Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.028%

Price spread now: Hotstuff against Aster−0.032%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Hotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.032% cheaper against Aster than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 29 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster METAUSDT	741.17	0	get 0.0000% / 8h	2h 47m	$457K	$535K	20x
Short	Hotstuff META-PERP	740.94	0.0088	get 0.0011% / 1h	47m 32s	$33K	$105	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Aster. 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 AsterbpFee HotstuffbpOrdersPrice spread, now −0.032%Rate

Funding earned: $18.48
Price spread: −0.032% → 0.000%: −$3.15
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $2.33
Costs to cover: 0.130%
Break-even: 6.1 days

Slippage unknown: Aster: live order book, 40 min ago; Hotstuff: no order-book sample. Net counts fees only.

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 Aster live order book, 40 min ago	10.18 bp	91.9 bp −$92	doesn't fit	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Nado META-PERP	−0.0145%	1h	740.92	−0.035%	$398K	$311K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.68	−0.067%	$330K	$1.1M	20x	as long as short
Aster METAUSDTlong	0.0000%	8h	741.17	long leg	$457K	$535K	20x
Extended META_24_5-USD	0.0000%	1h	740.58	−0.080%	$551K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.63	−0.073%	$27.0M	$177.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.75	−0.057%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.71	−0.063%	$6.1M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.30	−0.118%	$321K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.79	−0.052%	$5.8M	$10.9M	100x	as long as short
Variational Omni META	0.0000%	8h	740.69	−0.065%	$1.6M	$2.5M	—	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	740.79	−0.052%	$12K	$544K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.78	−0.053%	$671	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.96	−0.029%	$30K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.38	−0.107%	$105K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.91	−0.036%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.73	−0.060%	$2.2M	$14.2M	10x	as long as short
Lighter META	+0.0032%	1h	741.00	−0.023%	$861K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	741.06	−0.015%	$741K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.54	−0.085%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.50	+0.044%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.61	−0.076%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.94	−0.032%	$68.5M	$119.9M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.86	−0.042%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.75	−0.057%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.62	−0.075%	$668K	$3.9M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	740.74	−0.058%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0056%	1h	741.56	+0.052%	$40K	$56K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	741.00	−0.023%	$608K	$7.3M	10x	as long as short
Hotstuff META-PERPshort	+0.0088%	1h	740.94	−0.032%	$33K	$105	20x
Phoenix META	+0.0097%	1h	740.85	−0.044%	$300K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.80	−0.050%	$1.6M	$341K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.68	−0.067%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.80	−0.050%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.64	−0.072%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.85	−0.044%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0695%	4h	740.75	−0.057%	$62K	$329K	10x	as long as short