Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.013%

Price spread now: HTX against QFEX+0.027%7-day average −0.019% · 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−$28as in the Price arb table

costs, in and out, $10k−$330.325% of the position

Long on QFEX Short on HTX

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)+0.251%+$25 · spread now +0.027%, 7d avg −0.019%

Together, before fees+0.232%+$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.046% dearer against QFEX than usual: you sell high and buy low (spread +0.027% now, against its 7-day average of −0.019%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX META-USD	742.01	0.0032	pay 0.0004% / 1h	30m 15s	$2.1M	$13.7M	10x
Short	HTX META-USDT	742.21	0	get 0.0000% / 8h	5h 30m	$106K	$296K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.027%Rate

Funding earned: −$6.77
Price spread: +0.027% → −0.019%: $4.61
Slippage, 4 orders: −$10.54
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$34.7
Costs to cover: 0.325%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; HTX: live order book, 32 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	1.89 bp	6.9 bp −$7	8.1 bp −$81	doesn't fit	doesn't fit
Sell HTX live order book, 32 min ago	2.70 bp	8.7 bp −$9	11.9 bp −$119	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	742.00	−0.001%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0033%	1h	741.90	−0.015%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.95	−0.009%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.09	+0.010%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.32	+0.042%	$27.4M	$179.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.07	+0.008%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.50	+0.066%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.92	−0.012%	$346K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.36	+0.047%	$5.5M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	742.15	+0.019%	$2.3M	$3.1M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	741.50	−0.069%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.51	+0.067%	$999	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.74	−0.036%	$31K	$245K	10x	as long as short
HTX META-USDTshort	0.0000%	8h	742.21	+0.027%	$106K	$296K	30x
Phemex METAUSDT	0.0000%	4h	742.20	+0.026%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.51	+0.067%	$765K	$3.0M	20x	as long as short
QFEX META-USDlong	+0.0032%	1h	742.01	long leg	$2.1M	$13.7M	10x
Arcus META-USD	+0.0040%	1h	741.31	−0.094%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.16	+0.020%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.30	+0.039%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.04	+0.004%	$559K	$539K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.37	+0.049%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.38	−0.085%	$703K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	742.06	+0.007%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	742.21	+0.027%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.64	−0.050%	$628K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.01	0.000%	$1.6M	$515K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.62	−0.187%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.22	+0.028%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.14	+0.018%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.40	−0.082%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0248%	1h	742.01	0.000%	$33K	$105	20x	as long as short
Lighter META	+0.0256%	1h	742.43	+0.057%	$862K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0339%	1h	742.34	+0.044%	$69.3M	$120.1M	20x	as long as short
Phoenix META	+0.0496%	1h	742.27	+0.035%	$534K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0680%	4h	741.29	−0.097%	$62K	$337K	10x	as long as short