Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.033%

Price spread now: Arcus against Binance−0.107%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on Binance Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.184%+$18 on $10k

Price spread, last 4 days (all we have)+0.300%+$30 · spread now −0.107%, 7d avg −0.029%

Together, before fees+0.484%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.078% cheaper against Binance than usual: you would sell low and buy high (spread −0.107% now, against its 7-day average of −0.029%). If the spread goes back, that is −$8 on $10k: about 6.5 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.184% in total) that is about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance METAUSDT	745.19	0	get 0.0000% / 8h	3h 45m	$28.4M	$183.0M	20x
Short	Arcus META-USD	744.39	0.0040	get 0.0005% / 1h	45m 31s	$111K	$330K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Binance. 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 BinancebpFee ArcusbpOrdersPrice spread, now −0.107%Rate

Funding earned: $8.46
Price spread: −0.107% → −0.029%: −$7.82
Slippage, 4 orders: −$19.44
Fee Binance: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$33.31
Costs to cover: 0.339%
Break-even: 34.6 days

Slippage from Binance: live order book, 13 min ago; Arcus: live order book, 8 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 Binance live order book, 13 min ago	0.20 bp	6.7 bp −$7	15.6 bp −$156	49.5 bp −$4,946	doesn't fit
Sell Arcus live order book, 8 min ago	3.96 bp	11.7 bp −$12	14.4 bp −$144	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	745.02	−0.023%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0017%	1h	744.72	−0.063%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.74	−0.060%	$469K	$554K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.96	−0.030%	$550K	$2.7M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	745.19	long leg	$28.4M	$183.0M	20x
Bybit METAUSDT	0.0000%	8h	744.98	−0.028%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.15	−0.005%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.45	−0.099%	$364K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.16	−0.004%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.99	−0.026%	$2.4M	$3.2M	—	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	743.99	−0.161%	$12K	$450K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.94	−0.034%	$702	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.57	−0.083%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.00	−0.025%	$106K	$302K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.07	−0.016%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	745.41	+0.030%	$782K	$2.9M	20x	as long as short
Arcus META-USDshort	+0.0040%	1h	744.39	−0.107%	$111K	$330K	10x
Vest META-USD-PERP	+0.0046%	1h	745.16	−0.004%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.16	−0.004%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.75	−0.059%	$586K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.96	−0.031%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.20	−0.133%	$801K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	744.91	−0.038%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.11	−0.010%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0096%	8h	744.99	−0.027%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.81	−0.051%	$1.6M	$602K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.16	−0.138%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.16	−0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.98	−0.028%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	744.02	−0.157%	$617K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.08	−0.149%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	745.22	+0.004%	$33K	$105	20x	as long as short
Lighter META	+0.0248%	1h	745.37	+0.024%	$864K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0333%	1h	745.33	+0.019%	$70.1M	$121.0M	20x	as long as short
Phoenix META	+0.0633%	1h	746.12	+0.125%	$768K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0979%	4h	744.81	−0.051%	$62K	$339K	10x	as long as short