Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h −0.002%

Price spread now: OKX against Nado−0.027%49s7-day average +0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.401% of the position

Long on Nado Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.079%+$8 on $10k

Price spread, last 4 days (all we have)+0.200%+$20 · spread now −0.027%, 7d avg +0.027%

Together, before fees+0.279%+ Points / potential airdropNado: Active · farm board+$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.054% cheaper against Nado than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.027%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado META-PERP	747.47	−0.0002	get 0.0000% / 1h	5m 39s	$483K	$556K	20x
Short	OKX META-USDT-SWAP	747.27	0	get 0.0000% / 8h	3h 05m	$6.0M	$13.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.027%Rate

Funding earned: $0.39
Price spread: −0.027% → +0.027%: −$5.41
Slippage, 4 orders: −$23.09
Fee Nado: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$45.11
Costs to cover: 0.401%
Break-even: 808.8 days

Slippage from Nado: live order book, 47 min ago; OKX: live order book, 3 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, 47 min ago	0.67 bp	13.6 bp −$14	99.7 bp −$997	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	1.00 bp	11.6 bp −$12	21.9 bp −$219	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	748.02	+0.073%	$331K	$1.1M	20x	as long as short
Nado META-PERPlong	−0.0002%	1h	747.47	long leg	$483K	$556K	20x
Aster METAUSDT	0.0000%	8h	747.22	−0.034%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	747.05	−0.057%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.38	−0.013%	$28.5M	$182.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.75	+0.037%	$7.5M	$14.6M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	747.27	−0.027%	$6.0M	$13.0M	20x
Gate META_USDT	0.0000%	8h	747.15	−0.043%	$428K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	747.58	+0.015%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.65	+0.024%	$12K	$448K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	747.80	+0.044%	$836	$8.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	747.35	−0.017%	$31K	$252K	10x	as long as short
HTX META-USDT	0.0000%	8h	747.58	+0.014%	$107K	$304K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	748.07	+0.080%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	747.70	+0.030%	$770K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	747.32	−0.021%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.85	+0.050%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	747.65	+0.024%	$588K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	747.70	+0.030%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.55	−0.124%	$770K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	747.32	−0.021%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	747.53	+0.008%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	748.11	+0.085%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	747.94	+0.062%	$180K	$200K	20x	as long as short
Bitget METAUSDT	+0.0098%	8h	747.25	−0.030%	$5.5M	$11.9M	100x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	747.68	+0.028%	$1.6M	$624K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	747.06	−0.055%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.73	+0.034%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	747.66	+0.025%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	747.35	−0.017%	$667K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.19	−0.038%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	747.53	+0.007%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	747.71	+0.032%	$909K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0343%	1h	747.59	+0.015%	$72.0M	$121.8M	20x	as long as short
Phoenix META	+0.0633%	1h	749.25	+0.238%	$800K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0974%	4h	747.99	+0.069%	$62K	$338K	10x	as long as short