Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0368%/8h= +40.3% APRpaid last 24h −0.001%

Price spread now: Hotstuff against Binance+0.030%7-day average — · you sell dearer than you buy

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

Long on Binance 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 0.030% dearer against Binance than usual: you sell high and buy low: +$3 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	Binance METAUSDT	745.07	0	get 0.0000% / 8h	1h 12m	$24.9M	$188.0M	20x
Short	Hotstuff META-PERP	745.29	0.0368	get 0.0046% / 1h	12m 49s	$33K	$105	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Binance. 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 BinancebpFee HotstuffbpOrdersPrice spread, now +0.030%Rate

Funding earned: $77.28
Price spread: +0.030% → 0.000%: $2.95
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $65.23
Costs to cover: 0.150%
Break-even: 1.1 days

Slippage unknown: Binance: live order book, 16 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 Binance live order book, 16 min ago	0.07 bp	6.6 bp −$7	15.5 bp −$155	54.3 bp −$5,429	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 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	744.71	−0.048%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0040%	1h	744.49	−0.078%	$480K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.29	+0.029%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.83	−0.032%	$548K	$1.8M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	745.07	long leg	$24.9M	$188.0M	20x
Bybit METAUSDT	0.0000%	8h	744.81	−0.035%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.02	−0.007%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.53	−0.072%	$463K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.98	−0.012%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.70	−0.049%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.77	−0.040%	$13K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.59	−0.064%	$894	$8.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.44	−0.085%	$34K	$274K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.84	−0.031%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.93	−0.019%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.52	−0.074%	$2.2M	$13.8M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.13	+0.008%	$789K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.61	−0.062%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.14	+0.009%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.72	−0.047%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.58	−0.066%	$578K	$572K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.74	−0.044%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.35	−0.097%	$685K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	744.63	−0.059%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.72	+0.087%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.96	−0.015%	$1.6M	$690K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.16	−0.122%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.76	−0.042%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.63	−0.059%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.73	−0.046%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.34	+0.305%	$172K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	745.29	+0.030%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERPshort	+0.0368%	1h	745.29	+0.030%	$33K	$105	20x
tradeXYZ xyz:META	+0.0488%	1h	745.48	+0.055%	$78.1M	$128.0M	20x	as long as short
Phoenix META	+0.0739%	1h	745.99	+0.123%	$796K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	744.86	−0.028%	$16	$103	10x	as long as short
edgeX METAUSDC	+0.0926%	4h	744.82	−0.033%	$62K	$345K	10x	as long as short