Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0678%/8h= −74.3% APRpaid last 24h −0.033%

Price spread now: Extended against edgeX+0.002%7-day average −0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.440%−$44 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.002%, 7d avg −0.017%

Together, before fees−0.446%+ Points / potential airdropedgeX: Active · Extended: Active · farm board−$45 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: −$20 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.440% in total (about -22.9% 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	edgeX METAUSDC	744.71	0.0678	pay 0.0339% / 4h	1h 16m	$62K	$344K	10x
Short	Extended META_24_5-USD	744.72	0	get 0.0000% / 1h	16m 46s	$548K	$1.8M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against edgeX. 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 edgeXbpFee ExtendedbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$142.43
Price spread: +0.002% → −0.017%: $1.91
Slippage, 4 orders: −$16.81
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$171.32
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from edgeX: live order book, 26 min ago; Extended: live order book, 2 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 edgeX live order book, 26 min ago	5.17 bp	9.8 bp −$10	11.3 bp −$113	doesn't fit	doesn't fit
Sell Extended live order book, 2 min ago	0.47 bp	5.5 bp −$6	39.6 bp −$396	doesn't fit	doesn't fit

META on 37 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	744.83	+0.016%	$332K	$1.1M	20x	as long as short
Nado META-PERP	−0.0040%	1h	744.68	−0.004%	$480K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.31	+0.081%	$479K	$593K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	744.72	+0.002%	$548K	$1.8M	17x
Binance METAUSDT	0.0000%	8h	744.91	+0.027%	$25.0M	$188.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.93	+0.029%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.79	+0.011%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.49	−0.030%	$462K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.98	+0.036%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.80	+0.012%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.86	+0.020%	$13K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.81	+0.013%	$873	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.39	−0.043%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.90	+0.025%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.85	+0.019%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.74	+0.004%	$2.2M	$13.8M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.29	+0.078%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.62	−0.012%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.55	+0.113%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.84	+0.017%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.44	−0.036%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.77	+0.008%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.41	−0.040%	$685K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	744.88	+0.022%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.77	+0.142%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.83	+0.016%	$1.6M	$689K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.29	−0.057%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.82	+0.015%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.69	−0.003%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.73	+0.003%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.34	+0.353%	$172K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	745.50	+0.106%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0376%	1h	745.41	+0.094%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0489%	1h	745.56	+0.114%	$78.0M	$127.7M	20x	as long as short
edgeX METAUSDClong	+0.0678%	4h	744.71	long leg	$62K	$344K	10x
Phoenix META	+0.0739%	1h	746.42	+0.229%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	745.07	+0.048%	$16	$103	10x	as long as short