Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.1600%/8h= +175.2% APRpaid last 24h −0.009%

Price spread now: Gate against Hotstuff−0.027%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 Gate

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

Funding pays, the price is against you. Gate is 0.027% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 1 hour of funding at the current rate (+$48 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff META-PERP	740.02	−0.1600	get 0.0200% / 1h	6m 46s	$33K	$105	20x
Short	Gate META_USDT	739.82	0	get 0.0000% / 8h	5h 06m	$466K	$6.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.027%Rate

Funding earned: $336
Price spread: −0.027% → 0.000%: −$2.7
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $313.3
Costs to cover: 0.200%
Break-even: 0.5 days

Slippage unknown: Hotstuff: no order-book sample; Gate: live order book, 5 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 Gate live order book, 5 min ago	5.27 bp	17.6 bp −$18	41.2 bp −$412	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 37 exchanges

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
Hotstuff META-PERPlong	−0.1600%	1h	740.02	long leg	$33K	$105	20x
BloFin META-USDT	−0.0120%	8h	740.13	+0.015%	$337K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.00	−0.003%	$492K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.77	−0.033%	$545K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.91	−0.015%	$25.3M	$191.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.83	−0.026%	$7.5M	$16.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.16	+0.019%	$6.0M	$12.9M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	739.82	−0.027%	$466K	$6.4M	100x
Bitget METAUSDT	0.0000%	8h	739.96	−0.008%	$5.7M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.95	−0.010%	$2.6M	$3.1M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	740.12	+0.013%	$12K	$427K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.51	+0.066%	$880	$6.9M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.89	−0.018%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.22	+0.027%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.01	−0.001%	$856K	$2.9M	20x	as long as short
QFEX META-USD	+0.0038%	1h	740.09	+0.009%	$2.2M	$13.9M	10x	as long as short
Arcus META-USD	+0.0040%	1h	739.67	−0.047%	$111K	$291K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.29	+0.036%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.75	−0.036%	$558K	$595K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.98	−0.005%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.61	−0.055%	$755K	$5.1M	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	739.76	−0.035%	$645K	$7.2M	10x	as long as short
Paradex META-USD-PERP	+0.0070%	8h	740.14	+0.017%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	740.34	+0.043%	$53K	$86K	10x	as long as short
Pacifica META	+0.0100%	1h	739.33	−0.094%	$609	$3K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.00	−0.003%	$1.6M	$919K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.42	−0.081%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.10	+0.011%	$1K	$338	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.03	+0.001%	$266	—	10x	as long as short
Nado META-PERP	+0.0126%	1h	739.64	−0.051%	$474K	$535K	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0129%	1h	739.63	−0.053%	$36K	$208K	10x	as long as short
Popdex METAUSDT	+0.0144%	1h	740.24	+0.030%	$178K	$199K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.85	−0.023%	$167K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0322%	1h	739.85	−0.023%	$87.0M	$136.0M	20x	as long as short
Lighter META	+0.0368%	1h	740.04	+0.003%	$1.2M	$2.7M	20x	as long as short
Phoenix META	+0.0613%	1h	740.72	+0.095%	$791K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0646%	4h	739.89	−0.017%	$62K	$349K	10x	as long as short