Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0400%/8h= −43.8% APRpaid last 24h −0.025%

Price spread now: Bitget against Hotstuff−0.072%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 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 against this trade now: funding costs −$12 a day on $10k at the current rate, and Bitget is 0.072% cheaper against Hotstuff than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff META-PERP	745.54	0.0400	pay 0.0050% / 1h	39m 03s	$33K	$105	20x
Short	Bitget METAUSDT	745.00	0	get 0.0000% / 8h	1h 39m	$5.5M	$12.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hotstuff. 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 HotstuffbpFee BitgetbpOrdersPrice spread, now −0.072%Rate

Funding earned: −$84
Price spread: −0.072% → 0.000%: −$7.24
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$108.24
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Bitget: live order book, 4 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Bitget live order book, 4 min ago	0.54 bp	9.2 bp −$9	13.6 bp −$136	39.7 bp −$3,972	doesn't fit

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 37 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	745.09	−0.060%	$334K	$1.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0112%	1h	744.55	−0.133%	$34K	$274K	10x	as long as short
Nado META-PERP	−0.0021%	1h	744.87	−0.090%	$482K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.67	+0.018%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.73	−0.109%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.91	−0.085%	$25.2M	$187.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.96	−0.078%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.08	−0.062%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.52	−0.137%	$458K	$6.1M	100x	as long as short
Bitget METAUSDTshort	0.0000%	8h	745.00	−0.072%	$5.5M	$12.3M	100x

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	745.20	−0.045%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.38	−0.022%	$13K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.87	−0.090%	$740	$8.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	744.90	−0.086%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.27	−0.036%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.89	−0.087%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.49	−0.007%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.87	−0.090%	$109K	$333K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.56	+0.003%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.10	−0.059%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.80	−0.099%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.08	−0.062%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.44	−0.148%	$711K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0063%	8h	745.05	−0.066%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	745.93	+0.053%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.18	−0.048%	$1.6M	$676K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.58	−0.129%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.08	−0.062%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.97	−0.076%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.43	−0.015%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.64	+0.416%	$173K	$46K	30x	as long as short
Lighter META	+0.0384%	1h	745.64	+0.013%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERPlong	+0.0400%	1h	745.54	long leg	$33K	$105	20x
tradeXYZ xyz:META	+0.0523%	1h	745.47	−0.009%	$77.1M	$127.2M	20x	as long as short
Phoenix META	+0.0739%	1h	746.43	+0.119%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0790%	4h	745.22	−0.043%	$62K	$342K	10x	as long as short
Pacifica META	+0.0800%	1h	744.88	−0.089%	—	—	—	as long as short