Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0343%/8h= +37.6% APRpaid last 24h +0.025%

Price spread now: tradeXYZ against Binance−0.028%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$330.334% of the position

Long on Binance Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.232%+$23 on $10k

Price spread, last 7 days−0.005%$0 · spread now −0.028%, 7d avg −0.049%

Together, before fees+0.227%+ Points / potential airdroptradeXYZ: Active · farm board+$23 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 0.020% dearer against Binance than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.049%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.232% in total (about 12.1% 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	Binance METAUSDT	746.46	0	get 0.0000% / 8h	3h 38m	$28.5M	$183.1M	20x
Short	tradeXYZ xyz:META	746.25	0.0343	get 0.0043% / 1h	38m 21s	$70.4M	$121.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.028%Rate

Funding earned: $72.02
Price spread: −0.028% → −0.049%: $2.05
Slippage, 4 orders: −$5.42
Fee Binance: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $40.65
Costs to cover: 0.334%
Break-even: 3.0 days

Slippage from Binance: live order book, 5 min ago; tradeXYZ: live order book, 11 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, 5 min ago	0.07 bp	7.2 bp −$7	16.3 bp −$163	47.3 bp −$4,725	doesn't fit
Sell tradeXYZ live order book, 11 min ago	0.27 bp	9.6 bp −$10	11.8 bp −$118	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	745.46	−0.134%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0023%	1h	745.71	−0.101%	$482K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.91	−0.073%	$470K	$555K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.04	−0.056%	$553K	$2.7M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	746.46	long leg	$28.5M	$183.1M	20x
Bybit METAUSDT	0.0000%	8h	746.47	+0.001%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.32	−0.019%	$6.0M	$13.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.93	−0.071%	$365K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.25	−0.028%	$5.5M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.02	−0.058%	$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	746.21	−0.034%	$12K	$453K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.22	−0.032%	$971	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.71	−0.100%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.01	−0.060%	$106K	$302K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.96	−0.067%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.47	+0.001%	$783K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.36	−0.147%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.21	−0.033%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.04	−0.056%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.01	−0.060%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.32	−0.153%	$786K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	746.14	−0.043%	$2.2M	$13.7M	10x	as long as short
Popdex METAUSDT	+0.0064%	1h	746.42	−0.005%	$180K	$199K	20x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	746.21	−0.033%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0093%	8h	746.12	−0.045%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.96	−0.067%	$1.6M	$608K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.30	−0.155%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.21	−0.033%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.13	−0.044%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.37	−0.146%	$618K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.99	−0.197%	$172K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	746.42	−0.005%	$866K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0256%	1h	746.21	−0.033%	$33K	$105	20x	as long as short
tradeXYZ xyz:METAshort	+0.0343%	1h	746.25	−0.028%	$70.4M	$121.1M	20x
edgeX METAUSDC	+0.0482%	4h	746.22	−0.033%	$62K	$337K	10x	as long as short
Phoenix META	+0.0633%	1h	746.93	+0.063%	$781K	$1.4M	20x	as long as short