Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h −0.068%

Price spread now: Hotstuff against edgeX+0.006%58s7-day average — · you sell dearer than you buy

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

Long on edgeX 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 airdropedgeX: Active · Hotstuff: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 58 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	edgeX METAUSDC	740.40	0.0026	pay 0.0013% / 4h	2h 28m	$62K	$330K	10x
Short	Hotstuff META-PERP	740.44	0.0128	get 0.0016% / 1h	28m 25s	$33K	$105	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against edgeX. 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 edgeXbpFee HotstuffbpOrdersPrice spread, now +0.006%Rate

Funding earned: $21.49
Price spread: +0.006% → 0.000%: $0.57
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $8.06
Costs to cover: 0.140%
Break-even: 4.4 days

Slippage unknown: edgeX: live order book, 59 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 edgeX live order book, 59 min ago	5.20 bp	9.8 bp −$10	11.4 bp −$114	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	−0.0132%	1h	740.45	+0.007%	$399K	$316K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.47	+0.010%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.87	+0.064%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.18	−0.030%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.27	−0.017%	$26.8M	$177.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.32	−0.011%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.16	−0.032%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.81	−0.079%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.32	−0.011%	$5.7M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.43	+0.005%	$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	740.41	+0.001%	$12K	$529K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.87	+0.064%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.43	+0.004%	$30K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	739.99	−0.055%	$105K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.23	−0.023%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.30	−0.013%	$2.2M	$14.2M	10x	as long as short
edgeX METAUSDClong	+0.0026%	4h	740.40	long leg	$62K	$330K	10x
Lighter META	+0.0032%	1h	740.62	+0.030%	$860K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	740.64	+0.033%	$739K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.10	−0.040%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.05	+0.088%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.26	−0.019%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.41	+0.002%	$68.5M	$120.3M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.45	+0.007%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.27	−0.017%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.38	−0.002%	$639K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	740.24	−0.021%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	740.93	+0.072%	$45K	$60K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	740.26	−0.019%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.53	+0.018%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.24	−0.021%	$1.6M	$351K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.69	+0.039%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.50	+0.014%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.34	−0.007%	$267	—	10x	as long as short
Hotstuff META-PERPshort	+0.0128%	1h	740.44	+0.006%	$33K	$105	20x
Injective META/USDC PERP	+0.0220%	1h	740.31	−0.012%	$168K	$46K	30x	as long as short