Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.003%

Price spread now: Bybit against Hotstuff−0.014%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 Bybit

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff META-PERP	740.66	0.0032	pay 0.0004% / 1h	37m 06s	$33K	$105	20x
Short	Bybit METAUSDT	740.56	0	get 0.0000% / 8h	1h 37m	$7.4M	$13.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$6.72
Price spread: −0.014% → 0.000%: −$1.35
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$24.07
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Bybit: live order book, 1 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 Bybit live order book, 1 min ago	0.41 bp	10.4 bp −$10	16.3 bp −$163	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 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	740.63	−0.004%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0058%	1h	740.45	−0.029%	$395K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.09	+0.058%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.43	−0.031%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.60	−0.008%	$26.9M	$177.7M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	740.56	−0.014%	$7.4M	$13.9M	100x
OKX META-USDT-SWAP	0.0000%	8h	740.56	−0.014%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.06	−0.081%	$330K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.61	−0.007%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.36	−0.041%	$1.6M	$2.6M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	740.44	−0.030%	$12K	$509K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.65	−0.001%	$710	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.58	−0.011%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.48	−0.024%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.53	−0.018%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.45	−0.028%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.03	+0.050%	$744K	$3.2M	20x	as long as short
Hotstuff META-PERPlong	+0.0032%	1h	740.66	long leg	$33K	$105	20x
Arcus META-USD	+0.0040%	1h	740.28	−0.051%	$260K	$316K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.00	+0.046%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.52	−0.019%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.64	−0.003%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.60	−0.008%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.48	−0.025%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.12	−0.073%	$666K	$4.0M	10x	as long as short
Aftermath Perps METAUSD	+0.0055%	1h	740.76	+0.014%	$48K	$62K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.90	+0.032%	$608K	$7.3M	10x	as long as short
Phoenix META	+0.0065%	1h	740.33	−0.045%	$291K	$791K	20x	as long as short
Lighter META	+0.0096%	1h	741.01	+0.047%	$859K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.51	−0.020%	$1.6M	$360K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.89	−0.104%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.61	−0.007%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.45	−0.029%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0127%	1h	740.77	+0.015%	$68.4M	$120.6M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.94	−0.097%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0892%	4h	740.33	−0.045%	$62K	$330K	10x	as long as short