Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0319%/8h= −35.0% APRpaid last 24h —

Price spread now: Paradex against Hotstuff−0.084%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 Paradex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · Paradex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Paradex is 0.084% cheaper against Hotstuff than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff META-PERP	745.76	0.0376	pay 0.0047% / 1h	5m 51s	$33K	$105	20x
Short	Paradex META-USD-PERP	745.13	0.0057	get 0.0057% / 8h	1h 05m	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$67.09
Price spread: −0.084% → 0.000%: −$8.43
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$84.52
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Paradex: 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 Paradex no order-book sample	—	—	—	—	—

Hotstuff and Paradex: 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 37 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	745.22	−0.072%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0032%	1h	744.96	−0.107%	$481K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.90	+0.019%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.45	−0.042%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.66	−0.013%	$24.9M	$188.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.37	−0.052%	$7.4M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.48	−0.038%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.81	−0.127%	$464K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.53	−0.031%	$5.6M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.90	−0.116%	$2.4M	$3.1M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	745.02	−0.099%	$13K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.26	−0.067%	$780	$8.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.17	−0.079%	$34K	$274K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.43	−0.044%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.48	−0.038%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.21	−0.074%	$2.2M	$13.8M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.90	+0.019%	$791K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.88	−0.118%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.72	−0.005%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.46	−0.040%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.09	−0.090%	$579K	$572K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.42	−0.046%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.54	−0.164%	$696K	$5.1M	10x	as long as short
Paradex META-USD-PERPshort	+0.0057%	8h	745.13	−0.084%	—	—	5x
Aftermath Perps METAUSD	+0.0086%	1h	745.77	+0.001%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.46	−0.040%	$1.6M	$696K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.28	−0.198%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.63	−0.017%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.45	−0.042%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.73	−0.138%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.19	+0.192%	$172K	$46K	30x	as long as short
Hotstuff META-PERPlong	+0.0376%	1h	745.76	long leg	$33K	$105	20x
Lighter META	+0.0384%	1h	746.11	+0.047%	$1.1M	$2.8M	20x	as long as short
edgeX METAUSDC	+0.0467%	4h	744.89	−0.116%	$62K	$343K	10x	as long as short
tradeXYZ xyz:META	+0.0493%	1h	746.05	+0.039%	$78.4M	$128.1M	20x	as long as short
Phoenix META	+0.0739%	1h	746.07	+0.042%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	745.30	−0.062%	$13	$106	10x	as long as short