Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0272%/8h= +29.8% APRpaid last 24h +0.031%

Price spread now: Hotstuff against Bybit+0.028%53s7-day average — · you sell dearer than you buy

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

Long on Bybit 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 +$8 a day on $10k at the current rate, and Hotstuff is 0.028% dearer against Bybit than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit METAUSDT	742.88	0	get 0.0000% / 8h	7h 18m	$7.5M	$15.6M	100x
Short	Hotstuff META-PERP	743.09	0.0272	get 0.0034% / 1h	18m 41s	$33K	$105	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Bybit. 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 BybitbpFee HotstuffbpOrdersPrice spread, now +0.028%Rate

Funding earned: $57.12
Price spread: +0.028% → 0.000%: $2.83
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $43.95
Costs to cover: 0.160%
Break-even: 1.6 days

Slippage unknown: Bybit: live order book, 5 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 Bybit live order book, 5 min ago	1.08 bp	8.9 bp −$9	21.1 bp −$211	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 37 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	742.89	+0.001%	$337K	$1.1M	20x	as long as short
Nado META-PERP	0.0000%	1h	742.53	−0.047%	$478K	$560K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.38	+0.067%	$478K	$620K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.73	−0.020%	$544K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.96	+0.011%	$25.8M	$191.4M	20x	as long as short
Bybit METAUSDTlong	0.0000%	8h	742.88	long leg	$7.5M	$15.6M	100x
OKX META-USDT-SWAP	0.0000%	8h	742.83	−0.007%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.51	−0.050%	$486K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.83	−0.007%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	743.23	+0.047%	$2.5M	$3.0M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	743.35	+0.063%	$12K	$437K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.37	+0.066%	$653	$7.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.57	−0.042%	$36K	$270K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.69	−0.026%	$107K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.47	+0.079%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.03	+0.020%	$794K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.71	−0.023%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.50	−0.051%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.27	+0.052%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.82	−0.008%	$179K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.68	−0.027%	$565K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.69	−0.026%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.56	−0.043%	$741K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	742.70	−0.024%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	743.29	+0.056%	$51K	$93K	10x	as long as short
Pacifica META	+0.0100%	1h	742.62	−0.035%	$610	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.09	+0.028%	$1.6M	$779K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.75	−0.017%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.01	+0.017%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.81	−0.010%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	742.52	−0.048%	$627K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.78	+0.256%	$176K	$52K	30x	as long as short
Hotstuff META-PERPshort	+0.0272%	1h	743.09	+0.028%	$33K	$105	20x
Lighter META	+0.0296%	1h	743.21	+0.044%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0299%	1h	742.90	+0.003%	$85.3M	$133.9M	20x	as long as short
edgeX METAUSDC	+0.0338%	4h	743.07	+0.025%	$63K	$347K	10x	as long as short
Phoenix META	+0.0791%	1h	743.95	+0.144%	$794K	$1.5M	20x	as long as short