Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.012%

Price spread now: QFEX against HTX+0.011%7-day average +0.017% · 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−$34as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.021%+$2 on $10k

Price spread, last 4 days (all we have)−0.085%−$9 · spread now +0.011%, 7d avg +0.017%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, 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	HTX META-USDT	745.16	0	get 0.0000% / 8h	1h 43m	$106K	$307K	30x
Short	QFEX META-USD	745.24	0.0031	get 0.0004% / 1h	43m 32s	$2.2M	$13.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against HTX. 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 HTXbpFee QFEXbpOrdersPrice spread, now +0.011%Rate

Funding earned: $6.48
Price spread: +0.011% → +0.017%: −$0.66
Slippage, 4 orders: −$11.21
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$27.39
Costs to cover: 0.332%
Break-even: 36.6 days

Slippage from HTX: live order book, 64 min ago; QFEX: live order book, 6 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 HTX live order book, 64 min ago	2.68 bp	11.3 bp −$11	15.2 bp −$152	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	1.61 bp	6.6 bp −$7	8.2 bp −$82	14.1 bp −$1,405	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	745.51	+0.047%	$334K	$1.1M	20x	as long as short
Nado META-PERP	−0.0022%	1h	745.05	−0.014%	$482K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.52	+0.049%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.22	+0.008%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.38	+0.030%	$25.3M	$187.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.28	+0.016%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.39	+0.031%	$6.1M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.71	−0.060%	$457K	$6.1M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.36	+0.027%	$5.5M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	745.37	+0.029%	$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	+0.058%	$13K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.39	+0.031%	$552	$8.3M	20x	as long as short
HTX META-USDTlong	0.0000%	8h	745.16	long leg	$106K	$307K	30x
Phemex METAUSDT	0.0000%	4h	745.95	+0.106%	$2.0M	$8K	10x	as long as short
QFEX META-USDshort	+0.0031%	1h	745.24	+0.011%	$2.2M	$13.9M	10x
Lighter RH META	+0.0040%	1h	745.70	+0.072%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.05	−0.015%	$109K	$333K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.69	+0.071%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.37	+0.028%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.99	−0.023%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.36	+0.027%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.94	−0.030%	$711K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	745.25	+0.012%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	746.39	+0.165%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.47	+0.042%	$1.6M	$671K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.89	−0.036%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.48	+0.043%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.28	+0.017%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.43	+0.036%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.64	+0.467%	$173K	$46K	30x	as long as short
Deribit META_USDC-PERPETUAL	+0.0247%	1h	745.32	+0.021%	$34K	$271K	10x	as long as short
Lighter META	+0.0392%	1h	745.84	+0.091%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0448%	1h	745.78	+0.083%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0545%	1h	745.74	+0.078%	$76.9M	$127.1M	20x	as long as short
Phoenix META	+0.0739%	1h	747.27	+0.283%	$798K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0795%	4h	745.37	+0.028%	$62K	$345K	10x	as long as short