Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0052%/8h= +5.6% APRpaid last 24h −0.013%

Price spread now: OKX against Nado+0.040%7-day average +0.026% · 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−$41as in the Price arb table

costs, in and out, $10k−$430.428% of the position

Long on Nado Short on OKX

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 3 days (all we have)+0.133%+$13 · spread now +0.040%, 7d avg +0.026%

Together, before fees+0.209%+ Points / potential airdropNado: Active · farm board+$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.026%, so right now this pair is about funding alone: +$2 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	741.90	−0.0052	get 0.0006% / 1h	6m 31s	$392K	$328K	20x
Short	OKX META-USDT-SWAP	742.20	0	get 0.0000% / 8h	1h 06m	$6.0M	$13.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.040%Rate

Funding earned: $10.83
Price spread: +0.040% → +0.026%: $1.39
Slippage, 4 orders: −$25.77
Fee Nado: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$30.54
Costs to cover: 0.428%
Break-even: 26.7 days

Slippage from Nado: live order book, 11 min ago; OKX: live order book, 2 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, 11 min ago	0.14 bp	13.7 bp −$14	28.5 bp −$285	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.07 bp	9.1 bp −$9	18.0 bp −$180	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	742.29	+0.052%	$327K	$1.1M	20x	as long as short
Nado META-PERPlong	−0.0052%	1h	741.90	long leg	$392K	$328K	20x
Aster METAUSDT	0.0000%	8h	741.83	−0.009%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.09	+0.025%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.22	+0.042%	$27.2M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.08	+0.024%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	742.20	+0.040%	$6.0M	$13.2M	20x
Gate META_USDT	0.0000%	8h	741.86	−0.006%	$350K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.16	+0.035%	$5.8M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	742.23	+0.044%	$2.1M	$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	742.18	+0.037%	$12K	$499K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.10	+0.026%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.10	+0.026%	$30K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.12	+0.029%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.38	+0.064%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	742.04	+0.018%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	742.41	+0.068%	$760K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.80	−0.014%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.33	+0.057%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.26	+0.048%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.24	+0.045%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.19	+0.039%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.85	−0.007%	$721K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0052%	8h	742.10	+0.027%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0058%	1h	742.51	+0.082%	$53K	$69K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	742.12	+0.029%	$606K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	741.81	−0.013%	$291K	$791K	20x	as long as short
Hotstuff META-PERP	+0.0080%	1h	742.28	+0.051%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.14	+0.032%	$1.6M	$370K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.64	−0.036%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.31	+0.055%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.17	+0.036%	$267	—	10x	as long as short
Lighter META	+0.0112%	1h	742.56	+0.089%	$864K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0136%	1h	742.32	+0.056%	$67.4M	$122.0M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.81	−0.013%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0539%	4h	742.29	+0.052%	$62K	$330K	10x	as long as short