: −$77.1
Price spread: −0.059% → −0.022%: −$3.63
Slippage, 4 orders: −$26.81
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$121.04
Costs to cover: 0.403%
Break-even: never at this rate

Slippage from edgeX: live order book, 37 min ago; Arcus: live order book, 37 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 edgeX live order book, 37 min ago	5.17 bp	9.8 bp −$10	11.4 bp −$114	doesn't fit	doesn't fit
Sell Arcus live order book, 37 min ago	3.96 bp	11.7 bp −$12	14.4 bp −$144	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	746.35	0.000%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0003%	1h	746.08	−0.036%	$482K	$554K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.67	+0.043%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.32	−0.003%	$554K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.53	+0.024%	$28.5M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.47	+0.017%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.53	+0.025%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.95	−0.053%	$380K	$5.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.33	−0.002%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.41	+0.009%	$12K	$452K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.63	+0.038%	$722	$8.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.97	−0.050%	$31K	$247K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.07	−0.037%	$106K	$303K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.56	+0.029%	$2.0M	$8K	10x	as long as short
Bitget METAUSDT	+0.0025%	8h	746.48	+0.018%	$5.5M	$11.8M	100x	as long as short
Lighter RH META	+0.0032%	1h	746.77	+0.057%	$783K	$2.9M	20x	as long as short
Arcus META-USDshort	+0.0040%	1h	745.91	−0.059%	$111K	$330K	10x
Vest META-USD-PERP	+0.0046%	1h	746.55	+0.027%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.04	−0.041%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.35	0.000%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.39	−0.128%	$787K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	746.43	+0.011%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	746.44	+0.013%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.63	+0.037%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0088%	1h	746.55	+0.027%	$180K	$200K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.57	+0.030%	$1.6M	$618K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.41	−0.126%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.33	−0.002%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.32	−0.004%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.72	−0.084%	$638K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.48	+0.286%	$173K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	746.42	+0.010%	$33K	$105	20x	as long as short
Lighter META	+0.0272%	1h	746.79	+0.059%	$867K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0317%	1h	746.49	+0.019%	$70.9M	$121.2M	20x	as long as short
edgeX METAUSDClong	+0.0407%	4h	746.35	long leg	$62K	$338K	10x
Phoenix META	+0.0633%	1h	747.26	+0.122%	$798K	$1.4M	20x	as long as short