Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0053%/8h= +5.8% APRpaid last 24h −0.008%

Price spread now: Bitget against QFEX+0.015%7-day average +0.029% · 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−$350.345% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$2 on $10k

Price spread, last 7 days−0.004%$0 · spread now +0.015%, 7d avg +0.029%

Together, before fees−0.019%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.029%, 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	QFEX META-USD	745.95	0.0046	pay 0.0006% / 1h	55m 11s	$2.2M	$13.8M	10x
Short	Bitget METAUSDT	746.06	0.0099	get 0.0099% / 8h	2h 55m	$5.5M	$11.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.015%Rate

Funding earned: $11.13
Price spread: +0.015% → +0.029%: −$1.43
Slippage, 4 orders: −$12.51
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$24.82
Costs to cover: 0.345%
Break-even: 22.6 days

Slippage from QFEX: live order book, 4 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 QFEX live order book, 4 min ago	2.01 bp	7.0 bp −$7	8.0 bp −$80	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	0.80 bp	11.5 bp −$11	20.9 bp −$209	43.2 bp −$4,324	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	746.09	+0.019%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.57	+0.083%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.79	−0.022%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.13	+0.024%	$28.4M	$181.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.99	+0.005%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.16	+0.028%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.51	−0.059%	$430K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	746.09	+0.019%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.62	+0.090%	$12K	$446K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.01	+0.008%	$903	$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	745.52	−0.058%	$31K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.95	0.000%	$106K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.46	+0.068%	$2.0M	$8K	10x	as long as short
Arcus META-USD	+0.0040%	1h	746.17	+0.029%	$111K	$331K	10x	as long as short
Nado META-PERP	+0.0045%	1h	745.40	−0.073%	$482K	$556K	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.30	+0.047%	—	$11K	25x	as long as short
QFEX META-USDlong	+0.0046%	1h	745.95	long leg	$2.2M	$13.8M	10x
Lighter RH META	+0.0048%	1h	746.18	+0.031%	$768K	$2.9M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.64	−0.042%	$587K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.95	0.000%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.31	−0.086%	$759K	$4.5M	10x	as long as short
Popdex METAUSDT	+0.0064%	1h	746.05	+0.013%	$179K	$199K	20x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	745.85	−0.014%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	746.88	+0.125%	$52K	$82K	10x	as long as short
Bitget METAUSDTshort	+0.0099%	8h	746.06	+0.015%	$5.5M	$11.9M	100x
KuCoin METAUSDTM	+0.0100%	8h	746.10	+0.020%	$1.6M	$630K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.87	−0.011%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.98	+0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.79	−0.021%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	+0.062%	$671K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.00	+0.409%	$173K	$46K	30x	as long as short
Lighter META	+0.0312%	1h	746.19	+0.032%	$958K	$2.5M	20x	as long as short
edgeX METAUSDC	+0.0383%	4h	746.75	+0.107%	$62K	$338K	10x	as long as short
Hotstuff META-PERP	+0.0432%	1h	746.68	+0.098%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0493%	1h	746.30	+0.047%	$72.4M	$122.4M	20x	as long as short
Phoenix META	+0.0633%	1h	748.29	+0.314%	$799K	$1.4M	20x	as long as short