Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0348%/8h= +38.1% APRpaid last 24h +0.056%

Price spread now: tradeXYZ against Aster+0.119%7-day average −0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1441.438% of the position

Long on Aster Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.187%+$19 on $10k

Price spread, last 4 days (all we have)−0.187%−$19 · spread now +0.119%, 7d avg −0.096%

Together, before fees0.000%+ Points / potential airdropAster: Stage 5 · tradeXYZ: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and tradeXYZ is 0.215% dearer against Aster than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.096%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.187% in total (about 9.8% 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	Aster METAUSDT	747.19	0	get 0.0000% / 8h	3h 04m	$492K	$577K	20x
Short	tradeXYZ xyz:META	748.08	0.0348	get 0.0043% / 1h	4m 08s	$72.1M	$121.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Aster. 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 AsterbpFee tradeXYZbpOrdersPrice spread, now +0.119%Rate

Funding earned: $73.05
Price spread: +0.119% → −0.096%: $21.54
Slippage, 4 orders: −$117.77
Fee Aster: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$49.18
Costs to cover: 1.438%
Break-even: 11.7 days

Slippage from Aster: live order book, 48 min ago; tradeXYZ: live order book, 4 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 Aster live order book, 48 min ago	13.36 bp	97.1 bp −$97	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 4 min ago	0.60 bp	10.1 bp −$10	12.3 bp −$123	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	747.32	+0.018%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0002%	1h	747.02	−0.023%	$483K	$556K	20x	as long as short
Aster METAUSDTlong	0.0000%	8h	747.19	long leg	$492K	$577K	20x
Extended META_24_5-USD	0.0000%	1h	747.63	+0.059%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.36	+0.023%	$28.5M	$182.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.20	+0.002%	$7.5M	$14.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.24	+0.007%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	747.19	0.000%	$422K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	747.58	+0.053%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	748.03	+0.113%	$12K	$448K	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	747.74	+0.074%	$966	$8.7M	20x	as long as short
HTX META-USDT	0.0000%	8h	747.20	+0.002%	$107K	$304K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.54	+0.047%	$2.0M	$8K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0018%	1h	747.57	+0.051%	$31K	$252K	10x	as long as short
Lighter RH META	+0.0032%	1h	747.38	+0.026%	$770K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	747.20	+0.002%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.80	+0.082%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	747.48	+0.039%	$588K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	747.49	+0.040%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.55	−0.085%	$770K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	747.34	+0.020%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	747.20	+0.002%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	748.37	+0.158%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	747.49	+0.040%	$180K	$199K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	747.73	+0.073%	$1.6M	$626K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	747.07	−0.016%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.92	+0.098%	$1K	$24	10x	as long as short
Bitget METAUSDT	+0.0101%	8h	747.53	+0.046%	$5.5M	$12.0M	100x	as long as short
Aevo META-PERP	+0.0104%	1h	747.63	+0.060%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	747.31	+0.016%	$673K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.19	0.000%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	747.53	+0.046%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	747.37	+0.024%	$918K	$2.5M	20x	as long as short
tradeXYZ xyz:METAshort	+0.0348%	1h	748.08	+0.119%	$72.1M	$121.9M	20x
Phoenix META	+0.0633%	1h	749.25	+0.276%	$800K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0974%	4h	747.99	+0.108%	$62K	$338K	10x	as long as short