Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0024%/8h= +2.7% APRpaid last 24h −0.012%

Price spread now: Aster against Nado+0.015%7-day average +0.105% · 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−$178as in the Price arb table

costs, in and out, $10k−$1691.692% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.071%+$7 on $10k

Price spread, last 4 days (all we have)+0.299%+$30 · spread now +0.015%, 7d avg +0.105%

Together, before fees+0.370%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.090% cheaper against Nado than usual: you would sell low and buy high (spread +0.015% now, against its 7-day average of +0.105%). If the spread goes back, that is −$9 on $10k: about 12 days of funding at the current rate (+$1 a day). At the pace of the last 3 days (+0.071% in total) that is about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado META-PERP	741.65	−0.0024	get 0.0003% / 1h	26m 27s	$479K	$550K	20x
Short	Aster METAUSDT	741.76	0	get 0.0000% / 8h	5h 26m	$467K	$549K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. 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 NadobpFee AsterbpOrdersPrice spread, now +0.015%Rate

Funding earned: $5.14
Price spread: +0.015% → +0.105%: −$8.97
Slippage, 4 orders: −$154.22
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$173.06
Costs to cover: 1.692%
Break-even: 242.9 days

Slippage from Nado: live order book, 37 min ago; Aster: live order book, 36 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 Nado live order book, 37 min ago	0.61 bp	15.4 bp −$15	96.9 bp −$969	doesn't fit	doesn't fit
Sell Aster live order book, 36 min ago	9.99 bp	20.9 bp −$21	doesn't fit	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	742.22	+0.077%	$328K	$1.1M	20x	as long as short
Nado META-PERPlong	−0.0024%	1h	741.65	long leg	$479K	$550K	20x
Aster METAUSDTshort	0.0000%	8h	741.76	+0.015%	$467K	$549K	20x
Extended META_24_5-USD	0.0000%	1h	742.02	+0.050%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.27	+0.084%	$27.4M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.98	+0.045%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.25	+0.081%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.76	+0.015%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.03	+0.051%	$5.5M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	742.15	+0.067%	$2.3M	$3.1M	—	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	742.16	+0.069%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.39	+0.100%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.95	+0.041%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.60	+0.128%	$2.0M	$8K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0020%	1h	741.58	−0.009%	$31K	$245K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.36	+0.096%	$764K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	742.00	+0.047%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.68	+0.004%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.29	+0.087%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.32	+0.091%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.95	+0.041%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.18	+0.072%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.34	−0.042%	$721K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	742.05	+0.054%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.63	+0.132%	$50K	$82K	10x	as long as short
edgeX METAUSDC	+0.0086%	4h	742.47	+0.111%	$62K	$334K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.03	+0.051%	$624K	$7.2M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.20	+0.074%	$1.6M	$519K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.72	+0.010%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.04	+0.053%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.91	+0.035%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.40	−0.033%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	742.23	+0.078%	$33K	$105	20x	as long as short
Lighter META	+0.0264%	1h	742.31	+0.089%	$861K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0347%	1h	742.37	+0.097%	$69.3M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	743.31	+0.224%	$544K	$1.1M	20x	as long as short