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 −0.004%

Price spread now: Nado against OKX−0.067%7-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−$47as in the Price arb table

costs, in and out, $10k−$430.434% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.080%−$8 on $10k

Price spread, last 4 days (all we have)−0.509%−$51 · spread now −0.067%, 7d avg −0.027%

Together, before fees−0.589%+ Points / potential airdropNado: Active · farm board−$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.039% cheaper against OKX than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of −0.027%). If the spread goes back, that is −$4 on $10k: about 8.8 days of funding at the current rate ($0 a day). Mind the row above: over the last 4 days funding on this pair cost −0.080%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX META-USDT-SWAP	746.67	0	get 0.0000% / 8h	6m 53s	$6.0M	$12.8M	20x
Short	Nado META-PERP	746.17	0.0015	get 0.0002% / 1h	6m 53s	$481K	$561K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against OKX. 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 OKXbpFee NadobpOrdersPrice spread, now −0.067%Rate

Funding earned: $3.13
Price spread: −0.067% → −0.027%: −$3.95
Slippage, 4 orders: −$26.44
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$44.25
Costs to cover: 0.434%
Break-even: 105.9 days

Slippage from OKX: live order book, 1 min ago; Nado: live order book, 31 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 OKX live order book, 1 min ago	0.27 bp	7.2 bp −$7	21.2 bp −$212	doesn't fit	doesn't fit
Sell Nado live order book, 31 min ago	0.40 bp	10.6 bp −$11	19.3 bp −$193	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	+0.019%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.52	−0.020%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.52	−0.020%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.63	−0.005%	$25.4M	$189.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.74	+0.009%	$7.5M	$15.5M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	746.67	long leg	$6.0M	$12.8M	20x
Gate META_USDT	0.0000%	8h	746.36	−0.042%	$473K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.67	0.000%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	747.21	+0.073%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.23	+0.075%	$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-USDT	0.0000%	8h	746.56	−0.015%	$1K	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.22	−0.060%	$34K	$276K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.47	−0.027%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.33	+0.088%	$2.0M	$8K	10x	as long as short
Nado META-PERPshort	+0.0015%	1h	746.17	−0.067%	$481K	$561K	20x
QFEX META-USD	+0.0031%	1h	746.54	−0.017%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0040%	1h	746.97	+0.040%	$797K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.69	+0.003%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.21	+0.072%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.28	−0.052%	$568K	$625K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.65	−0.003%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.25	−0.056%	$744K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	746.43	−0.032%	—	—	5x	as long as short
Popdex METAUSDT	+0.0064%	1h	746.71	+0.005%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.44	+0.104%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	746.67	0.000%	$633	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.82	+0.020%	$1.6M	$727K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.55	−0.016%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.64	−0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.49	−0.023%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.79	+0.016%	$651K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.54	+0.384%	$177K	$51K	30x	as long as short
Lighter META	+0.0448%	1h	747.08	+0.055%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	746.99	+0.043%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0564%	1h	747.20	+0.071%	$83.7M	$131.6M	20x	as long as short
Phoenix META	+0.0750%	1h	747.82	+0.154%	$798K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0931%	4h	747.28	+0.081%	$62K	$344K	10x	as long as short