Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.022%

Price spread now: BloFin against Nado+0.068%7-day average +0.040% · 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−$36as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.053%−$5 on $10k

Price spread, last 3 days (all we have)+0.092%+$9 · spread now +0.068%, 7d avg +0.040%

Together, before fees+0.039%+ Points / potential airdropNado: Active · farm board+$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.028% dearer against Nado than usual: you sell high and buy low (spread +0.068% now, against its 7-day average of +0.040%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 3 days (−0.053% in total) that is about 40 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado META-PERP	741.21	0.0000	get 0.0000% / 1h	12m 32s	$385K	$332K	20x
Short	BloFin META-USDT	741.71	−0.0120	pay 0.0120% / 8h	12m 32s	$328K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.068%Rate

Funding earned: −$25.14
Price spread: +0.068% → +0.040%: $2.79
Slippage, 4 orders: −$19.78
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$61.13
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from Nado: live order book, 65 min ago; BloFin: live order book, 5 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, 65 min ago	0.14 bp	13.7 bp −$14	28.5 bp −$285	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.14 bp	7.0 bp −$7	10.4 bp −$104	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-USDTshort	−0.0120%	8h	741.71	+0.068%	$328K	$1.1M	20x
Nado META-PERPlong	0.0000%	1h	741.21	long leg	$385K	$332K	20x
Aster METAUSDT	0.0000%	8h	741.91	+0.094%	$457K	$540K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.70	+0.067%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.88	+0.090%	$27.4M	$180.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.75	+0.073%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.92	+0.096%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.35	+0.019%	$344K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.79	+0.078%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.89	+0.092%	$2.3M	$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	741.81	+0.081%	$12K	$482K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.48	+0.037%	$744	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.49	+0.038%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.94	+0.099%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	741.83	+0.084%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.93	+0.097%	$761K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.43	+0.030%	$110K	$454K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.60	+0.053%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.82	+0.082%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.53	+0.043%	$550K	$849K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.57	+0.049%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.92	−0.039%	$759K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	741.57	+0.049%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	742.32	+0.149%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.24	+0.004%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.71	+0.068%	$1.6M	$399K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.93	−0.038%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.52	+0.042%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.53	+0.044%	$267	—	10x	as long as short
Phoenix META	+0.0129%	1h	741.77	+0.076%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0168%	1h	741.59	+0.051%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.58	+0.320%	$169K	$46K	30x	as long as short
Lighter META	+0.0248%	1h	742.00	+0.107%	$860K	$2.6M	20x	as long as short
tradeXYZ xyz:META	+0.0264%	1h	741.72	+0.069%	$67.7M	$122.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0465%	1h	741.55	+0.046%	$30K	$258K	10x	as long as short
edgeX METAUSDC	+0.0727%	4h	741.69	+0.065%	$62K	$334K	10x	as long as short