Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.011%

Price spread now: QFEX against SunX−0.039%7-day average −0.016% · 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−$80as in the Price arb table

costs, in and out, $10k−$780.782% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.021%+$2 on $10k

Price spread, last 4 days (all we have)−0.057%−$6 · spread now −0.039%, 7d avg −0.016%

Together, before fees−0.036%−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.023% cheaper against SunX than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of −0.016%). If the spread goes back, that is −$2 on $10k: about 2.4 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	745.53	0	get 0.0000% / 8h	39m 04s	$811	$8.1M	20x
Short	QFEX META-USD	745.24	0.0031	get 0.0004% / 1h	39m 04s	$2.2M	$13.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $6.55
Price spread: −0.039% → −0.016%: −$2.25
Slippage, 4 orders: −$60.19
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$73.89
Costs to cover: 0.782%
Break-even: 85.9 days

Slippage from SunX: live order book, 10 min ago; QFEX: live order book, 5 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, 10 min ago	28.15 bp	32.1 bp −$32	61.2 bp −$612	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.95 bp	6.9 bp −$7	8.2 bp −$82	18.5 bp −$1,849	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	745.56	+0.004%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.13	−0.054%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.30	−0.030%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.49	−0.005%	$25.1M	$188.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.34	−0.025%	$7.5M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.65	+0.016%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.90	−0.085%	$466K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.46	−0.009%	$5.5M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	745.36	−0.023%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.53	0.000%	$12K	$436K	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-USDTlong	0.0000%	8h	745.53	long leg	$811	$8.1M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.03	−0.067%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.31	−0.030%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.38	−0.020%	$2.0M	$8K	10x	as long as short
QFEX META-USDshort	+0.0031%	1h	745.24	−0.039%	$2.2M	$13.9M	10x
Nado META-PERP	+0.0031%	1h	745.20	−0.044%	$480K	$560K	20x	as long as short
Lighter RH META	+0.0040%	1h	745.76	+0.031%	$789K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.93	−0.080%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.63	+0.013%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.54	+0.001%	$177K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.19	−0.046%	$565K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.45	−0.011%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.22	−0.042%	$729K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	745.44	−0.012%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.90	+0.050%	$48K	$89K	10x	as long as short
Pacifica META	+0.0100%	1h	745.11	−0.056%	$25	$189	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.15	−0.051%	$1.6M	$715K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.72	−0.109%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.50	−0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.35	−0.024%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.36	−0.023%	$644K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.51	+0.131%	$172K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0416%	1h	745.76	+0.031%	$33K	$105	20x	as long as short
Lighter META	+0.0456%	1h	745.99	+0.062%	$1.1M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0544%	1h	745.82	+0.039%	$81.1M	$129.6M	20x	as long as short
edgeX METAUSDC	+0.0621%	4h	745.42	−0.014%	$62K	$343K	10x	as long as short
Phoenix META	+0.0750%	1h	746.26	+0.098%	$797K	$1.5M	20x	as long as short