Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0294%/8h= +32.2% APRpaid last 24h +0.053%

Price spread now: tradeXYZ against Gate+0.071%7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$550.545% of the position

Long on Gate Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.183%+$18 on $10k

Price spread, last 7 days−0.073%−$7 · spread now +0.071%, 7d avg +0.008%

Together, before fees+0.110%+ Points / potential airdroptradeXYZ: Active · farm board+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and tradeXYZ is 0.063% dearer against Gate than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.008%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.183% in total (about 9.5% 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	Gate META_USDT	743.20	0	get 0.0000% / 8h	4h 07m	$365K	$5.7M	100x
Short	tradeXYZ xyz:META	743.73	0.0294	get 0.0037% / 1h	7m 52s	$69.6M	$120.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ against Gate. 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 GatebpFee tradeXYZbpOrdersPrice spread, now +0.071%Rate

Funding earned: $61.83
Price spread: +0.071% → +0.008%: $6.32
Slippage, 4 orders: −$21.52
Fee Gate: 7.5 bp × 2 orders: −$15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $13.63
Costs to cover: 0.545%
Break-even: 5.5 days

Slippage from Gate: live order book, just now; tradeXYZ: live order book, 11 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 Gate live order book, just now	5.99 bp	19.2 bp −$19	41.1 bp −$411	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 11 min ago	0.07 bp	10.1 bp −$10	doesn't fit	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	743.94	+0.100%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0003%	1h	743.18	−0.003%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.09	−0.015%	$468K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.59	+0.053%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.82	+0.083%	$28.4M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.07	+0.117%	$7.7M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.56	+0.048%	$6.0M	$13.5M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	743.20	long leg	$365K	$5.7M	100x
Bitget METAUSDT	0.0000%	8h	743.76	+0.075%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	744.35	+0.154%	$2.4M	$3.1M	—	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	744.40	+0.161%	$12K	$445K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.65	+0.061%	$922	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.57	+0.050%	$106K	$297K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.06	+0.116%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.88	+0.091%	$778K	$3.1M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.62	+0.057%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.63	+0.058%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.75	+0.074%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.42	+0.030%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.75	+0.074%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.09	−0.015%	$823K	$4.6M	10x	as long as short
Popdex METAUSDT	+0.0072%	1h	743.81	+0.082%	$179K	$199K	20x	as long as short
Aftermath Perps METAUSD	+0.0082%	1h	744.63	+0.192%	$52K	$82K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0087%	1h	743.19	−0.001%	$31K	$246K	10x	as long as short
Paradex META-USD-PERP	+0.0093%	8h	743.72	+0.071%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.90	+0.094%	$1.6M	$556K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.28	+0.011%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.81	+0.082%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.64	+0.059%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	+0.075%	$615K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0184%	1h	743.80	+0.081%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.14	+0.396%	$172K	$48K	30x	as long as short
Lighter META	+0.0280%	1h	743.83	+0.085%	$865K	$2.5M	20x	as long as short
tradeXYZ xyz:METAshort	+0.0294%	1h	743.73	+0.071%	$69.6M	$120.7M	20x
Phoenix META	+0.0591%	1h	744.96	+0.237%	$715K	$1.2M	20x	as long as short
edgeX METAUSDC	+0.0902%	4h	744.26	+0.143%	$62K	$336K	10x	as long as short