Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0110%/8h= −12.0% APRpaid last 24h −0.038%

Price spread now: BloFin against Nado+0.020%7-day average +0.039% · 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−$39as in the Price arb table

costs, in and out, $10k−$370.373% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.075%−$7 on $10k

Price spread, last 4 days (all we have)+0.481%+$48 · spread now +0.020%, 7d avg +0.039%

Together, before fees+0.406%+ Points / potential airdropNado: Active · farm board+$41 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: −$3 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	743.50	−0.0010	get 0.0001% / 1h	28m 58s	$478K	$560K	20x
Short	BloFin META-USDT	743.65	−0.0120	pay 0.0120% / 8h	7h 28m	$336K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$23.1
Price spread: +0.020% → +0.039%: −$1.9
Slippage, 4 orders: −$18.33
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$62.33
Costs to cover: 0.373%
Break-even: never at this rate

Slippage from Nado: live order book, 4 min ago; BloFin: 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, 4 min ago	0.74 bp	9.1 bp −$9	42.2 bp −$422	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.13 bp	8.2 bp −$8	11.1 bp −$111	doesn't fit	doesn't fit

META on 37 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-USDTshort	−0.0120%	8h	743.65	+0.020%	$336K	$1.1M	20x
Nado META-PERPlong	−0.0010%	1h	743.50	long leg	$478K	$560K	20x
Aster METAUSDT	0.0000%	8h	744.00	+0.067%	$487K	$603K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.51	+0.002%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.78	+0.038%	$25.9M	$191.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.58	+0.011%	$7.4M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.50	0.000%	$6.1M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.26	−0.032%	$482K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.74	+0.032%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	743.94	+0.060%	$2.5M	$3.0M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.00	+0.067%	$12K	$437K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.99	+0.066%	$1K	$7.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.36	−0.019%	$44K	$269K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.49	−0.001%	$108K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.70	+0.027%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.76	+0.035%	$793K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.61	+0.015%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.41	−0.012%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.19	+0.093%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.59	+0.012%	$180K	$204K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.12	−0.051%	$565K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.62	+0.016%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.10	−0.054%	$742K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	743.72	+0.030%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	744.55	+0.141%	$51K	$93K	10x	as long as short
Pacifica META	+0.0100%	1h	743.42	−0.010%	$607	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.91	+0.055%	$1.6M	$770K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.23	−0.036%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.57	+0.010%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.45	−0.006%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	743.73	+0.031%	$635K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.70	+0.296%	$176K	$52K	30x	as long as short
Lighter META	+0.0288%	1h	743.94	+0.059%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0295%	1h	743.96	+0.062%	$84.7M	$133.2M	20x	as long as short
Hotstuff META-PERP	+0.0296%	1h	744.01	+0.069%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0672%	4h	743.87	+0.050%	$63K	$348K	10x	as long as short
Phoenix META	+0.0791%	1h	745.06	+0.210%	$795K	$1.5M	20x	as long as short