Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.012%

Price spread now: QFEX against HTX+0.039%7-day average +0.019% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$330.333% of the position

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 3 days (all we have)−0.121%−$12 · spread now +0.039%, 7d avg +0.019%

Together, before fees−0.104%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and QFEX is 0.020% dearer against HTX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX META-USDT	740.27	0	get 0.0000% / 8h	7h 55m	$107K	$285K	30x
Short	QFEX META-USD	740.56	0.0055	get 0.0007% / 1h	55m 59s	$2.2M	$14.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.039%Rate

Funding earned: $11.59
Price spread: +0.039% → +0.019%: $2.05
Slippage, 4 orders: −$11.34
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$19.7
Costs to cover: 0.333%
Break-even: 18.9 days

Slippage from HTX: live order book, 16 min ago; QFEX: live order book, 8 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, 16 min ago	2.70 bp	11.4 bp −$11	17.8 bp −$178	doesn't fit	doesn't fit
Sell QFEX live order book, 8 min ago	1.62 bp	6.6 bp −$7	7.3 bp −$73	17.1 bp −$1,710	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	740.72	+0.061%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.93	+0.089%	$461K	$546K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.31	+0.005%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.38	+0.015%	$27.4M	$179.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.36	+0.012%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.41	+0.019%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.19	−0.011%	$354K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.45	+0.024%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	740.51	+0.032%	$2.3M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.01	+0.100%	$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	740.75	+0.065%	$696	$9.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.21	−0.008%	$30K	$254K	10x	as long as short
HTX META-USDTlong	0.0000%	8h	740.27	long leg	$107K	$285K	30x
Phemex METAUSDT	0.0000%	4h	740.92	+0.088%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0003%	1h	740.14	−0.017%	$384K	$332K	20x	as long as short
Lighter RH META	+0.0032%	1h	740.73	+0.062%	$760K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.81	+0.073%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.51	+0.032%	$178K	$194K	20x	as long as short
SoDEX META-USD	+0.0050%	1h	740.44	+0.023%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.93	−0.046%	$746K	$4.3M	10x	as long as short
QFEX META-USDshort	+0.0055%	1h	740.56	+0.039%	$2.2M	$14.3M	10x
Arcus META-USD	+0.0063%	1h	740.57	+0.041%	$110K	$331K	10x	as long as short
Aftermath Perps METAUSD	+0.0072%	1h	740.86	+0.080%	$50K	$77K	10x	as long as short
Paradex META-USD-PERP	+0.0073%	8h	740.38	+0.015%	—	—	5x	as long as short
Polymarket Perps META-USD	+0.0080%	1h	740.32	+0.007%	$558K	$857K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.70	+0.058%	$1.6M	$409K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.44	+0.023%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.51	+0.032%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.23	−0.006%	$266	—	10x	as long as short
Phoenix META	+0.0129%	1h	741.01	+0.100%	$291K	$797K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	740.52	+0.034%	$608K	$7.3M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.31	+0.005%	$168K	$46K	30x	as long as short
tradeXYZ xyz:META	+0.0250%	1h	740.33	+0.008%	$67.7M	$122.9M	20x	as long as short
Hotstuff META-PERP	+0.0256%	1h	740.33	+0.008%	$33K	$105	20x	as long as short
Lighter META	+0.0272%	1h	740.79	+0.070%	$858K	$2.4M	20x	as long as short
edgeX METAUSDC	+0.0910%	4h	740.71	+0.060%	$62K	$335K	10x	as long as short