Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.056%

Price spread now: OKX against Arcus+0.104%7-day average +0.021% · 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−$30as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Arcus Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.131%−$13 on $10k

Price spread, last 4 days (all we have)−0.280%−$28 · spread now +0.104%, 7d avg +0.021%

Together, before fees−0.411%−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.083% dearer against Arcus than usual: you sell high and buy low (spread +0.104% now, against its 7-day average of +0.021%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.9 days. At the pace of the last 4 days (−0.131% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus META-USD	742.22	0.0040	pay 0.0005% / 1h	3m 30s	$110K	$330K	10x
Short	OKX META-USDT-SWAP	742.99	0	get 0.0000% / 8h	5h 03m	$6.0M	$13.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.104%Rate

Funding earned: −$8.46
Price spread: +0.104% → +0.021%: $8.31
Slippage, 4 orders: −$24.3
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$38.95
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from Arcus: live order book, 60 min ago; OKX: live order book, 5 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, 60 min ago	3.17 bp	6.6 bp −$7	11.5 bp −$115	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	0.20 bp	8.2 bp −$8	18.8 bp −$188	doesn't fit	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	743.01	+0.106%	$330K	$1.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0114%	1h	742.28	+0.008%	$31K	$245K	10x	as long as short
Nado META-PERP	−0.0030%	1h	742.59	+0.050%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.44	+0.030%	$467K	$550K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.60	+0.051%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.90	+0.092%	$27.4M	$179.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.74	+0.070%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	742.99	+0.104%	$6.0M	$13.4M	20x
Gate META_USDT	0.0000%	8h	742.59	+0.050%	$362K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.88	+0.089%	$5.5M	$11.5M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	742.77	+0.074%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	742.91	+0.093%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.79	+0.077%	$983	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.48	+0.035%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.77	+0.074%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.99	+0.104%	$768K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	742.67	+0.061%	$2.1M	$13.6M	10x	as long as short
Arcus META-USDlong	+0.0040%	1h	742.22	long leg	$110K	$330K	10x
Vest META-USD-PERP	+0.0046%	1h	743.06	+0.113%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.06	+0.113%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.71	+0.066%	$560K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.83	+0.082%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.16	−0.008%	$721K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	742.68	+0.062%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	743.08	+0.116%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.46	+0.032%	$613K	$7.2M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.77	+0.074%	$1.6M	$528K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.51	+0.039%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.79	+0.077%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.53	+0.042%	$267	—	10x	as long as short
edgeX METAUSDC	+0.0188%	4h	742.88	+0.089%	$62K	$337K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.07	−0.020%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	742.91	+0.093%	$33K	$105	20x	as long as short
Lighter META	+0.0256%	1h	742.88	+0.089%	$862K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0329%	1h	742.89	+0.090%	$69.4M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	743.64	+0.191%	$596K	$1.1M	20x	as long as short