Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0297%/8h= +32.5% APRpaid last 24h —

Price spread now: Hotstuff against Paradex+0.120%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · Hotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Hotstuff is 0.120% dearer against Paradex than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex META-USD-PERP	744.46	0.0055	pay 0.0055% / 8h	51m 20s	—	—	5x
Short	Hotstuff META-PERP	745.35	0.0352	get 0.0044% / 1h	51m 20s	$33K	$105	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Paradex. 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 ParadexbpFee HotstuffbpOrdersPrice spread, now +0.120%Rate

Funding earned: $62.33
Price spread: +0.120% → 0.000%: $11.97
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $65.3
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Hotstuff: no order-book sample. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Hotstuff no order-book sample	—	—	—	—	—

Paradex and Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	745.06	+0.081%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.49	+0.139%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.52	+0.009%	$547K	$2.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.61	+0.020%	$25.1M	$188.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.51	+0.007%	$7.5M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.73	+0.036%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.22	−0.032%	$465K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.64	+0.024%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	745.61	+0.154%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.24	+0.105%	$13K	$436K	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	744.86	+0.054%	$947	$8.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.41	−0.007%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.63	+0.023%	$106K	$309K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.56	+0.148%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.50	+0.006%	$2.2M	$13.9M	10x	as long as short
Arcus META-USD	+0.0040%	1h	744.83	+0.050%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.87	+0.055%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.46	0.000%	$564K	$597K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.76	+0.040%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.17	−0.039%	$728K	$5.1M	10x	as long as short
Paradex META-USD-PERPlong	+0.0055%	8h	744.46	long leg	—	—	5x
Lighter RH META	+0.0072%	1h	744.97	+0.069%	$787K	$3.1M	20x	as long as short
Nado META-PERP	+0.0077%	1h	744.22	−0.032%	$480K	$560K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	745.53	+0.144%	$52K	$81K	10x	as long as short
Pacifica META	+0.0100%	1h	744.84	+0.051%	$13	$106	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.74	+0.038%	$1.6M	$707K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.40	−0.008%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.58	+0.016%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.45	−0.002%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.65	+0.026%	$654K	$7.9M	10x	as long as short
Popdex METAUSDT	+0.0120%	1h	744.74	+0.038%	$177K	$203K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.52	+0.546%	$173K	$46K	30x	as long as short
edgeX METAUSDC	+0.0274%	4h	745.01	+0.074%	$62K	$344K	10x	as long as short
Hotstuff META-PERPshort	+0.0352%	1h	745.35	+0.120%	$33K	$105	20x
Lighter META	+0.0488%	1h	745.18	+0.097%	$1.1M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0547%	1h	744.99	+0.071%	$80.5M	$129.1M	20x	as long as short
Phoenix META	+0.0750%	1h	746.46	+0.269%	$797K	$1.5M	20x	as long as short