Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.014%

Price spread now: Bybit against Aftermath Perps−0.051%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aftermath Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.051% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps METAUSD	743.57	0.0086	pay 0.0011% / 1h	30m 04s	$51K	$81K	10x
Short	Bybit METAUSDT	743.19	0	get 0.0000% / 8h	2h 30m	$7.3M	$15.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Aftermath Perps. 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 Aftermath PerpsbpFee BybitbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$18.05
Price spread: −0.051% → 0.000%: −$5.08
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$43.14
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	1.14 bp	7.5 bp −$8	16.4 bp −$164	doesn't fit	doesn't fit

Aftermath Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
BloFin META-USDT	−0.0120%	8h	742.71	−0.115%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.26	+0.093%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.13	−0.059%	$544K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.42	−0.020%	$28.0M	$182.6M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	743.19	−0.051%	$7.3M	$15.1M	100x
OKX META-USDT-SWAP	0.0000%	8h	743.53	−0.005%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.74	−0.111%	$439K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.67	+0.014%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	742.59	−0.132%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.02	−0.073%	$13K	$443K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	743.39	−0.024%	$824	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.87	−0.094%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.29	−0.037%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.16	−0.055%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.53	−0.005%	$768K	$2.9M	20x	as long as short
Nado META-PERP	+0.0034%	1h	742.70	−0.117%	$480K	$557K	20x	as long as short
Arcus META-USD	+0.0040%	1h	742.58	−0.133%	$110K	$332K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.43	−0.019%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.01	−0.075%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.16	−0.055%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.59	−0.132%	$584K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.02	−0.074%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.52	−0.141%	$729K	$4.8M	10x	as long as short
Paradex META-USD-PERP	+0.0079%	8h	742.86	−0.095%	—	—	5x	as long as short
Aftermath Perps METAUSDlong	+0.0086%	1h	743.57	long leg	$51K	$81K	10x
KuCoin METAUSDTM	+0.0100%	8h	743.27	−0.040%	$1.6M	$642K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.46	−0.149%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.23	−0.045%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.12	−0.061%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	742.03	−0.207%	$659K	$7.7M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.90	+0.314%	$172K	$46K	30x	as long as short
Lighter META	+0.0336%	1h	743.60	+0.004%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0368%	1h	743.18	−0.052%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0448%	1h	743.64	+0.010%	$74.4M	$124.7M	20x	as long as short
Phoenix META	+0.0685%	1h	744.26	+0.093%	$795K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0917%	4h	743.12	−0.060%	$62K	$340K	10x	as long as short