Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.073%

Price spread now: Extended against HTX−0.033%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on HTX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.155%+$15 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now −0.033%, 7d avg −0.008%

Together, before fees+0.105%+ Points / potential airdropExtended: Active · farm board+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.025% cheaper against HTX than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX META-USDT	744.90	0	get 0.0000% / 8h	1h 16m	$106K	$308K	30x
Short	Extended META_24_5-USD	744.66	0	get 0.0000% / 1h	16m 28s	$548K	$1.8M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against HTX. 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 HTXbpFee ExtendedbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → −0.008%: −$2.52
Slippage, 4 orders: −$14.24
Fee HTX: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$33.76
Costs to cover: 0.312%
Break-even: never at this rate

Slippage from HTX: live order book, 26 min ago; Extended: live order book, 2 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 HTX live order book, 26 min ago	2.68 bp	11.3 bp −$11	16.3 bp −$163	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	0.47 bp	5.5 bp −$6	39.6 bp −$396	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	744.83	−0.009%	$332K	$1.1M	20x	as long as short
Nado META-PERP	−0.0041%	1h	744.71	−0.026%	$480K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.39	+0.066%	$479K	$593K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	744.66	−0.033%	$548K	$1.8M	17x
Binance METAUSDT	0.0000%	8h	744.91	+0.001%	$25.0M	$188.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.95	+0.007%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.79	−0.015%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.50	−0.054%	$462K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.98	+0.011%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.80	−0.013%	$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	744.86	−0.006%	$13K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.81	−0.012%	$873	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.39	−0.068%	$34K	$275K	10x	as long as short
HTX META-USDTlong	0.0000%	8h	744.90	long leg	$106K	$308K	30x
Phemex METAUSDT	0.0000%	4h	744.85	−0.007%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.76	−0.019%	$2.2M	$13.8M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.34	+0.059%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.64	−0.035%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.55	+0.087%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.83	−0.009%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.60	−0.040%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.77	−0.017%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.35	−0.074%	$685K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	744.89	−0.001%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.76	+0.115%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.84	−0.008%	$1.6M	$689K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.29	−0.082%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.82	−0.011%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.69	−0.029%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.73	−0.023%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.34	+0.328%	$172K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	745.50	+0.081%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0376%	1h	745.55	+0.087%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0488%	1h	745.54	+0.086%	$78.0M	$127.7M	20x	as long as short
edgeX METAUSDC	+0.0678%	4h	744.71	−0.025%	$62K	$344K	10x	as long as short
Phoenix META	+0.0739%	1h	746.42	+0.204%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	745.09	+0.026%	$16	$103	10x	as long as short