Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.024%

Price spread now: Aster against Hotstuff−0.042%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Aster

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 · Aster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Aster is 0.042% cheaper against Hotstuff than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff META-PERP	743.03	0.0328	pay 0.0041% / 1h	5m 34s	$33K	$105	20x
Short	Aster METAUSDT	742.72	0	get 0.0000% / 8h	5h 05m	$467K	$550K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hotstuff. 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 HotstuffbpFee AsterbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$68.88
Price spread: −0.042% → 0.000%: −$4.2
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Net: −$86.08
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Aster: live order book, 57 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Aster live order book, 57 min ago	9.99 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit

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 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
Deribit META_USDC-PERPETUAL	−0.0208%	1h	742.48	−0.074%	$31K	$245K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	742.37	−0.089%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0025%	1h	742.87	−0.022%	$480K	$550K	20x	as long as short
Aster METAUSDTshort	0.0000%	8h	742.72	−0.042%	$467K	$550K	20x
Extended META_24_5-USD	0.0000%	1h	742.82	−0.028%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.98	−0.007%	$27.4M	$179.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.90	−0.017%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.95	−0.011%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.51	−0.070%	$362K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.91	−0.016%	$5.5M	$11.5M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	742.77	−0.035%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.81	−0.164%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.88	−0.020%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.56	−0.063%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.61	−0.057%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.27	+0.032%	$768K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	742.78	−0.034%	$2.1M	$13.6M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.01	−0.137%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.25	+0.030%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.08	+0.007%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.78	−0.034%	$560K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.96	−0.009%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.49	−0.073%	$721K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	742.98	−0.007%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.53	−0.067%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.46	−0.077%	$613K	$7.2M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.83	−0.027%	$1.6M	$527K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.06	−0.265%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.96	−0.009%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.76	−0.037%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.78	−0.168%	$171K	$48K	30x	as long as short
Lighter META	+0.0264%	1h	743.20	+0.023%	$862K	$2.4M	20x	as long as short
Hotstuff META-PERPlong	+0.0328%	1h	743.03	long leg	$33K	$105	20x
tradeXYZ xyz:META	+0.0334%	1h	743.09	+0.008%	$69.4M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	742.66	−0.050%	$586K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0769%	4h	742.22	−0.109%	$62K	$336K	10x	as long as short