Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.004%

Price spread now: OKX against QFEX+0.001%7-day average +0.025% · 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−$34as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on QFEX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 7 days−0.008%−$1 · spread now +0.001%, 7d avg +0.025%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and OKX is 0.024% cheaper against QFEX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX META-USD	740.44	0.0012	pay 0.0002% / 1h	1m 19s	$2.2M	$14.2M	10x
Short	OKX META-USDT-SWAP	740.45	0	get 0.0000% / 8h	2h 01m	$6.0M	$13.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$2.54
Price spread: +0.001% → +0.025%: −$2.39
Slippage, 4 orders: −$11.81
Fee QFEX: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$36.73
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from QFEX: live order book, 13 min ago; OKX: 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, 13 min ago	1.28 bp	6.3 bp −$6	6.9 bp −$69	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.68 bp	10.4 bp −$10	21.3 bp −$213	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	740.47	+0.004%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0103%	1h	740.29	−0.020%	$397K	$317K	20x	as long as short
Hotstuff META-PERP	−0.0040%	1h	740.66	+0.030%	$33K	$105	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.96	+0.070%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.46	+0.003%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.53	+0.012%	$26.9M	$177.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.52	+0.011%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	740.45	+0.001%	$6.0M	$13.1M	20x
Gate META_USDT	0.0000%	8h	739.98	−0.062%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.58	+0.019%	$5.8M	$11.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.46	+0.003%	$1.6M	$2.5M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.42	−0.003%	$12K	$521K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.96	+0.070%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.55	+0.015%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.35	−0.012%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.50	+0.008%	$2.0M	$8K	10x	as long as short
QFEX META-USDlong	+0.0012%	1h	740.44	long leg	$2.2M	$14.2M	10x
Lighter META	+0.0032%	1h	740.73	+0.039%	$860K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	740.74	+0.041%	$748K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.29	−0.020%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.91	+0.063%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.52	+0.011%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.62	+0.024%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.43	−0.001%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.38	−0.008%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.24	−0.027%	$649K	$4.0M	10x	as long as short
Aftermath Perps METAUSD	+0.0052%	1h	741.03	+0.080%	$45K	$61K	10x	as long as short
tradeXYZ xyz:META	+0.0053%	1h	740.70	+0.035%	$68.5M	$120.6M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	740.26	−0.024%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.62	+0.024%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.32	−0.016%	$1.6M	$354K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.21	−0.031%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.50	+0.008%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.34	−0.013%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.24	−0.027%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0972%	4h	740.41	−0.004%	$62K	$330K	10x	as long as short