Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h −0.005%

Price spread now: Hotstuff against Binance+0.043%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Hotstuff is 0.043% dearer against Binance than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance METAUSDT	744.56	0	get 0.0000% / 8h	3h 59m	$28.5M	$183.0M	20x
Short	Hotstuff META-PERP	744.88	0.0200	get 0.0025% / 1h	59m 17s	$33K	$105	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Binance. 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 BinancebpFee HotstuffbpOrdersPrice spread, now +0.043%Rate

Funding earned: $42
Price spread: +0.043% → 0.000%: $4.3
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $31.3
Costs to cover: 0.150%
Break-even: 1.8 days

Slippage unknown: Binance: live order book, 14 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 Binance live order book, 14 min ago	0.07 bp	5.2 bp −$5	13.0 bp −$130	46.7 bp −$4,668	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
BloFin META-USDT	−0.0120%	8h	744.49	−0.009%	$329K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.11	−0.061%	$469K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.33	−0.030%	$550K	$2.7M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	744.56	long leg	$28.5M	$183.0M	20x
Bybit METAUSDT	0.0000%	8h	744.44	−0.016%	$7.7M	$14.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.29	−0.036%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.18	−0.051%	$366K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.52	−0.005%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	745.25	+0.093%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.97	+0.056%	$12K	$448K	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	744.48	−0.011%	$993	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.08	−0.064%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.55	−0.001%	$106K	$301K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.20	+0.086%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0010%	1h	744.08	−0.064%	$481K	$553K	20x	as long as short
Lighter RH META	+0.0032%	1h	744.84	+0.038%	$781K	$3.1M	20x	as long as short
QFEX META-USD	+0.0036%	1h	744.32	−0.032%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	744.27	−0.039%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.63	+0.009%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.24	−0.043%	$586K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.40	−0.021%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.82	−0.099%	$819K	$4.6M	10x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	745.02	+0.061%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.64	+0.011%	$1.6M	$560K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.01	−0.074%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.49	−0.009%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.37	−0.026%	$268	—	10x	as long as short
Paradex META-USD-PERP	+0.0105%	8h	744.53	−0.004%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	744.19	−0.050%	$616K	$7.3M	10x	as long as short
Popdex METAUSDT	+0.0160%	1h	744.46	−0.013%	$179K	$199K	20x	as long as short
Hotstuff META-PERPshort	+0.0200%	1h	744.88	+0.043%	$33K	$105	20x
Injective META/USDC PERP	+0.0220%	1h	747.42	+0.384%	$172K	$48K	30x	as long as short
Lighter META	+0.0296%	1h	744.64	+0.011%	$862K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0319%	1h	744.57	+0.001%	$69.8M	$120.9M	20x	as long as short
Phoenix META	+0.0591%	1h	745.84	+0.172%	$737K	$1.2M	20x	as long as short
edgeX METAUSDC	+0.0992%	4h	745.16	+0.081%	$62K	$338K	10x	as long as short