Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0182%/8h= −20.0% APRpaid last 24h −0.079%

Price spread now: Nado against edgeX−0.108%62s7-day average −0.025% · 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—prices read too far apart to compare

costs, in and out, $10k−$440.440% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.491%−$49 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now −0.108%, 7d avg −0.025%

Together, before fees−0.512%+ Points / potential airdropedgeX: Active · Nado: Active · farm board−$51 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Nado is 0.082% cheaper against edgeX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.025%). Swap the legs. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX METAUSDC	741.82	0.0179	pay 0.0090% / 4h	14m 09s	$62K	$333K	10x
Short	Nado META-PERP	741.02	−0.0003	pay 0.0000% / 1h	14m 09s	$385K	$332K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against edgeX. 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 edgeXbpFee NadobpOrdersPrice spread, now −0.108%Rate

Funding earned: −$38.32
Price spread: −0.108% → −0.025%: −$8.25
Slippage, 4 orders: −$27.98
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$90.54
Costs to cover: 0.440%
Break-even: never at this rate

Slippage from edgeX: live order book, 64 min ago; Nado: live order book, 64 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 edgeX live order book, 64 min ago	5.13 bp	9.8 bp −$10	11.4 bp −$114	doesn't fit	doesn't fit
Sell Nado live order book, 64 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	741.86	+0.005%	$328K	$1.1M	20x	as long as short
Nado META-PERPshort	−0.0003%	1h	741.02	−0.108%	$385K	$332K	20x
Aster METAUSDT	0.0000%	8h	741.70	−0.017%	$457K	$540K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.54	−0.038%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.67	−0.021%	$27.4M	$180.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.52	−0.041%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.52	−0.041%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.07	−0.102%	$344K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.56	−0.036%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.89	+0.009%	$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	741.81	−0.002%	$12K	$482K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.42	−0.054%	$744	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.44	−0.052%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.94	+0.016%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	741.54	−0.038%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.76	−0.009%	$756K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.22	−0.081%	$110K	$454K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.61	−0.029%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.60	−0.030%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.52	−0.041%	$550K	$849K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.54	−0.038%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.07	−0.102%	$759K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	741.43	−0.053%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	742.52	+0.094%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.24	−0.079%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.52	−0.041%	$1.6M	$398K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.25	−0.077%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.46	−0.049%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.47	−0.048%	$267	—	10x	as long as short
Phoenix META	+0.0129%	1h	741.77	−0.007%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0168%	1h	741.57	−0.034%	$33K	$105	20x	as long as short
edgeX METAUSDClong	+0.0179%	4h	741.82	long leg	$62K	$333K	10x
Injective META/USDC PERP	+0.0220%	1h	741.17	−0.088%	$169K	$46K	30x	as long as short
Lighter META	+0.0248%	1h	741.81	−0.002%	$859K	$2.6M	20x	as long as short
tradeXYZ xyz:META	+0.0262%	1h	741.55	−0.037%	$67.7M	$122.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0519%	1h	741.54	−0.038%	$30K	$258K	10x	as long as short