Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0376%/8h= −41.2% APRpaid last 24h −0.003%

Price spread now: Variational Omni against Hotstuff+0.045%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.045% dearer against Hotstuff than usual: you sell high and buy low (spread +0.045% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff META-PERP	744.87	0.0376	pay 0.0047% / 1h	36m 55s	$33K	$105	20x
Short	Variational Omni META	745.20	0	get 0.0000% / 8h	1h 36m	$2.4M	$3.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.045%Rate

Funding earned: −$78.96
Price spread: +0.045% → 0.000%: $4.49
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$79.47
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 2 min ago	2.88 bp	doesn't fit	13.0 bp −$130	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 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	744.07	−0.107%	$333K	$1.1M	20x	as long as short
Nado META-PERP	−0.0025%	1h	743.93	−0.126%	$482K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.10	+0.031%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.89	−0.131%	$552K	$2.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.12	−0.101%	$25.2M	$187.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.88	−0.133%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.15	−0.097%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.78	−0.146%	$458K	$6.1M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.07	−0.107%	$5.5M	$12.3M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	745.20	+0.045%	$2.4M	$3.3M	—

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	745.38	+0.068%	$13K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.93	−0.126%	$684	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.67	−0.161%	$34K	$274K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.88	−0.133%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.27	+0.054%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.05	−0.110%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	744.45	−0.056%	$786K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.55	−0.043%	$109K	$333K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.67	−0.027%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.13	−0.099%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.76	−0.149%	$585K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.13	−0.099%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.00	−0.117%	$711K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0063%	8h	744.09	−0.104%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.01	+0.019%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.18	−0.093%	$1.6M	$676K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.58	−0.039%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.21	−0.089%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.06	−0.109%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.27	−0.081%	$647K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.64	+0.506%	$173K	$46K	30x	as long as short
Hotstuff META-PERPlong	+0.0376%	1h	744.87	long leg	$33K	$105	20x
Lighter META	+0.0376%	1h	744.49	−0.051%	$1.1M	$2.7M	20x	as long as short
tradeXYZ xyz:META	+0.0513%	1h	744.51	−0.048%	$77.1M	$127.3M	20x	as long as short
Phoenix META	+0.0739%	1h	746.28	+0.189%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0771%	4h	744.98	+0.015%	$62K	$343K	10x	as long as short
Pacifica META	+0.0800%	1h	744.23	−0.086%	—	—	—	as long as short