Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0504%/8h= −55.2% APRpaid last 24h −0.067%

Price spread now: BloFin against Hotstuff+0.050%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on BloFin

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

The price spread pays, funding is against you. BloFin is 0.050% dearer against Hotstuff than usual: you sell high and buy low (spread +0.050% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff META-PERP	746.12	0.0384	pay 0.0048% / 1h	48m 49s	$33K	$105	20x
Short	BloFin META-USDT	746.49	−0.0120	pay 0.0120% / 8h	7h 48m	$334K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$105.84
Price spread: +0.050% → 0.000%: $4.96
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$117.88
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; BloFin: live order book, 3 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 BloFin live order book, 3 min ago	0.67 bp	7.6 bp −$8	15.9 bp −$159	doesn't fit	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-USDTshort	−0.0120%	8h	746.49	+0.050%	$334K	$1.1M	20x
Nado META-PERP	−0.0045%	1h	746.02	−0.014%	$481K	$561K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.86	+0.099%	$484K	$597K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.25	+0.018%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.52	+0.053%	$25.7M	$191.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.43	+0.042%	$7.5M	$15.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.86	+0.099%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.25	+0.017%	$474K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.56	+0.059%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	746.52	+0.054%	$2.5M	$3.0M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	745.97	−0.019%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.63	+0.068%	$950	$7.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.25	+0.017%	$53K	$290K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.21	+0.012%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.58	+0.062%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.70	+0.078%	$796K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	746.26	+0.019%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.97	−0.020%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.56	+0.059%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.33	+0.028%	$180K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.79	−0.044%	$567K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.23	+0.015%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.42	−0.094%	$725K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	746.02	−0.013%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.55	+0.058%	$49K	$90K	10x	as long as short
Pacifica META	+0.0100%	1h	745.79	−0.044%	$635	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.33	+0.028%	$1.6M	$747K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.75	−0.050%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.38	+0.035%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.21	+0.013%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	746.12	0.000%	$647K	$8.1M	10x	as long as short
Lighter META	+0.0208%	1h	746.68	+0.075%	$1.2M	$2.9M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.08	+0.263%	$177K	$52K	30x	as long as short
tradeXYZ xyz:META	+0.0280%	1h	746.53	+0.055%	$84.7M	$132.3M	20x	as long as short
Hotstuff META-PERPlong	+0.0384%	1h	746.12	long leg	$33K	$105	20x
edgeX METAUSDC	+0.0572%	4h	746.25	+0.017%	$63K	$346K	10x	as long as short
Phoenix META	+0.0791%	1h	746.41	+0.039%	$797K	$1.5M	20x	as long as short