Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.027%

Price spread now: HTX against Hotstuff−0.055%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 HTX

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 against this trade now: funding costs −$7 a day on $10k at the current rate, and HTX is 0.055% cheaper against Hotstuff than usual: you would sell low and buy high (−$5 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	746.47	0.0240	pay 0.0030% / 1h	41m 26s	$33K	$105	20x
Short	HTX META-USDT	746.06	0	get 0.0000% / 8h	3h 41m	$106K	$301K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$50.4
Price spread: −0.055% → 0.000%: −$5.49
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee HTX: 6 bp × 2 orders: −$12
Net: −$72.89
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; HTX: live order book, 11 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 HTX live order book, 11 min ago	2.69 bp	8.7 bp −$9	9.9 bp −$99	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
BloFin META-USDT	−0.0120%	8h	746.00	−0.063%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0025%	1h	746.02	−0.060%	$482K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.98	−0.066%	$470K	$554K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.10	−0.050%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.18	−0.039%	$28.5M	$183.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.19	−0.038%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.06	−0.055%	$6.0M	$13.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.76	−0.095%	$365K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.39	−0.011%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.99	−0.198%	$2.4M	$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	745.25	−0.163%	$12K	$451K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.87	−0.080%	$712	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.70	−0.103%	$31K	$246K	10x	as long as short
HTX META-USDTshort	0.0000%	8h	746.06	−0.055%	$106K	$301K	30x
Phemex METAUSDT	0.0000%	4h	745.85	−0.083%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.60	+0.017%	$784K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.31	−0.155%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.50	+0.004%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.38	−0.012%	$180K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.90	−0.076%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.18	−0.039%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.55	−0.123%	$786K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	746.14	−0.044%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.91	−0.076%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0092%	8h	746.21	−0.035%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.02	−0.060%	$1.6M	$605K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.30	−0.157%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.10	−0.050%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.16	−0.042%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.20	−0.170%	$619K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.17	+0.094%	$172K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	746.50	+0.004%	$866K	$2.4M	20x	as long as short
Hotstuff META-PERPlong	+0.0240%	1h	746.47	long leg	$33K	$105	20x
tradeXYZ xyz:META	+0.0335%	1h	746.27	−0.027%	$70.3M	$121.1M	20x	as long as short
edgeX METAUSDC	+0.0515%	4h	745.73	−0.100%	$62K	$336K	10x	as long as short
Phoenix META	+0.0633%	1h	746.93	+0.062%	$777K	$1.4M	20x	as long as short