META

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0246%/8h= −27.0% APRnext payment −$0.31 per $10,000 · paid last 24h −0.007%

Price spread now: Arcus against tradeXYZ−0.051%7-day average −0.007% · 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−$33as in the Price arb table

costs, in and out, $10k−$290.287% of the position

Long on tradeXYZ Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.141%+$14 · spread now −0.051%, 7d avg −0.007%

Together, before fees+0.145%+ Points / potential airdroptradeXYZ: Active · farm board+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Arcus is 0.044% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.007%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.004% in total (about 0.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.31 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:META	741.55	0.0287	pay 0.0036% / 1h	41m 25s	$86.1M	$135.5M	20x
Short	Arcus META-USD	741.17	0.0040	get 0.0005% / 1h	41m 25s	$111K	$284K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against tradeXYZ. 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 tradeXYZbpFee ArcusbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$51.76
Price spread: −0.051% → −0.007%: −$4.43
Slippage, 4 orders: −$6.25
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$84.94
Costs to cover: 0.287%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 11 min ago; Arcus: 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 tradeXYZ live order book, 11 min ago	0.34 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 5 min ago	2.09 bp	4.6 bp −$5	9.1 bp −$91	18.0 bp −$1,803	doesn't fit

META on 37 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	740.70	−0.115%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	741.19	−0.049%	$338K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.00	−0.074%	$492K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.25	−0.041%	$545K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.49	−0.008%	$25.8M	$192.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.31	−0.032%	$7.5M	$16.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.65	+0.013%	$6.0M	$13.0M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.19	−0.049%	$457K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.54	−0.001%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.35	−0.162%	$2.5M	$3.0M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	741.02	−0.072%	$12K	$433K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.00	−0.074%	$1K	$7.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.58	−0.131%	$36K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.76	−0.107%	$107K	$299K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.80	+0.034%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.42	−0.018%	$871K	$2.8M	20x	as long as short
QFEX META-USD	+0.0038%	1h	741.39	−0.022%	$2.2M	$14.0M	10x	as long as short
Arcus META-USDshort	+0.0040%	1h	741.17	−0.051%	$111K	$284K	10x
Vest META-USD-PERP	+0.0046%	1h	741.54	−0.001%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.22	−0.045%	$559K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.89	−0.089%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.85	−0.094%	$721K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	741.04	−0.069%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.14	−0.190%	$648K	$7.6M	10x	as long as short
Aftermath Perps METAUSD	+0.0072%	1h	741.09	−0.062%	$53K	$86K	10x	as long as short
Popdex METAUSDT	+0.0080%	1h	741.64	+0.012%	$178K	$201K	20x	as long as short
Pacifica META	+0.0100%	1h	740.35	−0.161%	$604	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.25	−0.040%	$1.6M	$885K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.00	−0.209%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.48	−0.009%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.17	−0.051%	$267	—	10x	as long as short
Nado META-PERP	+0.0108%	1h	741.11	−0.060%	$475K	$552K	20x	as long as short
edgeX METAUSDC	+0.0123%	4h	740.59	−0.129%	$62K	$350K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.75	+0.297%	$168K	$61K	30x	as long as short
tradeXYZ xyz:METAlong	+0.0287%	1h	741.55	long leg	$86.1M	$135.5M	20x
Lighter META	+0.0344%	1h	741.44	−0.015%	$1.2M	$2.7M	20x	as long as short
Phoenix META	+0.0613%	1h	741.71	+0.022%	$792K	$1.5M	20x	as long as short