Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0158%/8h= −17.3% APRpaid last 24h −0.046%

Price spread now: BloFin against QFEX−0.005%7-day average +0.012% · 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−$34as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.181%−$18 on $10k

Price spread, last 4 days (all we have)+0.159%+$16 · spread now −0.005%, 7d avg +0.012%

Together, before fees−0.022%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.012%, 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	QFEX META-USD	740.22	0.0038	pay 0.0005% / 1h	8m 34s	$2.2M	$13.9M	10x
Short	BloFin META-USDT	740.18	−0.0120	pay 0.0120% / 8h	5h 08m	$336K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$33.25
Price spread: −0.005% → +0.012%: −$1.78
Slippage, 4 orders: −$9.99
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$67.02
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; BloFin: 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 QFEX live order book, 4 min ago	1.82 bp	6.8 bp −$7	8.8 bp −$88	18.8 bp −$1,882	doesn't fit
Sell BloFin live order book, 2 min ago	0.27 bp	7.9 bp −$8	10.9 bp −$109	doesn't fit	doesn't fit

META on 37 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	739.90	−0.043%	$33K	$105	20x	as long as short
BloFin META-USDTshort	−0.0120%	8h	740.18	−0.005%	$336K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	740.00	−0.030%	$492K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.07	−0.020%	$545K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.33	+0.015%	$25.3M	$191.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.26	+0.005%	$7.5M	$16.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.40	+0.024%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.17	−0.007%	$467K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.28	+0.008%	$5.7M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.95	−0.037%	$2.6M	$3.1M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	740.13	−0.012%	$12K	$427K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.20	−0.003%	$982	$6.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.60	−0.084%	$36K	$208K	10x	as long as short
HTX META-USDT	0.0000%	8h	739.99	−0.031%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.22	0.000%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.49	+0.036%	$857K	$2.9M	20x	as long as short
QFEX META-USDlong	+0.0038%	1h	740.22	long leg	$2.2M	$13.9M	10x
Arcus META-USD	+0.0040%	1h	739.86	−0.049%	$111K	$291K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.24	+0.003%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.75	−0.063%	$558K	$595K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.08	−0.019%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.61	−0.082%	$755K	$5.1M	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	739.36	−0.116%	$647K	$7.3M	10x	as long as short
Paradex META-USD-PERP	+0.0068%	8h	740.18	−0.006%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	740.25	+0.004%	$53K	$86K	10x	as long as short
Pacifica META	+0.0100%	1h	739.54	−0.092%	$609	$3K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	739.89	−0.045%	$1.6M	$918K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	738.96	−0.170%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.07	−0.020%	$1K	$338	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.95	−0.037%	$266	—	10x	as long as short
Nado META-PERP	+0.0127%	1h	739.50	−0.097%	$474K	$535K	20x	as long as short
Popdex METAUSDT	+0.0144%	1h	740.39	+0.023%	$178K	$199K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.85	−0.050%	$167K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0322%	1h	740.16	−0.008%	$86.8M	$135.8M	20x	as long as short
Lighter META	+0.0368%	1h	740.49	+0.036%	$1.2M	$2.7M	20x	as long as short
Phoenix META	+0.0613%	1h	740.02	−0.027%	$790K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0660%	4h	739.72	−0.068%	$62K	$348K	10x	as long as short