Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0260%/8h= +28.5% APRpaid last 24h −0.003%

Price spread now: Hotstuff against KuCoin+0.035%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Hotstuff

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 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Hotstuff is 0.035% dearer against KuCoin than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	746.37	0.0100	pay 0.0100% / 8h	3h 27m	$1.6M	$615K	20x
Short	Hotstuff META-PERP	746.63	0.0360	get 0.0045% / 1h	27m 50s	$33K	$105	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against KuCoin. 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 KuCoinbpFee HotstuffbpOrdersPrice spread, now +0.035%Rate

Funding earned: $54.6
Price spread: +0.035% → 0.000%: $3.48
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $41.08
Costs to cover: 0.170%
Break-even: 1.7 days

Slippage unknown: KuCoin: live order book, 3 min ago; Hotstuff: no order-book sample. 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 KuCoin live order book, 3 min ago	4.69 bp	26.8 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

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 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	746.61	+0.032%	$329K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.98	−0.052%	$470K	$555K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.96	−0.055%	$554K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.23	−0.019%	$28.5M	$183.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.30	−0.009%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.33	−0.005%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.93	−0.059%	$380K	$5.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.88	+0.069%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.98	+0.082%	$12K	$454K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.23	−0.019%	$915	$9.0M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.93	−0.059%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.26	−0.015%	$106K	$303K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.82	+0.060%	$2.0M	$8K	10x	as long as short
Bitget METAUSDT	+0.0002%	8h	746.33	−0.005%	$5.5M	$11.9M	100x	as long as short
Nado META-PERP	+0.0002%	1h	746.24	−0.018%	$482K	$554K	20x	as long as short
Lighter RH META	+0.0032%	1h	746.37	0.000%	$783K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.27	−0.013%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.98	+0.082%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.34	−0.004%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.30	−0.009%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.67	−0.094%	$792K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	746.44	+0.009%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0068%	8h	746.72	+0.046%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.08	+0.095%	$52K	$82K	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	746.37	long leg	$1.6M	$615K	20x
ApeX Omni METAUSDT	+0.0100%	1h	746.19	−0.024%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.37	0.000%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.30	−0.010%	$269	—	10x	as long as short
Popdex METAUSDT	+0.0128%	1h	746.52	+0.020%	$180K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.61	+0.032%	$640K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.37	+0.402%	$173K	$48K	30x	as long as short
Lighter META	+0.0280%	1h	746.36	−0.001%	$866K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0338%	1h	746.15	−0.029%	$70.4M	$121.1M	20x	as long as short
edgeX METAUSDC	+0.0341%	4h	747.13	+0.101%	$62K	$339K	10x	as long as short
Hotstuff META-PERPshort	+0.0360%	1h	746.63	+0.035%	$33K	$105	20x
Phoenix META	+0.0633%	1h	747.69	+0.177%	$798K	$1.4M	20x	as long as short