Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0075%/8h= −8.2% APRpaid last 24h +0.017%

Price spread now: Nado against SunX−0.016%7-day average −0.046% · 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−$86as in the Price arb table

costs, in and out, $10k−$890.891% of the position

Long on SunX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.069%−$7 on $10k

Price spread, last 3 days (all we have)−0.134%−$13 · spread now −0.016%, 7d avg −0.046%

Together, before fees−0.203%+ Points / potential airdropNado: Active · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Nado is 0.029% dearer against SunX than usual: you sell high and buy low (spread −0.016% now, against its 7-day average of −0.046%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	743.51	0	get 0.0000% / 8h	43m 04s	$1K	$9.5M	20x
Short	Nado META-PERP	743.39	−0.0075	pay 0.0009% / 1h	43m 04s	$392K	$329K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.016%Rate

Funding earned: −$15.81
Price spread: −0.016% → −0.046%: $2.95
Slippage, 4 orders: −$74.13
Fee SunX: 4 bp × 2 orders: −$8
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$102
Costs to cover: 0.891%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; Nado: 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 SunX live order book, 6 min ago	28.32 bp	32.3 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 35 min ago	0.14 bp	10.8 bp −$11	34.6 bp −$346	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	743.69	+0.024%	$327K	$1.1M	20x	as long as short
Nado META-PERPshort	−0.0075%	1h	743.39	−0.016%	$392K	$329K	20x
Aster METAUSDT	0.0000%	8h	743.14	−0.049%	$459K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.55	+0.005%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.69	+0.024%	$27.4M	$179.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.70	+0.026%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.79	+0.038%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.28	−0.031%	$345K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.65	+0.019%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	743.70	+0.026%	$2.3M	$3.2M	—	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	743.67	+0.021%	$12K	$486K	10x	as long as short
SunX META-USDTlong	0.0000%	8h	743.51	long leg	$1K	$9.5M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.50	−0.001%	$30K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.42	−0.012%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.60	+0.012%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	743.57	+0.008%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	743.98	+0.063%	$760K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.24	−0.036%	$110K	$475K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.03	+0.070%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.70	+0.026%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.62	+0.015%	$543K	$841K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.69	+0.024%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.01	−0.067%	$780K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	743.60	+0.012%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0061%	1h	744.05	+0.073%	$52K	$72K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	743.28	−0.031%	$610K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.29	−0.030%	$1.6M	$378K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.24	−0.036%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.73	+0.030%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.57	+0.008%	$268	—	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	743.80	+0.039%	$33K	$105	20x	as long as short
Phoenix META	+0.0129%	1h	743.73	+0.030%	$292K	$797K	20x	as long as short
Lighter META	+0.0136%	1h	743.94	+0.058%	$865K	$2.6M	20x	as long as short
tradeXYZ xyz:META	+0.0214%	1h	743.92	+0.055%	$67.6M	$122.3M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.22	+0.230%	$170K	$46K	30x	as long as short
edgeX METAUSDC	+0.0937%	4h	743.66	+0.021%	$62K	$333K	10x	as long as short