Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0281%/8h= +30.8% APRpaid last 24h +0.054%

Price spread now: tradeXYZ against HTX−0.008%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on HTX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.184%+$18 on $10k

Price spread, last 4 days (all we have)−0.217%−$22 · spread now −0.008%, 7d avg −0.008%

Together, before fees−0.033%+ Points / potential airdroptradeXYZ: Active · farm board−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.184% in total (about 9.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX META-USDT	743.94	0	get 0.0000% / 8h	4h 13m	$106K	$296K	30x
Short	tradeXYZ xyz:META	743.88	0.0281	get 0.0035% / 1h	13m 09s	$69.6M	$120.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.008%Rate

Funding earned: $59
Price spread: −0.008% → −0.008%: $0.01
Slippage, 4 orders: −$7.83
Fee HTX: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $21.18
Costs to cover: 0.378%
Break-even: 4.5 days

Slippage from HTX: live order book, 44 min ago; tradeXYZ: live order book, 5 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, 44 min ago	2.69 bp	10.0 bp −$10	19.1 bp −$191	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	0.07 bp	10.1 bp −$10	doesn't fit	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	743.99	+0.007%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0016%	1h	743.30	−0.085%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.17	−0.104%	$468K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.70	−0.032%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.00	+0.008%	$28.0M	$182.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.93	−0.001%	$7.6M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.01	+0.009%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.34	−0.081%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.93	−0.001%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	743.81	−0.017%	$2.4M	$3.1M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.01	+0.009%	$13K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.91	−0.004%	$848	$9.1M	20x	as long as short
HTX META-USDTlong	0.0000%	8h	743.94	long leg	$106K	$296K	30x
Phemex METAUSDT	0.0000%	4h	743.90	−0.005%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.87	−0.009%	$775K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.76	−0.024%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.55	−0.052%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.82	−0.016%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.97	+0.004%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.50	−0.059%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.91	−0.004%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.32	−0.083%	$800K	$4.5M	10x	as long as short
Paradex META-USD-PERP	+0.0074%	8h	743.78	−0.022%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	744.36	+0.057%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.84	−0.013%	$1.6M	$551K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.11	−0.112%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.80	−0.019%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.62	−0.043%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	−0.024%	$615K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0168%	1h	743.97	+0.004%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.67	+0.367%	$172K	$48K	30x	as long as short
Deribit META_USDC-PERPETUAL	+0.0261%	1h	743.42	−0.070%	$31K	$246K	10x	as long as short
Lighter META	+0.0264%	1h	743.85	−0.012%	$865K	$2.5M	20x	as long as short
tradeXYZ xyz:METAshort	+0.0281%	1h	743.88	−0.008%	$69.6M	$120.7M	20x
edgeX METAUSDC	+0.0485%	4h	743.87	−0.009%	$62K	$338K	10x	as long as short
Phoenix META	+0.0591%	1h	744.70	+0.102%	$705K	$1.2M	20x	as long as short