Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0246%/8h= +26.9% APRpaid last 24h +0.053%

Price spread now: tradeXYZ against SunX+0.020%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$840.838% of the position

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.178%+$18 on $10k

Price spread, last 3 days (all we have)−0.146%−$15 · spread now +0.020%, 7d avg −0.045%

Together, before fees+0.032%+ Points / potential airdroptradeXYZ: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and tradeXYZ is 0.066% dearer against SunX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.045%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	739.98	0	get 0.0000% / 8h	6h 16m	$887	$9.2M	20x
Short	tradeXYZ xyz:META	740.13	0.0246	get 0.0031% / 1h	16m 02s	$68.3M	$120.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.020%Rate

Funding earned: $51.62
Price spread: +0.020% → −0.045%: $6.56
Slippage, 4 orders: −$57.84
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$25.65
Costs to cover: 0.838%
Break-even: 10.5 days

Slippage from SunX: live order book, 13 min ago; tradeXYZ: live order book, 4 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, 13 min ago	28.16 bp	32.2 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 4 min ago	0.41 bp	9.7 bp −$10	10.4 bp −$104	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0121%	1h	739.91	−0.010%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.61	+0.086%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.97	−0.001%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.10	+0.016%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.95	−0.004%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.25	+0.036%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.92	−0.008%	$352K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.28	+0.041%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.06	+0.011%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.16	+0.024%	$12K	$433K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDTlong	0.0000%	8h	739.98	long leg	$887	$9.2M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.42	−0.076%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.00	+0.003%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.23	+0.034%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.03	+0.007%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.29	+0.042%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.77	−0.028%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.36	+0.051%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.15	+0.023%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.86	−0.016%	$557K	$701K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.12	+0.019%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.55	−0.058%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	740.04	+0.008%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	740.89	+0.122%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.18	+0.027%	$1.6M	$485K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.74	−0.032%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.09	+0.015%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.97	−0.001%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.092%	$609K	$7.2M	10x	as long as short
Lighter META	+0.0136%	1h	740.23	+0.034%	$860K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0136%	1h	740.28	+0.041%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.42	+0.330%	$171K	$48K	30x	as long as short
tradeXYZ xyz:METAshort	+0.0246%	1h	740.13	+0.020%	$68.3M	$120.0M	20x
Phoenix META	+0.0313%	1h	740.85	+0.118%	$434K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0949%	4h	739.98	0.000%	$62K	$336K	10x	as long as short