Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0113%/8h= −12.4% APRpaid last 24h +0.015%

Price spread now: Nado against GRVT−0.039%61s7-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−$330.332% of the position

Long on GRVT Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.071%−$7 on $10k

Price spread, last 4 days (all we have)−0.469%−$47 · spread now −0.039%, 7d avg −0.025%

Together, before fees−0.540%+ Points / potential airdropGRVT: Active · Nado: Active · farm board−$54 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.025%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 61 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	GRVT META_USDT_Perp	740.46	0	get 0.0000% / 8h	6h 02m	$12K	$432K	10x
Short	Nado META-PERP	740.17	−0.0113	pay 0.0014% / 1h	2m 35s	$478K	$549K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against GRVT. 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 GRVTbpFee NadobpOrdersPrice spread, now −0.039%Rate

Funding earned: −$23.8
Price spread: −0.039% → −0.025%: −$1.34
Slippage, 4 orders: −$17.18
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$58.32
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from GRVT: live order book, 65 min ago; Nado: live order book, 65 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 GRVT live order book, 65 min ago	1.49 bp	6.0 bp −$6	15.3 bp −$153	doesn't fit	doesn't fit
Sell Nado live order book, 65 min ago	0.88 bp	13.4 bp −$13	30.7 bp −$307	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-PERPshort	−0.0113%	1h	740.17	−0.039%	$478K	$549K	20x
Aster METAUSDT	0.0000%	8h	740.79	+0.045%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.31	−0.020%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.49	+0.004%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.27	−0.026%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.28	−0.024%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.04	−0.057%	$354K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.42	−0.005%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.47	+0.001%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perplong	0.0000%	8h	740.46	long leg	$12K	$432K	10x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.22	−0.032%	$948	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.69	−0.104%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.18	−0.038%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.44	−0.003%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.32	−0.019%	$2.1M	$13.7M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.66	+0.027%	$761K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.98	−0.065%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.55	+0.012%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.46	0.000%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.22	−0.032%	$558K	$547K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.41	−0.007%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.94	−0.070%	$697K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	740.29	−0.022%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.84	+0.051%	$49K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.51	+0.007%	$1.6M	$497K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.73	−0.099%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.35	−0.015%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.20	−0.035%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.027%	$609K	$7.1M	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.44	−0.003%	$33K	$105	20x	as long as short
Lighter META	+0.0144%	1h	740.62	+0.022%	$860K	$2.4M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.18	+0.232%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0241%	1h	740.53	+0.009%	$68.3M	$119.7M	20x	as long as short
Phoenix META	+0.0313%	1h	741.11	+0.088%	$464K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0925%	4h	740.30	−0.022%	$62K	$335K	10x	as long as short