Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h +0.004%

Price spread now: KuCoin against Hotstuff+0.027%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 KuCoin

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. KuCoin is 0.027% dearer against Hotstuff than usual: you sell high and buy low (spread +0.027% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff META-PERP	742.63	0.0152	pay 0.0019% / 1h	20m 18s	$33K	$105	20x
Short	KuCoin METAUSDTM	742.83	0.0100	get 0.0100% / 8h	4h 20m	$1.6M	$549K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$10.92
Price spread: +0.027% → 0.000%: $2.69
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$25.23
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	2.96 bp	55.3 bp −$55	doesn't fit	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	742.88	+0.034%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0025%	1h	742.46	−0.022%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.60	−0.004%	$468K	$552K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.66	+0.004%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.87	+0.032%	$27.6M	$180.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.82	+0.026%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.67	+0.005%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.40	−0.031%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.72	+0.012%	$5.3M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.78	+0.020%	$2.4M	$3.1M	—	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	742.66	+0.004%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.93	+0.040%	$918	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.16	−0.063%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.62	−0.001%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.54	−0.012%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.07	+0.059%	$771K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.66	+0.004%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.26	−0.050%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.24	+0.082%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.83	+0.027%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.52	−0.015%	$584K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.73	+0.013%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.15	−0.065%	$765K	$4.4M	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	742.64	+0.002%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	743.03	+0.054%	$51K	$82K	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	742.83	+0.027%	$1.6M	$549K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.88	−0.101%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.90	+0.036%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.65	+0.003%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	741.90	−0.098%	$625K	$7.2M	10x	as long as short
edgeX METAUSDC	+0.0137%	4h	742.55	−0.011%	$62K	$336K	10x	as long as short
Hotstuff META-PERPlong	+0.0152%	1h	742.63	long leg	$33K	$105	20x
Injective META/USDC PERP	+0.0220%	1h	742.24	−0.053%	$171K	$48K	30x	as long as short
Lighter META	+0.0240%	1h	743.01	+0.051%	$858K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0268%	1h	742.75	+0.016%	$69.5M	$120.4M	20x	as long as short
Phoenix META	+0.0591%	1h	743.61	+0.132%	$687K	$1.2M	20x	as long as short