Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0202%/8h= −22.1% APRpaid last 24h +0.064%

Price spread now: edgeX against tradeXYZ−0.116%86s7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs+$3as 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−$400.401% of the position

Long on tradeXYZ Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.434%+$43 on $10k

Price spread, last 4 days (all we have)+0.112%+$11 · spread now −0.116%, 7d avg +0.015%

Together, before fees+0.546%+ Points / potential airdroptradeXYZ: Active · edgeX: Active · farm board+$55 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and edgeX is 0.131% cheaper against tradeXYZ than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.015%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.434%, so the current rate has only just turned against you. The two prices were read 86 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	tradeXYZ xyz:META	744.19	0.0280	pay 0.0035% / 1h	34m 00s	$84.4M	$132.9M	20x
Short	edgeX METAUSDC	743.33	0.0079	get 0.0039% / 4h	3h 34m	$63K	$346K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$42.37
Price spread: −0.116% → +0.015%: −$13.14
Slippage, 4 orders: −$13.09
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$95.6
Costs to cover: 0.401%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 5 min ago; edgeX: live order book, 64 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, 5 min ago	0.54 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 64 min ago	5.50 bp	10.1 bp −$10	11.6 bp −$116	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	743.30	−0.120%	$334K	$1.1M	20x	as long as short
Nado META-PERP	−0.0017%	1h	743.80	−0.052%	$478K	$562K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.67	+0.065%	$488K	$603K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.84	−0.047%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.10	−0.013%	$25.8M	$191.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.08	−0.015%	$7.4M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.17	−0.003%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.65	−0.073%	$476K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.86	−0.044%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	743.29	−0.121%	$2.5M	$3.0M	—	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	743.50	−0.093%	$12K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.07	−0.016%	$1K	$7.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.49	−0.094%	$44K	$287K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.75	−0.059%	$108K	$301K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.96	−0.031%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.24	+0.007%	$794K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	744.01	−0.024%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.72	−0.063%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.23	+0.005%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.93	−0.035%	$180K	$204K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.69	−0.067%	$566K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.71	−0.064%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.49	−0.094%	$722K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	743.24	−0.128%	—	—	5x	as long as short
edgeX METAUSDCshort	+0.0079%	4h	743.33	−0.116%	$63K	$346K	10x
Aftermath Perps METAUSD	+0.0080%	1h	743.92	−0.037%	$51K	$93K	10x	as long as short
Pacifica META	+0.0100%	1h	743.01	−0.158%	$626	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.88	−0.042%	$1.6M	$764K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.58	−0.216%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.84	−0.047%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.60	−0.079%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	742.98	−0.163%	$635K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.70	+0.203%	$176K	$52K	30x	as long as short
Lighter META	+0.0280%	1h	744.45	+0.035%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:METAlong	+0.0280%	1h	744.19	long leg	$84.4M	$132.9M	20x
Hotstuff META-PERP	+0.0288%	1h	743.49	−0.094%	$33K	$105	20x	as long as short
Phoenix META	+0.0791%	1h	744.37	+0.024%	$795K	$1.5M	20x	as long as short