Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.063%

Price spread now: Arcus against Gate+0.008%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−$56as in the Price arb table

costs, in and out, $10k−$550.545% of the position

Long on Gate Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.139%+$14 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now +0.008%, 7d avg +0.027%

Together, before fees+0.119%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	744.65	0	get 0.0000% / 8h	1h 11m	$463K	$6.2M	100x
Short	Arcus META-USD	744.71	0.0040	get 0.0005% / 1h	11m 29s	$112K	$339K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Gate. 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 GatebpFee ArcusbpOrdersPrice spread, now +0.008%Rate

Funding earned: $8.46
Price spread: +0.008% → +0.027%: −$1.88
Slippage, 4 orders: −$35
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$47.92
Costs to cover: 0.545%
Break-even: 46.7 days

Slippage from Gate: live order book, 2 min ago; Arcus: live order book, 32 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 Gate live order book, 2 min ago	4.70 bp	21.3 bp −$21	42.6 bp −$426	doesn't fit	doesn't fit
Sell Arcus live order book, 32 min ago	2.55 bp	11.0 bp −$11	14.0 bp −$140	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-USDT	−0.0120%	8h	744.71	+0.008%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0037%	1h	744.70	+0.007%	$480K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.28	+0.085%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.77	+0.016%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.99	+0.045%	$24.9M	$188.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.09	+0.059%	$7.4M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.02	+0.050%	$6.0M	$12.6M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	744.65	long leg	$463K	$6.2M	100x
Bitget METAUSDT	0.0000%	8h	744.96	+0.042%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.70	+0.007%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.96	+0.042%	$13K	$436K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.85	+0.027%	$929	$8.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.63	−0.003%	$34K	$274K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.76	+0.015%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.93	+0.038%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.75	+0.013%	$2.2M	$13.8M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.30	+0.087%	$789K	$3.1M	20x	as long as short
Arcus META-USDshort	+0.0040%	1h	744.71	+0.008%	$112K	$339K	10x
Vest META-USD-PERP	+0.0046%	1h	745.34	+0.093%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.03	+0.051%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.61	−0.005%	$578K	$572K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.93	+0.038%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.48	−0.023%	$689K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	744.89	+0.032%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.88	+0.165%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.98	+0.044%	$1.6M	$691K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.53	−0.016%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.95	+0.040%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.82	+0.023%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.73	+0.011%	$650K	$7.9M	10x	as long as short
edgeX METAUSDC	+0.0118%	4h	744.61	−0.006%	$62K	$342K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.34	+0.361%	$172K	$46K	30x	as long as short
Lighter META	+0.0368%	1h	745.55	+0.121%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0376%	1h	745.45	+0.107%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0488%	1h	745.51	+0.115%	$78.2M	$128.0M	20x	as long as short
Phoenix META	+0.0739%	1h	745.99	+0.180%	$796K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	745.14	+0.065%	$16	$103	10x	as long as short