Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0909%/8h= +99.5% APRpaid last 24h +0.034%

Price spread now: edgeX against Arcus+0.027%7-day average +0.020% · 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−$38as in the Price arb table

costs, in and out, $10k−$380.385% of the position

Long on Arcus Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.299%+$30 on $10k

Price spread, last 4 days (all we have)−0.066%−$7 · spread now +0.027%, 7d avg +0.020%

Together, before fees+0.233%+ Points / potential airdropedgeX: Active · farm board+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: +$27 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.299% in total (about 31.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus META-USD	739.78	0.0040	pay 0.0005% / 1h	17m 13s	$110K	$330K	10x
Short	edgeX METAUSDC	739.98	0.0949	get 0.0474% / 4h	2h 17m	$62K	$336K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.027%Rate

Funding earned: $190.81
Price spread: +0.027% → +0.020%: $0.63
Slippage, 4 orders: −$25
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $152.94
Costs to cover: 0.385%
Break-even: 1.4 days

Slippage from Arcus: live order book, 51 min ago; edgeX: live order book, 51 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, 51 min ago	2.84 bp	6.5 bp −$7	7.2 bp −$72	doesn't fit	doesn't fit
Sell edgeX live order book, 51 min ago	5.13 bp	9.8 bp −$10	11.3 bp −$113	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0121%	1h	739.94	+0.021%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.66	+0.119%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.05	+0.036%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.24	+0.062%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.99	+0.028%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.25	+0.064%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.97	+0.026%	$352K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.28	+0.068%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.21	+0.059%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.16	+0.051%	$12K	$433K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.06	+0.038%	$1K	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.60	−0.024%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.09	+0.042%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.79	+0.137%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.08	+0.041%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.49	+0.096%	$750K	$3.0M	20x	as long as short
Arcus META-USDlong	+0.0040%	1h	739.78	long leg	$110K	$330K	10x
Vest META-USD-PERP	+0.0046%	1h	740.39	+0.082%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.19	+0.055%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.95	+0.023%	$557K	$776K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.22	+0.059%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.51	−0.036%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	740.00	+0.030%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	740.89	+0.149%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.25	+0.064%	$1.6M	$485K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.74	−0.005%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.10	+0.043%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.07	+0.039%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.119%	$609K	$7.2M	10x	as long as short
Lighter META	+0.0136%	1h	740.41	+0.085%	$860K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0136%	1h	740.28	+0.068%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.42	+0.357%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0246%	1h	740.28	+0.068%	$68.4M	$120.0M	20x	as long as short
Phoenix META	+0.0313%	1h	740.85	+0.145%	$434K	$1.1M	20x	as long as short
edgeX METAUSDCshort	+0.0949%	4h	739.98	+0.027%	$62K	$336K	10x