Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.027%

Price spread now: Hotstuff against Gate+0.080%7-day average — · you sell dearer than you buy

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

Long on Gate 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 airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Hotstuff is 0.080% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	742.12	0	get 0.0000% / 8h	56m 59s	$344K	$5.5M	100x
Short	Hotstuff META-PERP	742.71	0.0152	get 0.0019% / 1h	56m 59s	$33K	$105	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Gate. 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 GatebpFee HotstuffbpOrdersPrice spread, now +0.080%Rate

Funding earned: $31.92
Price spread: +0.080% → 0.000%: $7.95
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $19.87
Costs to cover: 0.200%
Break-even: 2.6 days

Slippage unknown: Gate: live order book, 1 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 Gate live order book, 1 min ago	4.92 bp	14.4 bp −$14	31.4 bp −$314	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
BloFin META-USDT	−0.0120%	8h	742.53	+0.055%	$281K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.87	+0.101%	$459K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.45	+0.044%	$549K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.60	+0.065%	$27.2M	$179.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.58	+0.062%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.70	+0.078%	$6.0M	$13.2M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	742.12	long leg	$344K	$5.5M	100x
Bitget METAUSDT	0.0000%	8h	742.52	+0.054%	$5.8M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	742.05	−0.009%	$2.1M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	742.20	+0.011%	$12K	$490K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	742.35	+0.031%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.50	+0.051%	$30K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.47	+0.047%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.56	+0.059%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0007%	1h	742.40	+0.037%	$391K	$329K	20x	as long as short
QFEX META-USD	+0.0027%	1h	742.43	+0.042%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	742.86	+0.100%	$761K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	742.27	+0.020%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.89	+0.104%	—	$9K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.67	+0.074%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.61	+0.066%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.04	−0.011%	$721K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	742.67	+0.074%	—	—	5x	as long as short
Popdex METAUSDT	+0.0056%	1h	742.62	+0.067%	$178K	$209K	20x	as long as short
Aftermath Perps METAUSD	+0.0061%	1h	742.92	+0.108%	$52K	$72K	10x	as long as short
Phoenix META	+0.0065%	1h	742.39	+0.036%	$291K	$797K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.12	0.000%	$606K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.47	+0.047%	$1.6M	$373K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.87	−0.034%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.62	+0.067%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.49	+0.050%	$267	—	10x	as long as short
Hotstuff META-PERPshort	+0.0152%	1h	742.71	+0.080%	$33K	$105	20x
Lighter META	+0.0192%	1h	742.85	+0.098%	$864K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.75	−0.050%	$169K	$46K	30x	as long as short
tradeXYZ xyz:META	+0.0243%	1h	742.73	+0.082%	$67.5M	$122.1M	20x	as long as short
edgeX METAUSDC	+0.0550%	4h	742.25	+0.018%	$62K	$333K	10x	as long as short