Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h +0.004%

Price spread now: Nado against Gate+0.019%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$500.500% of the position

Long on Gate Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.073%−$7 on $10k

Price spread, last 4 days (all we have)−0.095%−$9 · spread now +0.019%, 7d avg +0.025%

Together, before fees−0.168%+ Points / potential airdropNado: Active · farm board−$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	744.86	0	get 0.0000% / 8h	1h 42m	$458K	$6.1M	100x
Short	Nado META-PERP	745.00	−0.0023	pay 0.0003% / 1h	42m 20s	$482K	$559K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Gate. 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 GatebpFee NadobpOrdersPrice spread, now +0.019%Rate

Funding earned: −$4.79
Price spread: +0.019% → +0.025%: −$0.59
Slippage, 4 orders: −$28.05
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$55.42
Costs to cover: 0.500%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Nado: live order book, 66 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 Gate live order book, 1 min ago	6.17 bp	14.2 bp −$14	37.8 bp −$378	doesn't fit	doesn't fit
Sell Nado live order book, 66 min ago	0.60 bp	10.2 bp −$10	18.0 bp −$180	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	745.38	+0.070%	$334K	$1.1M	20x	as long as short
Nado META-PERPshort	−0.0023%	1h	745.00	+0.019%	$482K	$559K	20x
Aster METAUSDT	0.0000%	8h	745.56	+0.095%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.20	+0.045%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.38	+0.070%	$25.3M	$187.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.22	+0.048%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.40	+0.072%	$6.1M	$12.7M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	744.86	long leg	$458K	$6.1M	100x
Bitget METAUSDT	0.0000%	8h	745.34	+0.064%	$5.5M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	745.37	+0.069%	$2.4M	$3.3M	—	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	745.59	+0.098%	$13K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.21	+0.047%	$624	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.02	+0.021%	$34K	$274K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.20	+0.046%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.95	+0.146%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.16	+0.040%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0040%	1h	745.69	+0.111%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.01	+0.020%	$109K	$333K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.65	+0.106%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.38	+0.070%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.96	+0.013%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.34	+0.064%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.94	+0.011%	$711K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	745.24	+0.050%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	746.39	+0.205%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.46	+0.081%	$1.6M	$672K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.66	−0.027%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.42	+0.075%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.21	+0.046%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.43	+0.077%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.64	+0.507%	$173K	$46K	30x	as long as short
Lighter META	+0.0392%	1h	745.90	+0.140%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0408%	1h	745.69	+0.111%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0538%	1h	745.71	+0.114%	$77.0M	$127.2M	20x	as long as short
Phoenix META	+0.0739%	1h	746.48	+0.217%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0795%	4h	745.37	+0.068%	$62K	$345K	10x	as long as short