Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0349%/8h= −38.2% APRpaid last 24h −0.022%

Price spread now: Binance against tradeXYZ−0.019%7-day average +0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on tradeXYZ Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.225%−$23 on $10k

Price spread, last 7 days+0.055%+$5 · spread now −0.019%, 7d avg +0.049%

Together, before fees−0.171%+ Points / potential airdroptradeXYZ: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Binance is 0.068% cheaper against tradeXYZ than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.049%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.225% in total (about -11.7% 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	tradeXYZ xyz:META	742.04	0.0349	pay 0.0044% / 1h	23m 51s	$69.2M	$120.1M	20x
Short	Binance METAUSDT	741.90	0	get 0.0000% / 8h	5h 23m	$27.4M	$179.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against tradeXYZ. 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 tradeXYZbpFee BinancebpOrdersPrice spread, now −0.019%Rate

Funding earned: −$73.2
Price spread: −0.019% → +0.049%: −$6.84
Slippage, 4 orders: −$2.03
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$110.07
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 5 min ago; Binance: 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 tradeXYZ live order book, 5 min ago	0.07 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.07 bp	6.0 bp −$6	12.9 bp −$129	42.1 bp −$4,214	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	742.08	+0.005%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0021%	1h	741.38	−0.089%	$479K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.79	−0.034%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.75	−0.039%	$548K	$2.7M	17x	as long as short
Binance METAUSDTshort	0.0000%	8h	741.90	−0.019%	$27.4M	$179.2M	20x
Bybit METAUSDT	0.0000%	8h	741.85	−0.026%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.87	−0.023%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.62	−0.057%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.89	−0.020%	$5.5M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	742.17	+0.018%	$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	742.19	+0.021%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.07	+0.004%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.79	−0.034%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.47	+0.058%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.15	+0.015%	$764K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.66	−0.051%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.62	−0.057%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.94	−0.013%	—	$10K	25x	as long as short
Deribit META_USDC-PERPETUAL	+0.0047%	1h	741.53	−0.069%	$31K	$245K	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.81	−0.031%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.66	−0.051%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.90	−0.019%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.36	−0.092%	$721K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	741.58	−0.062%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.53	+0.066%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.78	−0.035%	$618K	$7.2M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.09	+0.007%	$1.6M	$519K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.39	−0.088%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.85	−0.026%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.63	−0.055%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.80	+0.372%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	741.85	−0.026%	$33K	$105	20x	as long as short
Lighter META	+0.0264%	1h	742.11	+0.009%	$861K	$2.4M	20x	as long as short
tradeXYZ xyz:METAlong	+0.0349%	1h	742.04	long leg	$69.2M	$120.1M	20x
edgeX METAUSDC	+0.0462%	4h	742.01	−0.004%	$62K	$335K	10x	as long as short
Phoenix META	+0.0496%	1h	743.31	+0.171%	$548K	$1.1M	20x	as long as short