Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.012%

Price spread now: Aster against QFEX+0.017%7-day average +0.065% · 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−$142as in the Price arb table

costs, in and out, $10k−$1371.374% of the position

Long on QFEX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.086%−$9 · spread now +0.017%, 7d avg +0.065%

Together, before fees−0.105%+ Points / potential airdropAster: Stage 5 · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.048% cheaper against QFEX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX META-USD	746.42	0.0046	pay 0.0006% / 1h	55m 54s	$2.2M	$13.8M	10x
Short	Aster METAUSDT	746.55	0	get 0.0000% / 8h	2h 55m	$492K	$577K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against QFEX. 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 QFEXbpFee AsterbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$9.66
Price spread: +0.017% → +0.065%: −$4.84
Slippage, 4 orders: −$119.38
Fee QFEX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$151.88
Costs to cover: 1.374%
Break-even: never at this rate

Slippage from QFEX: live order book, 8 min ago; Aster: live order book, 57 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 QFEX live order book, 8 min ago	1.80 bp	6.8 bp −$7	8.5 bp −$85	doesn't fit	doesn't fit
Sell Aster live order book, 57 min ago	13.36 bp	26.7 bp −$27	63.5 bp −$635	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	746.59	+0.023%	$333K	$1.1M	20x	as long as short
Aster METAUSDTshort	0.0000%	8h	746.55	+0.017%	$492K	$577K	20x
Extended META_24_5-USD	0.0000%	1h	745.81	−0.081%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.03	−0.052%	$28.4M	$181.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.84	−0.078%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.01	−0.055%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.48	−0.126%	$430K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	746.09	−0.044%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.03	+0.082%	$13K	$444K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.43	+0.001%	$1K	$8.6M	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	745.35	−0.143%	$31K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.89	−0.071%	$106K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.46	+0.005%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.12	−0.040%	$768K	$2.9M	20x	as long as short
Nado META-PERP	+0.0032%	1h	746.20	−0.029%	$482K	$556K	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.39	−0.004%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.76	+0.046%	—	$11K	25x	as long as short
QFEX META-USDlong	+0.0046%	1h	746.42	long leg	$2.2M	$13.8M	10x
Polymarket Perps META-USD	+0.0050%	1h	746.02	−0.054%	$587K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.18	−0.032%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.67	−0.100%	$759K	$4.6M	10x	as long as short
Popdex METAUSDT	+0.0064%	1h	746.51	+0.012%	$180K	$199K	20x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	746.34	−0.011%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	747.43	+0.135%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.18	−0.032%	$1.6M	$630K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.83	−0.079%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.08	−0.046%	$1K	$24	10x	as long as short
Bitget METAUSDT	+0.0103%	8h	746.00	−0.056%	$5.5M	$11.9M	100x	as long as short
Aevo META-PERP	+0.0104%	1h	745.97	−0.061%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	−0.001%	$671K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.00	+0.346%	$173K	$46K	30x	as long as short
Lighter META	+0.0280%	1h	746.12	−0.040%	$946K	$2.5M	20x	as long as short
edgeX METAUSDC	+0.0362%	4h	746.93	+0.068%	$62K	$340K	10x	as long as short
Hotstuff META-PERP	+0.0440%	1h	747.30	+0.118%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0480%	1h	746.31	−0.015%	$72.4M	$122.4M	20x	as long as short
Phoenix META	+0.0633%	1h	748.29	+0.251%	$799K	$1.4M	20x	as long as short