Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0365%/8h= +40.0% APRpaid last 24h +0.068%

Price spread now: edgeX against Hotstuff−0.021%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 edgeX

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 · edgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.021% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 5 hours of funding at the current rate (+$11 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff META-PERP	740.51	−0.0104	get 0.0013% / 1h	21m 30s	$33K	$105	20x
Short	edgeX METAUSDC	740.36	0.0261	get 0.0130% / 4h	2h 21m	$62K	$329K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.021%Rate

Funding earned: $76.64
Price spread: −0.021% → 0.000%: −$2.08
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $60.56
Costs to cover: 0.140%
Break-even: 1.5 days

Slippage unknown: Hotstuff: no order-book sample; edgeX: live order book, 2 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 edgeX live order book, 2 min ago	5.13 bp	9.7 bp −$10	11.3 bp −$113	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	740.39	−0.016%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0119%	1h	740.28	−0.031%	$398K	$316K	20x	as long as short
Hotstuff META-PERPlong	−0.0104%	1h	740.51	long leg	$33K	$105	20x
Aster METAUSDT	0.0000%	8h	740.87	+0.049%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.30	−0.028%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.39	−0.016%	$26.8M	$177.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.33	−0.024%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.42	−0.012%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.88	−0.085%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.33	−0.024%	$5.7M	$11.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.36	−0.020%	$1.6M	$2.5M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.32	−0.026%	$12K	$528K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.85	+0.046%	$734	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.51	0.000%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.23	−0.038%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.49	−0.003%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.31	−0.027%	$2.2M	$14.2M	10x	as long as short
Lighter META	+0.0032%	1h	740.59	+0.011%	$860K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	740.61	+0.014%	$740K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.09	−0.057%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.86	+0.047%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.35	−0.022%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.62	+0.015%	$68.5M	$120.4M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.55	+0.005%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.32	−0.026%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.18	−0.045%	$639K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	740.27	−0.032%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0052%	1h	741.00	+0.066%	$45K	$61K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	740.26	−0.034%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.48	−0.004%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.39	−0.016%	$1.6M	$352K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.32	−0.026%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.43	−0.011%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.33	−0.025%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.21	−0.041%	$168K	$46K	30x	as long as short
edgeX METAUSDCshort	+0.0261%	4h	740.36	−0.021%	$62K	$329K	10x