Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.157%

Price spread now: BloFin against Extended+0.023%94s7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

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

costs, in and out, $10k−$260.264% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.338%−$34 on $10k

Price spread, last 3 days (all we have)+0.092%+$9 · spread now +0.023%, 7d avg +0.039%

Together, before fees−0.246%+ Points / potential airdropExtended: Active · farm board−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. The two prices were read 94 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	Extended META_24_5-USD	740.17	0	get 0.0000% / 1h	57m 43s	$550K	$2.7M	17x
Short	BloFin META-USDT	740.34	−0.0120	pay 0.0120% / 8h	6h 57m	$326K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$25.2
Price spread: +0.023% → +0.039%: −$1.56
Slippage, 4 orders: −$9.38
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$53.14
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Extended: live order book, 1 min ago; BloFin: 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 Extended live order book, 1 min ago	0.68 bp	5.7 bp −$6	39.0 bp −$390	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.14 bp	6.6 bp −$7	9.7 bp −$97	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
Nado META-PERP	−0.0204%	1h	740.38	+0.029%	$490K	$527K	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0155%	1h	740.00	−0.022%	$30K	$246K	10x	as long as short
BloFin META-USDTshort	−0.0120%	8h	740.34	+0.023%	$326K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	740.48	+0.042%	$466K	$549K	20x	as long as short
Extended META_24_5-USDlong	0.0000%	1h	740.17	long leg	$550K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	740.45	+0.039%	$27.4M	$179.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.55	+0.052%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.25	+0.011%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.21	+0.006%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.45	+0.038%	$5.6M	$11.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.22	+0.007%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.46	+0.040%	$12K	$452K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.43	+0.036%	$801	$9.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.21	+0.006%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.56	+0.053%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.18	+0.002%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.70	+0.072%	$753K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.00	−0.022%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.83	+0.090%	—	$11K	25x	as long as short
Hotstuff META-PERP	+0.0048%	1h	740.59	+0.057%	$33K	$105	20x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.41	+0.033%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.18	+0.002%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.39	+0.030%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.86	−0.041%	$693K	$4.4M	10x	as long as short
Paradex META-USD-PERP	+0.0059%	8h	740.35	+0.025%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0067%	1h	741.00	+0.113%	$48K	$80K	10x	as long as short
Lighter META	+0.0080%	1h	740.60	+0.059%	$857K	$2.4M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.62	+0.061%	$1.6M	$456K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.26	+0.013%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.47	+0.041%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.22	+0.007%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.19	+0.003%	$610K	$7.4M	10x	as long as short
tradeXYZ xyz:META	+0.0157%	1h	740.61	+0.060%	$68.0M	$121.2M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.82	+0.359%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	741.06	+0.121%	$343K	$920K	20x	as long as short
edgeX METAUSDC	+0.0352%	4h	740.50	+0.045%	$62K	$336K	10x	as long as short