Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.027%

Price spread now: GRVT against Hotstuff−0.010%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 GRVT

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 · GRVT: 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	740.48	0.0040	pay 0.0005% / 1h	27m 09s	$33K	$105	20x
Short	GRVT META_USDT_Perp	740.41	0	get 0.0000% / 8h	2h 27m	$12K	$529K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$8.4
Price spread: −0.010% → 0.000%: −$1
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$23.4
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; GRVT: live order book, 60 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 GRVT live order book, 60 min ago	1.21 bp	6.4 bp −$6	14.4 bp −$144	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
Nado META-PERP	−0.0131%	1h	740.35	−0.018%	$398K	$316K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.24	−0.032%	$329K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.88	+0.054%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.28	−0.026%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.38	−0.014%	$26.8M	$177.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.31	−0.023%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.15	−0.045%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.07	−0.055%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.35	−0.018%	$5.7M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.43	−0.007%	$1.6M	$2.5M	—	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_Perpshort	0.0000%	8h	740.41	−0.010%	$12K	$529K	10x
SunX META-USDT	0.0000%	8h	740.78	+0.041%	$736	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.42	−0.008%	$30K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.12	−0.049%	$105K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.34	−0.019%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.32	−0.022%	$2.2M	$14.2M	10x	as long as short
edgeX METAUSDC	+0.0026%	4h	740.40	−0.011%	$62K	$330K	10x	as long as short
Lighter META	+0.0032%	1h	740.61	+0.018%	$860K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	740.63	+0.020%	$739K	$3.2M	20x	as long as short
Hotstuff META-PERPlong	+0.0040%	1h	740.48	long leg	$33K	$105	20x
Arcus META-USD	+0.0040%	1h	740.14	−0.046%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.04	+0.076%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.34	−0.019%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.53	+0.007%	$68.5M	$120.3M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.42	−0.008%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.33	−0.020%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.38	−0.014%	$639K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	740.16	−0.043%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	740.98	+0.067%	$45K	$60K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	740.26	−0.030%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.53	+0.007%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.33	−0.020%	$1.6M	$352K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.69	+0.028%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.45	−0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.34	−0.019%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.31	−0.023%	$168K	$46K	30x	as long as short