Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0168%/8h= −18.4% APRpaid last 24h −0.056%

Price spread now: BloFin against Popdex−0.011%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$260.260% of the position

Long on Popdex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.240%−$24 on $10k

Price spread, last 4 days (all we have)+0.440%+$44 · spread now −0.011%, 7d avg +0.008%

Together, before fees+0.200%+$20 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: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex METAUSDT	742.18	0.0048	pay 0.0006% / 1h	26m 34s	$179K	$204K	20x
Short	BloFin META-USDT	742.10	−0.0120	pay 0.0120% / 8h	7h 26m	$335K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Popdex. 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 PopdexbpFee BloFinbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$35.28
Price spread: −0.011% → +0.008%: −$1.93
Slippage, 4 orders: −$7.58
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$63.18
Costs to cover: 0.260%
Break-even: never at this rate

Slippage from Popdex: live order book, 7 min ago; BloFin: live order book, 1 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 Popdex live order book, 7 min ago	0.67 bp	4.3 bp −$4	9.5 bp −$95	doesn't fit	doesn't fit
Sell BloFin live order book, 1 min ago	1.35 bp	8.8 bp −$9	12.0 bp −$120	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	742.10	−0.011%	$335K	$1.1M	20x
Nado META-PERP	−0.0009%	1h	742.06	−0.016%	$477K	$560K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.00	+0.110%	$487K	$603K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.82	−0.049%	$544K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.09	−0.012%	$25.9M	$191.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.86	−0.043%	$7.5M	$15.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.57	−0.082%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.70	−0.065%	$481K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.80	−0.051%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	743.94	+0.237%	$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	+0.245%	$12K	$437K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.18	0.000%	$827	$7.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.68	−0.067%	$43K	$269K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.83	−0.047%	$107K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.68	+0.067%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.19	+0.001%	$792K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	741.73	−0.061%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.55	−0.085%	$111K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.67	+0.066%	—	$12K	25x	as long as short
Popdex METAUSDTlong	+0.0048%	1h	742.18	long leg	$179K	$204K	20x
Polymarket Perps META-USD	+0.0050%	1h	741.65	−0.071%	$564K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.07	−0.015%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.50	−0.092%	$737K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	741.68	−0.067%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	742.93	+0.101%	$51K	$93K	10x	as long as short
Pacifica META	+0.0100%	1h	741.95	−0.032%	$605	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.41	+0.031%	$1.6M	$771K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.23	+0.141%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.58	+0.054%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.38	+0.027%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	742.49	+0.042%	$640K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.70	+0.474%	$176K	$52K	30x	as long as short
Hotstuff META-PERP	+0.0280%	1h	742.25	+0.009%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	742.33	+0.020%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0299%	1h	742.27	+0.012%	$84.5M	$133.4M	20x	as long as short
edgeX METAUSDC	+0.0672%	4h	743.87	+0.228%	$63K	$348K	10x	as long as short
Phoenix META	+0.0791%	1h	744.68	+0.337%	$795K	$1.5M	20x	as long as short