Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0887%/8h= −97.1% APRpaid last 24h −0.057%

Price spread now: Polymarket Perps against edgeX−0.025%64s7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as 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−$320.324% of the position

Long on edgeX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.370%−$37 on $10k

Price spread, last 3 days (all we have)−0.060%−$6 · spread now −0.025%, 7d avg −0.014%

Together, before fees−0.430%+ Points / potential airdropedgeX: Active · farm board−$43 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: −$27 a day on $10k at the current rate. The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.370% in total (about -19.3% 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	743.66	0.0937	pay 0.0468% / 4h	39m 43s	$62K	$333K	10x
Short	Polymarket Perps META-USD	743.48	0.0050	get 0.0006% / 1h	39m 43s	$543K	$841K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.025%Rate

Funding earned: −$186.2
Price spread: −0.025% → −0.014%: −$1.13
Slippage, 4 orders: −$15.43
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$219.76
Costs to cover: 0.324%
Break-even: never at this rate

Slippage from edgeX: live order book, 39 min ago; Polymarket Perps: live order book, 38 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, 39 min ago	5.13 bp	9.8 bp −$10	11.4 bp −$114	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 38 min ago	2.23 bp	6.7 bp −$7	8.2 bp −$82	9.6 bp −$964	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	743.40	−0.036%	$327K	$1.1M	20x	as long as short
Nado META-PERP	−0.0077%	1h	743.31	−0.048%	$392K	$329K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.50	−0.022%	$459K	$537K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.35	−0.043%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.43	−0.032%	$27.4M	$179.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.44	−0.030%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.57	−0.013%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.22	−0.060%	$345K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.45	−0.029%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	743.32	−0.046%	$2.3M	$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	743.70	+0.005%	$12K	$486K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.30	−0.049%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.11	−0.075%	$30K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.35	−0.042%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.60	−0.009%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	743.43	−0.032%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	743.70	+0.005%	$757K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.08	−0.079%	$110K	$472K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.89	+0.030%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.50	−0.022%	$178K	$209K	20x	as long as short
Polymarket Perps META-USDshort	+0.0050%	1h	743.48	−0.025%	$543K	$841K	10x
SoDEX META-USD	+0.0050%	1h	743.50	−0.022%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.00	−0.089%	$769K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	743.44	−0.031%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0062%	1h	744.20	+0.072%	$49K	$75K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	743.28	−0.052%	$610K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.41	−0.034%	$1.6M	$379K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.24	−0.057%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.68	+0.002%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.48	−0.025%	$268	—	10x	as long as short
Lighter META	+0.0128%	1h	743.67	+0.001%	$860K	$2.6M	20x	as long as short
Phoenix META	+0.0129%	1h	743.86	+0.026%	$292K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0136%	1h	743.77	+0.014%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.83	+0.291%	$170K	$46K	30x	as long as short
tradeXYZ xyz:META	+0.0223%	1h	743.66	−0.001%	$67.7M	$122.3M	20x	as long as short
edgeX METAUSDClong	+0.0937%	4h	743.66	long leg	$62K	$333K	10x