Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0449%/8h= −49.2% APRpaid last 24h −0.031%

Price spread now: Bybit against tradeXYZ−0.076%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.166%−$17 on $10k

Price spread, last 7 days+0.063%+$6 · spread now −0.076%, 7d avg +0.024%

Together, before fees−0.103%+ Points / potential airdroptradeXYZ: Active · farm board−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Bybit is 0.100% cheaper against tradeXYZ than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.024%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.166% in total (about -8.6% 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	746.26	0.0449	pay 0.0056% / 1h	9m 49s	$75.9M	$125.5M	20x
Short	Bybit METAUSDT	745.69	0	get 0.0000% / 8h	2h 09m	$7.3M	$15.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$94.28
Price spread: −0.076% → +0.024%: −$10.01
Slippage, 4 orders: −$9.82
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$143.1
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 10 min ago; Bybit: live order book, 4 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, 10 min ago	0.27 bp	10.0 bp −$10	11.8 bp −$118	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.34 bp	8.9 bp −$9	17.2 bp −$172	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	745.92	−0.046%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.47	−0.106%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.58	−0.091%	$549K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.69	−0.077%	$27.7M	$182.6M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	745.69	−0.076%	$7.3M	$15.1M	100x
OKX META-USDT-SWAP	0.0000%	8h	745.84	−0.056%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.38	−0.118%	$433K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.89	−0.050%	$5.5M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	745.86	−0.054%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.06	−0.294%	$12K	$443K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.75	−0.068%	$808	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.44	−0.110%	$31K	$263K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.62	−0.086%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.34	−0.123%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0004%	1h	745.61	−0.087%	$482K	$557K	20x	as long as short
Lighter RH META	+0.0032%	1h	746.09	−0.023%	$775K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.74	−0.204%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.26	0.000%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.52	−0.099%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.81	−0.060%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.41	−0.114%	$586K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.32	−0.260%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.21	−0.141%	$748K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0069%	8h	745.70	−0.075%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	745.20	−0.142%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.55	−0.095%	$1.6M	$656K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.10	−0.289%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.78	−0.064%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.69	−0.076%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	744.53	−0.232%	$655K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.85	−0.457%	$171K	$46K	30x	as long as short
Lighter META	+0.0296%	1h	746.17	−0.012%	$1.1M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	746.32	+0.008%	$33K	$105	20x	as long as short
tradeXYZ xyz:METAlong	+0.0449%	1h	746.26	long leg	$75.9M	$125.5M	20x
edgeX METAUSDC	+0.0521%	4h	744.35	−0.256%	$62K	$339K	10x	as long as short
Phoenix META	+0.0685%	1h	745.86	−0.054%	$796K	$1.4M	20x	as long as short