Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h +0.006%

Price spread now: Orderly against Hotstuff+0.004%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 Orderly

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	740.50	0.0128	pay 0.0016% / 1h	23m 49s	$33K	$105	20x
Short	Orderly PERP_META_USDC_mythos	740.53	0.0100	get 0.0100% / 8h	6h 23m	$1K	$24	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.004%Rate

Funding earned: −$5.88
Price spread: +0.004% → 0.000%: $0.41
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$16.47
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Hotstuff and Orderly: 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 35 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	−0.0135%	1h	740.05	−0.061%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.75	+0.033%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.32	−0.024%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.50	0.000%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.43	−0.009%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.41	−0.012%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.29	−0.028%	$353K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.52	+0.003%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.67	+0.023%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.63	+0.018%	$12K	$432K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.39	−0.015%	$876	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.06	−0.059%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.32	−0.024%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.86	+0.049%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.37	−0.018%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.71	+0.028%	$751K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.18	−0.043%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.59	+0.012%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.52	+0.003%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.22	−0.038%	$558K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.45	−0.007%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.78	−0.097%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	740.38	−0.016%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	741.29	+0.106%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.54	+0.005%	$1.6M	$483K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.11	−0.053%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythosshort	+0.0100%	8h	740.53	+0.004%	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	740.34	−0.021%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.022%	$609K	$7.2M	10x	as long as short
Lighter META	+0.0120%	1h	740.64	+0.019%	$856K	$2.4M	20x	as long as short
Hotstuff META-PERPlong	+0.0128%	1h	740.50	long leg	$33K	$105	20x
Injective META/USDC PERP	+0.0220%	1h	742.96	+0.332%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0239%	1h	740.51	+0.001%	$68.4M	$119.9M	20x	as long as short
Phoenix META	+0.0313%	1h	741.24	+0.100%	$416K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0851%	4h	740.34	−0.021%	$62K	$334K	10x	as long as short