Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.060%

Price spread now: Bitget against Arcus+0.154%7-day average +0.029% · 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−$25as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on Arcus Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.136%−$14 on $10k

Price spread, last 4 days (all we have)−0.075%−$8 · spread now +0.154%, 7d avg +0.029%

Together, before fees−0.211%−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.124% dearer against Arcus than usual: you sell high and buy low (spread +0.154% now, against its 7-day average of +0.029%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 10 days. At the pace of the last 4 days (−0.136% in total) that is about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus META-USD	742.58	0.0040	pay 0.0005% / 1h	30m 13s	$110K	$332K	10x
Short	Bitget METAUSDT	743.72	0	get 0.0000% / 8h	2h 30m	$5.6M	$12.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Arcus. 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 ArcusbpFee BitgetbpOrdersPrice spread, now +0.154%Rate

Funding earned: −$8.46
Price spread: +0.154% → +0.029%: $12.42
Slippage, 4 orders: −$21.28
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$33.81
Costs to cover: 0.378%
Break-even: never at this rate

Slippage from Arcus: live order book, 18 min ago; Bitget: live order book, 3 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 Arcus live order book, 18 min ago	2.75 bp	9.6 bp −$10	13.2 bp −$132	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.54 bp	7.1 bp −$7	21.9 bp −$219	42.2 bp −$4,219	doesn't fit

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	+0.018%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.22	+0.221%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.13	+0.074%	$544K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.37	+0.106%	$28.0M	$182.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.08	+0.067%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.53	+0.128%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.71	+0.018%	$439K	$5.9M	100x	as long as short
Bitget METAUSDTshort	0.0000%	8h	743.72	+0.154%	$5.6M	$12.1M	100x
Variational Omni META	0.0000%	8h	742.59	+0.001%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.02	+0.060%	$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	+0.109%	$824	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.87	+0.039%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.29	+0.096%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.16	+0.078%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.53	+0.128%	$768K	$2.9M	20x	as long as short
Nado META-PERP	+0.0034%	1h	742.70	+0.016%	$480K	$557K	20x	as long as short
Arcus META-USDlong	+0.0040%	1h	742.58	long leg	$110K	$332K	10x
Vest META-USD-PERP	+0.0046%	1h	743.43	+0.114%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.01	+0.058%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.16	+0.078%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.59	+0.001%	$584K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.02	+0.059%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.52	−0.008%	$729K	$4.8M	10x	as long as short
Paradex META-USD-PERP	+0.0079%	8h	742.86	+0.038%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	743.57	+0.133%	$51K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.17	+0.079%	$1.6M	$641K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.46	−0.016%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.23	+0.088%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.12	+0.072%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	742.03	−0.074%	$659K	$7.7M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.90	+0.447%	$172K	$46K	30x	as long as short
Lighter META	+0.0336%	1h	743.60	+0.137%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0368%	1h	743.18	+0.081%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0448%	1h	743.58	+0.135%	$74.4M	$124.6M	20x	as long as short
Phoenix META	+0.0685%	1h	744.26	+0.226%	$795K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0917%	4h	743.12	+0.073%	$62K	$340K	10x	as long as short