Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0009%/8h= +0.9% APRpaid last 24h +0.008%

Price spread now: Nado against HTX−0.033%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on HTX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.072%−$7 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now −0.033%, 7d avg −0.009%

Together, before fees−0.152%+ Points / potential airdropNado: Active · farm board−$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Nado is 0.025% cheaper against HTX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX META-USDT	744.45	0	get 0.0000% / 8h	2h 12m	$106K	$306K	30x
Short	Nado META-PERP	744.20	0.0009	get 0.0001% / 1h	12m 41s	$481K	$557K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against HTX. 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 HTXbpFee NadobpOrdersPrice spread, now −0.033%Rate

Funding earned: $1.79
Price spread: −0.033% → −0.009%: −$2.47
Slippage, 4 orders: −$21.16
Fee HTX: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$40.84
Costs to cover: 0.402%
Break-even: 167.1 days

Slippage from HTX: live order book, 34 min ago; Nado: live order book, 35 min ago.

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 HTX live order book, 34 min ago	2.68 bp	11.3 bp −$11	15.2 bp −$152	doesn't fit	doesn't fit
Sell Nado live order book, 35 min ago	0.60 bp	10.2 bp −$10	18.0 bp −$180	doesn't fit	doesn't fit

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	744.66	+0.028%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.85	+0.053%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.61	+0.022%	$544K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.48	+0.138%	$27.7M	$182.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.41	+0.129%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.87	+0.191%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.26	−0.026%	$439K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.93	+0.064%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	743.82	−0.084%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.06	−0.052%	$12K	$443K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	744.29	−0.021%	$744	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.28	−0.023%	$31K	$263K	10x	as long as short
HTX META-USDTlong	0.0000%	8h	744.45	long leg	$106K	$306K	30x
Phemex METAUSDT	0.0000%	4h	744.51	+0.008%	$2.0M	$8K	10x	as long as short
Nado META-PERPshort	+0.0009%	1h	744.20	−0.033%	$481K	$557K	20x
Lighter RH META	+0.0032%	1h	745.86	+0.189%	$766K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.64	−0.109%	$109K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.84	+0.052%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	744.30	−0.020%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.58	+0.017%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.32	−0.017%	$586K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.49	+0.005%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.21	−0.167%	$745K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0070%	8h	745.73	+0.172%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	744.48	+0.004%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.00	+0.074%	$1.6M	$655K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.53	−0.124%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.56	+0.015%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.33	−0.016%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.43	−0.137%	$654K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.01	+0.210%	$172K	$46K	30x	as long as short
Lighter META	+0.0304%	1h	746.01	+0.210%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	744.50	+0.007%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0448%	1h	746.05	+0.215%	$75.7M	$125.5M	20x	as long as short
edgeX METAUSDC	+0.0646%	4h	743.83	−0.083%	$62K	$342K	10x	as long as short
Phoenix META	+0.0685%	1h	744.89	+0.059%	$795K	$1.4M	20x	as long as short