Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h +0.011%

Price spread now: QFEX against Gate+0.076%7-day average +0.021% · 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−$41as in the Price arb table

costs, in and out, $10k−$470.469% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.016%+$2 on $10k

Price spread, last 7 days−0.071%−$7 · spread now +0.076%, 7d avg +0.021%

Together, before fees−0.055%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.055% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	740.20	0	get 0.0000% / 8h	7h 59m	$354K	$5.6M	100x
Short	QFEX META-USD	740.76	0.0027	get 0.0003% / 1h	59m 39s	$2.2M	$14.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.076%Rate

Funding earned: $5.75
Price spread: +0.076% → +0.021%: $5.49
Slippage, 4 orders: −$21.91
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$35.67
Costs to cover: 0.469%
Break-even: 50.5 days

Slippage from Gate: live order book, 4 min ago; QFEX: live order book, 4 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 Gate live order book, 4 min ago	1.55 bp	18.7 bp −$19	44.8 bp −$448	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	1.62 bp	6.6 bp −$7	7.3 bp −$73	17.1 bp −$1,710	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	740.93	+0.099%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.00	+0.108%	$461K	$546K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.54	+0.045%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.68	+0.065%	$27.4M	$180.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.36	+0.022%	$7.5M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.31	+0.015%	$6.0M	$13.1M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	740.20	long leg	$354K	$5.6M	100x
Bitget METAUSDT	0.0000%	8h	740.53	+0.045%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	740.83	+0.086%	$2.3M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.63	+0.193%	$12K	$483K	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	740.51	+0.042%	$916	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.07	−0.018%	$30K	$258K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.73	+0.072%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.15	+0.128%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0025%	1h	740.15	−0.007%	$384K	$332K	20x	as long as short
QFEX META-USDshort	+0.0027%	1h	740.76	+0.076%	$2.2M	$14.4M	10x
Lighter RH META	+0.0032%	1h	740.88	+0.092%	$761K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.39	+0.026%	$110K	$451K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.74	+0.073%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.60	+0.054%	$178K	$209K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.31	+0.015%	$67.7M	$122.8M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.55	+0.047%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.39	+0.026%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.75	−0.061%	$757K	$4.3M	10x	as long as short
Aftermath Perps METAUSD	+0.0074%	1h	741.38	+0.159%	$50K	$76K	10x	as long as short
Paradex META-USD-PERP	+0.0074%	8h	740.47	+0.037%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.35	+0.155%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.65	+0.061%	$1.6M	$408K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.53	+0.045%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.70	+0.068%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.27	+0.009%	$266	—	10x	as long as short
Phoenix META	+0.0129%	1h	741.01	+0.109%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0176%	1h	740.64	+0.059%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.21	+0.407%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0227%	4h	741.23	+0.140%	$62K	$334K	10x	as long as short
Lighter META	+0.0280%	1h	740.85	+0.088%	$858K	$2.4M	20x	as long as short