Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h −0.003%

Price spread now: SunX against Nado+0.075%7-day average +0.043% · 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−$86as in the Price arb table

costs, in and out, $10k−$890.893% of the position

Long on Nado Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.072%+$7 on $10k

Price spread, last 4 days (all we have)+0.045%+$5 · spread now +0.075%, 7d avg +0.043%

Together, before fees+0.117%+ Points / potential airdropNado: Active · farm board+$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.032% dearer against Nado than usual: you sell high and buy low (spread +0.075% now, against its 7-day average of +0.043%): +$3 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 7.1 days. Mind the row above: over the last 4 days funding on this pair paid +0.072%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado META-PERP	746.02	0.0015	pay 0.0002% / 1h	5m 49s	$481K	$561K	20x
Short	SunX META-USDT	746.58	0	get 0.0000% / 8h	5m 49s	$1K	$8.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.075%Rate

Funding earned: −$3.15
Price spread: +0.075% → +0.043%: $3.2
Slippage, 4 orders: −$74.33
Fee Nado: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$89.29
Costs to cover: 0.893%
Break-even: never at this rate

Slippage from Nado: live order book, 32 min ago; SunX: live order book, 13 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, 32 min ago	0.40 bp	14.5 bp −$15	93.1 bp −$931	doesn't fit	doesn't fit
Sell SunX live order book, 13 min ago	28.07 bp	32.1 bp −$32	61.6 bp −$616	doesn't fit	doesn't fit

META on 37 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	746.81	+0.106%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.54	+0.070%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.40	+0.051%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.58	+0.075%	$25.4M	$189.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.80	+0.105%	$7.5M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.65	+0.085%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.25	+0.031%	$473K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.53	+0.069%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	746.51	+0.067%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.23	+0.163%	$12K	$439K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDTshort	0.0000%	8h	746.58	+0.075%	$1K	$8.0M	20x
HTX META-USDT	0.0000%	8h	746.28	+0.035%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.25	+0.165%	$2.0M	$8K	10x	as long as short
Nado META-PERPlong	+0.0015%	1h	746.02	long leg	$481K	$561K	20x
QFEX META-USD	+0.0031%	1h	746.53	+0.069%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0040%	1h	746.82	+0.108%	$797K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.60	+0.078%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.11	+0.146%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.28	+0.035%	$568K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.53	+0.069%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.25	+0.031%	$734K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	746.47	+0.061%	—	—	5x	as long as short
Deribit META_USDC-PERPETUAL	+0.0058%	1h	746.16	+0.019%	$34K	$276K	10x	as long as short
Popdex METAUSDT	+0.0072%	1h	746.59	+0.077%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.44	+0.191%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	746.78	+0.103%	$633	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.81	+0.106%	$1.6M	$728K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.55	+0.071%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.65	+0.085%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.51	+0.066%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.79	+0.104%	$651K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.54	+0.472%	$177K	$51K	30x	as long as short
Lighter META	+0.0448%	1h	746.95	+0.125%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	747.03	+0.136%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0564%	1h	747.13	+0.149%	$83.6M	$131.7M	20x	as long as short
Phoenix META	+0.0750%	1h	747.82	+0.242%	$798K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0931%	4h	747.28	+0.169%	$62K	$344K	10x	as long as short