Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.127%

Price spread now: Bybit against Extended+0.021%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.285% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.129%−$13 on $10k

Price spread, last 7 days+0.420%+$42 · spread now +0.021%, 7d avg +0.016%

Together, before fees+0.291%+ Points / potential airdropExtended: Active · farm board+$29 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended META_24_5-USD	740.58	0	get 0.0000% / 1h	3m 48s	$550K	$2.7M	17x
Short	Bybit METAUSDT	740.73	0	get 0.0000% / 8h	7h 03m	$7.5M	$14.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → +0.016%: $0.48
Slippage, 4 orders: −$12.46
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.98
Costs to cover: 0.285%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; Bybit: live order book, 5 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 Extended live order book, 5 min ago	0.54 bp	5.6 bp −$6	21.6 bp −$216	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	1.08 bp	7.9 bp −$8	17.7 bp −$177	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	740.79	+0.029%	$326K	$1.1M	20x	as long as short
Nado META-PERP	−0.0090%	1h	740.71	+0.018%	$498K	$508K	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0034%	1h	740.52	−0.008%	$31K	$246K	10x	as long as short
Aster METAUSDT	0.0000%	8h	740.31	−0.036%	$466K	$549K	20x	as long as short
Extended META_24_5-USDlong	0.0000%	1h	740.58	long leg	$550K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	740.53	−0.006%	$27.4M	$179.9M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	740.73	+0.021%	$7.5M	$14.0M	100x
OKX META-USDT-SWAP	0.0000%	8h	740.37	−0.028%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.60	+0.003%	$351K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.73	+0.021%	$5.6M	$11.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.83	+0.034%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.13	−0.060%	$12K	$458K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.05	+0.064%	$822	$9.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.66	+0.011%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.88	+0.041%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.75	+0.023%	$753K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.22	+0.087%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.83	+0.034%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.75	+0.023%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.87	+0.040%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.22	−0.048%	$686K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.59	+0.002%	$2.2M	$14.1M	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	740.58	0.000%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	740.14	−0.059%	$110K	$331K	10x	as long as short
Aftermath Perps METAUSD	+0.0068%	1h	740.95	+0.051%	$48K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.81	+0.031%	$1.6M	$454K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.45	−0.152%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.82	+0.033%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.69	+0.015%	$267	—	10x	as long as short
Hotstuff META-PERP	+0.0112%	1h	740.86	+0.038%	$33K	$105	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	740.63	+0.007%	$608K	$7.4M	10x	as long as short
tradeXYZ xyz:META	+0.0166%	1h	740.70	+0.017%	$67.9M	$121.1M	20x	as long as short
Lighter META	+0.0200%	1h	740.76	+0.025%	$857K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.98	+0.189%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	740.42	−0.021%	$330K	$930K	20x	as long as short
edgeX METAUSDC	+0.0394%	4h	740.15	−0.058%	$62K	$335K	10x	as long as short