Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.113%

Price spread now: edgeX against QFEX−0.129%57s7-day average −0.005% · 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—prices read too far apart to compare

costs, in and out, $10k−$330.329% of the position

Long on QFEX Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.472%+$47 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now −0.129%, 7d avg −0.005%

Together, before fees+0.525%+ Points / potential airdropedgeX: Active · farm board+$53 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.123% cheaper against QFEX than usual: you would sell low and buy high (spread −0.129% now, against its 7-day average of −0.005%). If the spread goes back, that is −$12 on $10k: about 9.4 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.472% in total) that is about 24 hours. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX META-USD	745.58	0.0041	pay 0.0005% / 1h	58m 16s	$2.2M	$14.1M	10x
Short	edgeX METAUSDC	744.62	0.0085	get 0.0042% / 4h	2h 58m	$63K	$349K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.129%Rate

Funding earned: $9.18
Price spread: −0.129% → −0.005%: −$12.34
Slippage, 4 orders: −$13.91
Fee QFEX: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$36.07
Costs to cover: 0.329%
Break-even: 34.5 days

Slippage from QFEX: live order book, 6 min ago; edgeX: live order book, 35 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, 6 min ago	1.75 bp	6.7 bp −$7	7.3 bp −$73	doesn't fit	doesn't fit
Sell edgeX live order book, 35 min ago	5.11 bp	9.7 bp −$10	11.3 bp −$113	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-USDT	−0.0120%	8h	745.69	+0.015%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.01	−0.077%	$490K	$623K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.22	−0.048%	$546K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.27	−0.042%	$25.9M	$191.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.61	+0.004%	$7.7M	$15.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.47	−0.015%	$6.1M	$13.0M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.06	−0.070%	$447K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.33	−0.034%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	744.66	−0.124%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.78	−0.107%	$12K	$438K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.24	−0.046%	$719	$7.6M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.94	−0.086%	$36K	$269K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.46	−0.016%	$108K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.29	−0.039%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	745.45	−0.017%	$809K	$2.8M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.09	−0.066%	$111K	$324K	10x	as long as short
QFEX META-USDlong	+0.0041%	1h	745.58	long leg	$2.2M	$14.1M	10x
Vest META-USD-PERP	+0.0046%	1h	745.74	+0.021%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.41	−0.023%	$179K	$204K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.39	−0.025%	$567K	$614K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.31	−0.036%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.84	−0.099%	$719K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	745.31	−0.036%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	745.87	+0.040%	$51K	$91K	10x	as long as short
Nado META-PERP	+0.0082%	1h	744.94	−0.086%	$479K	$559K	20x	as long as short
edgeX METAUSDCshort	+0.0085%	4h	744.62	−0.129%	$63K	$349K	10x
Coinbase International META-PERP-INTX	+0.0096%	1h	744.97	−0.082%	$642K	$7.8M	10x	as long as short
Pacifica META	+0.0100%	1h	745.52	−0.008%	$608	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.22	−0.048%	$1.6M	$799K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.70	−0.252%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.38	−0.027%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.13	−0.061%	$268	—	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	745.81	+0.031%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.33	+0.101%	$176K	$52K	30x	as long as short
Lighter META	+0.0288%	1h	745.56	−0.003%	$1.2M	$2.6M	20x	as long as short
tradeXYZ xyz:META	+0.0292%	1h	745.52	−0.008%	$86.3M	$134.7M	20x	as long as short
Phoenix META	+0.0791%	1h	745.86	+0.038%	$796K	$1.5M	20x	as long as short