Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.1027%/8h= −112.5% APRpaid last 24h −0.079%

Price spread now: Nado against edgeX−0.129%62s7-day average −0.025% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$440.440% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.491%−$49 on $10k

Price spread, last 3 days (all we have)+0.001%$0 · spread now −0.129%, 7d avg −0.025%

Together, before fees−0.490%+ Points / potential airdropedgeX: Active · Nado: Active · farm board−$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and Nado is 0.104% cheaper against edgeX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.025%). Swap the legs. The two prices were read 62 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	742.29	0.0994	pay 0.0497% / 4h	25m 56s	$62K	$334K	10x
Short	Nado META-PERP	741.33	−0.0033	pay 0.0004% / 1h	25m 56s	$389K	$330K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.129%Rate

Funding earned: −$215.72
Price spread: −0.129% → −0.025%: −$10.38
Slippage, 4 orders: −$27.98
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$270.08
Costs to cover: 0.440%
Break-even: never at this rate

Slippage from edgeX: live order book, 52 min ago; Nado: live order book, 52 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 edgeX live order book, 52 min ago	5.13 bp	9.8 bp −$10	11.4 bp −$114	doesn't fit	doesn't fit
Sell Nado live order book, 52 min ago	0.14 bp	10.8 bp −$11	34.6 bp −$346	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-USDT	−0.0120%	8h	741.75	−0.073%	$329K	$1.1M	20x	as long as short
Nado META-PERPshort	−0.0033%	1h	741.33	−0.129%	$389K	$330K	20x
Aster METAUSDT	0.0000%	8h	741.39	−0.122%	$456K	$539K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.52	−0.105%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.63	−0.089%	$27.3M	$179.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.44	−0.115%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.67	−0.084%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.17	−0.151%	$345K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.52	−0.104%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.73	−0.076%	$2.3M	$3.2M	—	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	742.25	−0.006%	$12K	$480K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.42	−0.117%	$721	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.63	−0.089%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.30	+0.001%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	741.72	−0.077%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.65	−0.087%	$755K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.40	−0.120%	$110K	$454K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.82	−0.064%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.67	−0.084%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.64	−0.088%	$546K	$845K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.58	−0.096%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.09	−0.162%	$760K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	741.44	−0.115%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0067%	1h	742.51	+0.030%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.41	−0.119%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.58	−0.096%	$1.6M	$385K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.76	−0.072%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.79	−0.068%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.61	−0.092%	$267	—	10x	as long as short
Phoenix META	+0.0129%	1h	742.09	−0.027%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0160%	1h	741.67	−0.084%	$33K	$105	20x	as long as short
Lighter META	+0.0200%	1h	741.67	−0.084%	$856K	$2.6M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.36	+0.279%	$169K	$46K	30x	as long as short
tradeXYZ xyz:META	+0.0251%	1h	741.49	−0.108%	$67.7M	$122.6M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0303%	1h	741.31	−0.132%	$30K	$258K	10x	as long as short
edgeX METAUSDClong	+0.0994%	4h	742.29	long leg	$62K	$334K	10x