Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.039%

Price spread now: Bybit against Arcus+0.028%7-day average +0.023% · 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−$36as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.115%−$12 on $10k

Price spread, last 4 days (all we have)−0.049%−$5 · spread now +0.028%, 7d avg +0.023%

Together, before fees−0.164%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.023%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus META-USD	745.33	0.0040	pay 0.0005% / 1h	0m 24s	$112K	$339K	10x
Short	Bybit METAUSDT	745.54	0	get 0.0000% / 8h	1h 00m	$7.4M	$15.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.028%Rate

Funding earned: −$8.46
Price spread: +0.028% → +0.023%: $0.48
Slippage, 4 orders: −$20.5
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$43.97
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Arcus: live order book, 43 min ago; Bybit: 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, 43 min ago	2.55 bp	8.0 bp −$8	13.3 bp −$133	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.54 bp	9.0 bp −$9	16.7 bp −$167	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	745.84	+0.068%	$332K	$1.1M	20x	as long as short
Nado META-PERP	−0.0026%	1h	745.22	−0.015%	$481K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.77	+0.059%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.46	+0.018%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.88	+0.074%	$24.9M	$188.0M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	745.54	+0.028%	$7.4M	$15.4M	100x
OKX META-USDT-SWAP	0.0000%	8h	745.60	+0.036%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.09	−0.032%	$463K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.70	+0.050%	$5.6M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	745.62	+0.040%	$2.4M	$3.1M	—	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	745.66	+0.044%	$12K	$436K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.64	+0.042%	$811	$8.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	745.59	+0.035%	$106K	$309K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.01	+0.091%	$2.0M	$8K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0005%	1h	745.32	−0.001%	$34K	$275K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.69	+0.048%	$2.2M	$13.8M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.92	+0.079%	$789K	$3.1M	20x	as long as short
Arcus META-USDlong	+0.0040%	1h	745.33	long leg	$112K	$339K	10x
Vest META-USD-PERP	+0.0046%	1h	746.27	+0.126%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.87	+0.072%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.72	+0.052%	$565K	$597K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.70	+0.050%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.05	−0.038%	$696K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	745.46	+0.018%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	746.34	+0.136%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.48	+0.020%	$1.6M	$702K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.02	−0.042%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.70	+0.050%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.53	+0.027%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.25	−0.011%	$649K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.19	+0.250%	$172K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0376%	1h	746.01	+0.091%	$33K	$105	20x	as long as short
Lighter META	+0.0392%	1h	746.18	+0.114%	$1.1M	$2.8M	20x	as long as short
tradeXYZ xyz:META	+0.0495%	1h	746.57	+0.166%	$78.8M	$128.3M	20x	as long as short
edgeX METAUSDC	+0.0528%	4h	745.48	+0.021%	$62K	$345K	10x	as long as short
Phoenix META	+0.0739%	1h	746.48	+0.154%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	745.36	+0.004%	$13	$106	10x	as long as short