Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.137%

Price spread now: Extended against BloFin−0.003%54s7-day average −0.038% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.265% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.338%+$34 on $10k

Price spread, last 4 days (all we have)−0.175%−$17 · spread now −0.003%, 7d avg −0.038%

Together, before fees+0.164%+ Points / potential airdropExtended: Active · farm board+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Extended is 0.035% dearer against BloFin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.038%. The two prices were read 54 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	BloFin META-USDT	746.35	−0.0120	get 0.0120% / 8h	3h 16m	$330K	$1.1M	20x
Short	Extended META_24_5-USD	746.32	0	get 0.0000% / 1h	16m 10s	$554K	$2.7M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against BloFin. 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 BloFinbpFee ExtendedbpOrdersPrice spread, now −0.003%Rate

Funding earned: $25.2
Price spread: −0.003% → −0.038%: $3.49
Slippage, 4 orders: −$9.52
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $2.17
Costs to cover: 0.265%
Break-even: 6.4 days

Slippage from BloFin: live order book, 6 min ago; Extended: live order book, 3 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 BloFin live order book, 6 min ago	0.07 bp	8.7 bp −$9	14.0 bp −$140	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.27 bp	5.4 bp −$5	32.2 bp −$322	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-USDTlong	−0.0120%	8h	746.35	long leg	$330K	$1.1M	20x
Nado META-PERP	−0.0003%	1h	746.08	−0.036%	$482K	$554K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.67	+0.043%	$492K	$577K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	746.32	−0.003%	$554K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	746.53	+0.024%	$28.5M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.51	+0.021%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.52	+0.023%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.00	−0.047%	$380K	$5.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.33	−0.002%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.41	+0.008%	$12K	$452K	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	746.63	+0.038%	$722	$8.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.97	−0.051%	$31K	$247K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.18	−0.023%	$106K	$303K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.58	+0.031%	$2.0M	$8K	10x	as long as short
Bitget METAUSDT	+0.0025%	8h	746.48	+0.017%	$5.5M	$11.8M	100x	as long as short
Lighter RH META	+0.0032%	1h	746.55	+0.027%	$783K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.91	−0.059%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.55	+0.027%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.04	−0.042%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.49	+0.019%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.39	−0.129%	$787K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	746.43	+0.011%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	746.44	+0.012%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.63	+0.037%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0088%	1h	746.55	+0.027%	$180K	$200K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.54	+0.025%	$1.6M	$618K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.41	−0.126%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.33	−0.003%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.32	−0.005%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.72	−0.084%	$638K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.48	+0.285%	$173K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	746.42	+0.009%	$33K	$105	20x	as long as short
Lighter META	+0.0272%	1h	746.52	+0.023%	$867K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0319%	1h	746.70	+0.047%	$70.9M	$121.3M	20x	as long as short
edgeX METAUSDC	+0.0407%	4h	746.35	0.000%	$62K	$338K	10x	as long as short
Phoenix META	+0.0633%	1h	747.26	+0.122%	$798K	$1.4M	20x	as long as short