Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0360%/8h= +39.4% APRpaid last 24h +0.028%

Price spread now: Hotstuff against SunX+0.046%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Hotstuff is 0.046% dearer against SunX than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	743.84	0	get 0.0000% / 8h	2h 19m	$675	$8.4M	20x
Short	Hotstuff META-PERP	744.18	0.0360	get 0.0045% / 1h	19m 34s	$33K	$105	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against SunX. 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 SunXbpFee HotstuffbpOrdersPrice spread, now +0.046%Rate

Funding earned: $75.6
Price spread: +0.046% → 0.000%: $4.57
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $67.17
Costs to cover: 0.130%
Break-even: 0.8 days

Slippage unknown: SunX: live order book, 10 min ago; Hotstuff: no order-book sample. Net counts fees only.

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 SunX live order book, 10 min ago	28.20 bp	32.2 bp −$32	61.2 bp −$612	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	743.71	−0.017%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.01	+0.023%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.66	−0.024%	$544K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.69	−0.020%	$27.6M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.60	−0.032%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.94	+0.013%	$6.0M	$12.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.23	−0.082%	$440K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.87	+0.004%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	743.58	−0.035%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.85	+0.001%	$13K	$442K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDTlong	0.0000%	8h	743.84	long leg	$675	$8.4M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.40	−0.059%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.44	−0.054%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.80	−0.005%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0012%	1h	743.58	−0.034%	$481K	$558K	20x	as long as short
Lighter RH META	+0.0032%	1h	743.89	+0.007%	$756K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.34	−0.067%	$109K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.05	+0.028%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.76	−0.011%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.89	+0.007%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.40	−0.059%	$585K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.62	−0.030%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.26	−0.078%	$740K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0072%	8h	743.76	−0.010%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	744.34	+0.067%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.65	−0.026%	$1.6M	$650K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.10	−0.099%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.56	−0.038%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.39	−0.061%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.58	−0.035%	$655K	$7.8M	10x	as long as short
edgeX METAUSDC	+0.0187%	4h	743.65	−0.026%	$62K	$340K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.01	+0.292%	$172K	$46K	30x	as long as short
Lighter META	+0.0304%	1h	743.99	+0.020%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERPshort	+0.0360%	1h	744.18	+0.046%	$33K	$105	20x
tradeXYZ xyz:META	+0.0444%	1h	744.24	+0.054%	$75.1M	$125.1M	20x	as long as short
Phoenix META	+0.0685%	1h	744.88	+0.140%	$795K	$1.4M	20x	as long as short