Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0060%/8h= +6.5% APRpaid last 24h −0.034%

Price spread now: Orderly against Arcus+0.047%7-day average — · you sell dearer than you buy

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

Long on Arcus Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and Orderly is 0.047% dearer against Arcus than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus META-USD	742.03	0.0040	pay 0.0005% / 1h	37m 53s	$110K	$330K	10x
Short	Orderly PERP_META_USDC_mythos	742.38	0.0100	get 0.0100% / 8h	4h 37m	$1K	$24	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.047%Rate

Funding earned: $12.54
Price spread: +0.047% → 0.000%: $4.72
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Orderly: 3 bp × 2 orders: −$6
Net: $6.76
Costs to cover: 0.105%
Break-even: 3.2 days

Slippage unknown: Arcus: live order book, 21 min ago; Orderly: no order-book sample. 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 Arcus live order book, 21 min ago	3.30 bp	8.7 bp −$9	14.0 bp −$140	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	742.32	+0.039%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0039%	1h	741.88	−0.020%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.35	+0.043%	$466K	$551K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.19	+0.022%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.42	+0.053%	$27.5M	$180.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.24	+0.028%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.29	+0.035%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.02	−0.001%	$364K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.37	+0.046%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.48	+0.060%	$2.4M	$3.1M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	742.51	+0.065%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.58	+0.074%	$861	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.68	−0.047%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.30	+0.036%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.37	+0.046%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.52	+0.066%	$768K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.38	+0.047%	$2.1M	$13.7M	10x	as long as short
Arcus META-USDlong	+0.0040%	1h	742.03	long leg	$110K	$330K	10x
Vest META-USD-PERP	+0.0046%	1h	742.49	+0.062%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.30	+0.036%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.10	+0.009%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.33	+0.040%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.69	−0.046%	$710K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	742.19	+0.021%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	743.15	+0.151%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.49	+0.062%	$1.6M	$539K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.86	−0.023%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythosshort	+0.0100%	8h	742.38	+0.047%	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	742.22	+0.026%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	742.02	−0.001%	$614K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0144%	1h	742.31	+0.038%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.47	+0.329%	$172K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	742.49	+0.062%	$858K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0273%	1h	742.41	+0.051%	$69.4M	$120.3M	20x	as long as short
edgeX METAUSDC	+0.0317%	4h	742.38	+0.047%	$62K	$335K	10x	as long as short
Phoenix META	+0.0591%	1h	743.35	+0.178%	$647K	$1.2M	20x	as long as short