Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0168%/8h= +18.4% APRpaid last 24h +0.063%

Price spread now: Popdex against BloFin+0.023%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on BloFin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.207%+$21 on $10k

Price spread, last 3 days (all we have)−0.241%−$24 · spread now +0.023%, 7d avg −0.010%

Together, before fees−0.033%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Popdex is 0.033% dearer against BloFin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin META-USDT	740.35	−0.0120	get 0.0120% / 8h	1h 59m	$329K	$1.1M	20x
Short	Popdex METAUSDT	740.52	0.0048	get 0.0006% / 1h	59m 58s	$178K	$201K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against BloFin. 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 BloFinbpFee PopdexbpOrdersPrice spread, now +0.023%Rate

Funding earned: $35.28
Price spread: +0.023% → −0.010%: $3.33
Slippage, 4 orders: −$6.45
Fee BloFin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $13.76
Costs to cover: 0.248%
Break-even: 4.3 days

Slippage from BloFin: live order book, 2 min ago; Popdex: live order book, 24 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 BloFin live order book, 2 min ago	0.54 bp	7.9 bp −$8	11.8 bp −$118	doesn't fit	doesn't fit
Sell Popdex live order book, 24 min ago	0.20 bp	3.8 bp −$4	6.0 bp −$60	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-USDTlong	−0.0120%	8h	740.35	long leg	$329K	$1.1M	20x
Nado META-PERP	−0.0102%	1h	740.30	−0.007%	$397K	$317K	20x	as long as short
Hotstuff META-PERP	−0.0032%	1h	740.69	+0.046%	$33K	$105	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.98	+0.086%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.42	+0.010%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.51	+0.022%	$26.9M	$177.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.49	+0.019%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.32	−0.004%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.98	−0.050%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.59	+0.032%	$5.8M	$11.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.50	+0.020%	$1.6M	$2.5M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.42	+0.009%	$12K	$521K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.99	+0.086%	$885	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.53	+0.024%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.39	+0.005%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.50	+0.020%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.46	+0.015%	$2.2M	$14.2M	10x	as long as short
Lighter META	+0.0032%	1h	740.74	+0.053%	$860K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	740.74	+0.053%	$748K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.29	−0.008%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.89	+0.073%	—	$9K	25x	as long as short
Popdex METAUSDTshort	+0.0048%	1h	740.52	+0.023%	$178K	$201K	20x
Polymarket Perps META-USD	+0.0050%	1h	740.62	+0.036%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.48	+0.018%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.37	+0.003%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.24	−0.015%	$649K	$4.0M	10x	as long as short
Aftermath Perps METAUSD	+0.0052%	1h	741.03	+0.092%	$45K	$61K	10x	as long as short
tradeXYZ xyz:META	+0.0057%	1h	740.70	+0.047%	$68.5M	$120.6M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	740.26	−0.012%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.62	+0.036%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.32	−0.004%	$1.6M	$354K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.21	−0.019%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.52	+0.023%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.40	+0.007%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.24	−0.015%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0972%	4h	740.41	+0.009%	$62K	$330K	10x	as long as short