Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0035%/8h= −3.8% APRpaid last 24h −0.085%

Price spread now: QFEX against edgeX+0.018%7-day average +0.008% · 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−$32as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on edgeX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.419%−$42 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now +0.018%, 7d avg +0.008%

Together, before fees−0.377%+ Points / potential airdropedgeX: Active · farm board−$38 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.008%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX METAUSDC	740.31	0.0060	pay 0.0030% / 4h	2h 01m	$62K	$336K	10x
Short	QFEX META-USD	740.44	0.0025	get 0.0003% / 1h	1m 41s	$2.1M	$13.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$7.26
Price spread: +0.018% → +0.008%: $1.03
Slippage, 4 orders: −$13.73
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$38.96
Costs to cover: 0.327%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; QFEX: live order book, 7 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, 2 min ago	5.13 bp	9.7 bp −$10	11.2 bp −$112	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	1.62 bp	6.6 bp −$7	7.5 bp −$75	doesn't fit	doesn't fit

META on 35 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	−0.0113%	1h	740.17	−0.018%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.82	+0.070%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.36	+0.007%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.52	+0.030%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.27	−0.005%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.41	+0.014%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.29	−0.002%	$354K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.42	+0.015%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.47	+0.021%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.44	+0.018%	$12K	$431K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.27	−0.005%	$1K	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.94	−0.049%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.24	−0.009%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.49	+0.025%	$2.0M	$8K	10x	as long as short
QFEX META-USDshort	+0.0025%	1h	740.44	+0.018%	$2.1M	$13.7M	10x
Lighter RH META	+0.0032%	1h	740.68	+0.050%	$762K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.01	−0.040%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.55	+0.033%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.57	+0.036%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.22	−0.012%	$558K	$547K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.52	+0.029%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.94	−0.049%	$697K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	740.33	+0.003%	—	—	5x	as long as short
edgeX METAUSDClong	+0.0060%	4h	740.31	long leg	$62K	$336K	10x
Aftermath Perps METAUSD	+0.0070%	1h	740.90	+0.080%	$49K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.51	+0.028%	$1.6M	$497K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.73	−0.078%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.48	+0.023%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.33	+0.003%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.048%	$609K	$7.1M	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.47	+0.022%	$33K	$105	20x	as long as short
Lighter META	+0.0144%	1h	740.69	+0.052%	$860K	$2.4M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.18	+0.253%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0242%	1h	740.56	+0.034%	$68.3M	$119.7M	20x	as long as short
Phoenix META	+0.0313%	1h	741.11	+0.109%	$464K	$1.1M	20x	as long as short