Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0018%/8h= +1.9% APRpaid last 24h −0.006%

Price spread now: Bitget against Nado+0.031%7-day average +0.030% · 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−$36as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on Nado Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.076%+$8 on $10k

Price spread, last 4 days (all we have)+0.208%+$21 · spread now +0.031%, 7d avg +0.030%

Together, before fees+0.284%+ Points / potential airdropNado: Active · farm board+$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.030%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado META-PERP	742.08	−0.0018	get 0.0002% / 1h	25m 06s	$480K	$553K	20x
Short	Bitget METAUSDT	742.31	0	get 0.0000% / 8h	4h 25m	$5.3M	$11.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Nado. 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 NadobpFee BitgetbpOrdersPrice spread, now +0.031%Rate

Funding earned: $3.69
Price spread: +0.031% → +0.030%: $0.11
Slippage, 4 orders: −$16.98
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$32.18
Costs to cover: 0.360%
Break-even: 68.1 days

Slippage from Nado: live order book, 33 min ago; Bitget: live order book, 3 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 Nado live order book, 33 min ago	0.47 bp	12.6 bp −$13	93.6 bp −$936	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.81 bp	9.8 bp −$10	19.8 bp −$198	37.3 bp −$3,730	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	742.33	+0.034%	$329K	$1.1M	20x	as long as short
Nado META-PERPlong	−0.0018%	1h	742.08	long leg	$480K	$553K	20x
Aster METAUSDT	0.0000%	8h	742.37	+0.039%	$468K	$552K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.19	+0.016%	$549K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.37	+0.040%	$27.6M	$180.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.26	+0.025%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.14	+0.009%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.95	−0.017%	$364K	$5.7M	100x	as long as short
Bitget METAUSDTshort	0.0000%	8h	742.31	+0.031%	$5.3M	$11.7M	100x
Variational Omni META	0.0000%	8h	742.05	−0.004%	$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	741.87	−0.028%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.41	+0.045%	$880	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.91	−0.022%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.19	+0.015%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.34	+0.035%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.50	+0.057%	$770K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.31	+0.031%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.70	−0.051%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.58	+0.068%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.33	+0.034%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.07	−0.001%	$584K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.28	+0.027%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.31	−0.103%	$764K	$4.4M	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	742.14	+0.008%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0082%	1h	742.57	+0.066%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.46	+0.052%	$1.6M	$547K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.10	−0.132%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.34	+0.035%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.14	+0.008%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	741.90	−0.024%	$625K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0168%	1h	742.11	+0.004%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.60	−0.064%	$171K	$48K	30x	as long as short
Lighter META	+0.0256%	1h	742.46	+0.052%	$858K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0294%	1h	742.44	+0.049%	$69.6M	$120.4M	20x	as long as short
Phoenix META	+0.0591%	1h	742.78	+0.095%	$678K	$1.2M	20x	as long as short
edgeX METAUSDC	+0.0626%	4h	741.97	−0.014%	$62K	$336K	10x	as long as short