Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.060%

Price spread now: Arcus against Bitget−0.052%50s7-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—prices read too far apart to compare

costs, in and out, $10k−$380.378% of the position

Long on Bitget Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.136%+$14 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now −0.052%, 7d avg −0.029%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.023% cheaper against Bitget than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of −0.029%). If the spread goes back, that is −$2 on $10k: about 46 hours of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.136% in total) that is about 15 hours. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget METAUSDT	743.01	0	get 0.0000% / 8h	2h 30m	$5.6M	$12.1M	100x
Short	Arcus META-USD	742.62	0.0040	get 0.0005% / 1h	30m 44s	$110K	$332K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bitget. 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 BitgetbpFee ArcusbpOrdersPrice spread, now −0.052%Rate

Funding earned: $8.46
Price spread: −0.052% → −0.029%: −$2.32
Slippage, 4 orders: −$21.28
Fee Bitget: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$31.64
Costs to cover: 0.378%
Break-even: 33.2 days

Slippage from Bitget: live order book, 3 min ago; Arcus: live order book, 18 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 Bitget live order book, 3 min ago	0.54 bp	10.4 bp −$10	20.7 bp −$207	46.5 bp −$4,650	doesn't fit
Sell Arcus live order book, 18 min ago	2.75 bp	10.7 bp −$11	13.8 bp −$138	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
Deribit META_USDC-PERPETUAL	−0.0141%	1h	742.08	−0.125%	$31K	$264K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	742.71	−0.040%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.76	+0.101%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.74	−0.037%	$544K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.91	−0.014%	$28.0M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.82	−0.026%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.78	−0.031%	$6.0M	$12.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.35	−0.089%	$439K	$5.9M	100x	as long as short
Bitget METAUSDTlong	0.0000%	8h	743.01	long leg	$5.6M	$12.1M	100x
Variational Omni META	0.0000%	8h	742.59	−0.057%	$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	743.02	+0.002%	$13K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.79	−0.030%	$825	$8.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.54	−0.063%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.65	−0.048%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.28	+0.036%	$768K	$2.9M	20x	as long as short
Nado META-PERP	+0.0038%	1h	742.50	−0.069%	$480K	$557K	20x	as long as short
Arcus META-USDshort	+0.0040%	1h	742.62	−0.052%	$110K	$332K	10x
Vest META-USD-PERP	+0.0046%	1h	743.19	+0.024%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	742.64	−0.050%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.61	−0.054%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.43	−0.078%	$584K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.68	−0.044%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.18	−0.112%	$729K	$4.8M	10x	as long as short
Paradex META-USD-PERP	+0.0079%	8h	742.61	−0.054%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	743.45	+0.060%	$51K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.03	+0.003%	$1.6M	$641K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.46	−0.074%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.61	−0.054%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.52	−0.066%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	742.03	−0.132%	$659K	$7.7M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.90	+0.389%	$172K	$46K	30x	as long as short
Lighter META	+0.0336%	1h	743.34	+0.044%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0368%	1h	743.18	+0.023%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0448%	1h	743.22	+0.028%	$74.3M	$124.6M	20x	as long as short
Phoenix META	+0.0685%	1h	744.26	+0.168%	$795K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0917%	4h	743.12	+0.015%	$62K	$340K	10x	as long as short