Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.040%

Price spread now: Polymarket Perps against HTX−0.016%46s7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.338% of the position

Long on HTX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.134%+$13 on $10k

Price spread, last 3 days (all we have)−0.054%−$5 · spread now −0.016%, 7d avg +0.003%

Together, before fees+0.080%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX META-USDT	740.73	0	get 0.0000% / 8h	7h 59m	$107K	$285K	30x
Short	Polymarket Perps META-USD	740.61	0.0050	get 0.0006% / 1h	59m 35s	$558K	$857K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.016%Rate

Funding earned: $10.5
Price spread: −0.016% → +0.003%: −$1.96
Slippage, 4 orders: −$13.81
Fee HTX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$25.28
Costs to cover: 0.338%
Break-even: 23.9 days

Slippage from HTX: live order book, 12 min ago; Polymarket Perps: live order book, 13 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, 12 min ago	2.70 bp	11.4 bp −$11	17.8 bp −$178	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 13 min ago	1.42 bp	5.8 bp −$6	7.0 bp −$70	8.8 bp −$879	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	740.93	+0.027%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.99	+0.036%	$461K	$546K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.57	−0.022%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.22	+0.066%	$27.5M	$180.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.12	+0.053%	$7.5M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.87	+0.019%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.10	−0.085%	$354K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.66	−0.009%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	740.83	+0.014%	$2.3M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.01	+0.038%	$12K	$482K	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	740.51	−0.030%	$916	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.07	−0.089%	$30K	$258K	10x	as long as short
HTX META-USDTlong	0.0000%	8h	740.73	long leg	$107K	$285K	30x
Phemex METAUSDT	0.0000%	4h	741.15	+0.057%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	741.14	+0.055%	$2.2M	$14.4M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.88	+0.020%	$761K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.39	−0.046%	$110K	$451K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.18	+0.061%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.03	+0.041%	$178K	$201K	20x	as long as short
Polymarket Perps META-USDshort	+0.0050%	1h	740.61	−0.016%	$558K	$857K	10x
SoDEX META-USD	+0.0050%	1h	740.39	−0.046%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.75	−0.132%	$757K	$4.3M	10x	as long as short
Aftermath Perps METAUSD	+0.0074%	1h	741.38	+0.088%	$50K	$76K	10x	as long as short
Paradex META-USD-PERP	+0.0074%	8h	740.47	−0.035%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.35	+0.084%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.65	−0.011%	$1.6M	$408K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.44	−0.039%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.70	−0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.27	−0.062%	$266	—	10x	as long as short
Nado META-PERP	+0.0116%	1h	741.06	+0.045%	$385K	$332K	20x	as long as short
Phoenix META	+0.0129%	1h	741.01	+0.038%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0184%	1h	740.48	−0.034%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.21	+0.335%	$169K	$46K	30x	as long as short
tradeXYZ xyz:META	+0.0253%	1h	740.57	−0.022%	$67.7M	$122.8M	20x	as long as short
Lighter META	+0.0280%	1h	740.85	+0.016%	$858K	$2.4M	20x	as long as short
edgeX METAUSDC	+0.0622%	4h	740.96	+0.031%	$62K	$334K	10x	as long as short