Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0600%/8h= +65.7% APRpaid last 24h +0.061%

Price spread now: edgeX against Popdex+0.014%59s7-day average −0.012% · 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—prices read too far apart to compare

costs, in and out, $10k−$280.283% of the position

Long on Popdex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.362%+$36 on $10k

Price spread, last 3 days (all we have)−0.040%−$4 · spread now +0.014%, 7d avg −0.012%

Together, before fees+0.322%+ Points / potential airdropedgeX: Active · farm board+$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and edgeX is 0.025% dearer against Popdex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.012%. The two prices were read 59 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	Popdex METAUSDT	739.55	0.0048	pay 0.0006% / 1h	22m 29s	$177K	$195K	20x
Short	edgeX METAUSDC	739.65	0.0648	get 0.0324% / 4h	3h 22m	$62K	$334K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Popdex. 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 PopdexbpFee edgeXbpOrdersPrice spread, now +0.014%Rate

Funding earned: $126.04
Price spread: +0.014% → −0.012%: $2.51
Slippage, 4 orders: −$12.92
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $100.23
Costs to cover: 0.283%
Break-even: 1.4 days

Slippage from Popdex: live order book, 51 min ago; edgeX: live order book, 51 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 Popdex live order book, 51 min ago	0.40 bp	4.7 bp −$5	7.8 bp −$78	doesn't fit	doesn't fit
Sell edgeX live order book, 51 min ago	5.19 bp	9.8 bp −$10	11.2 bp −$112	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	739.51	−0.005%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0025%	1h	739.29	−0.035%	$421K	$394K	20x	as long as short
Aster METAUSDT	0.0000%	8h	739.68	+0.018%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.39	−0.021%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.55	0.000%	$27.4M	$179.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.69	+0.019%	$7.6M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.63	+0.011%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.12	−0.058%	$352K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.48	−0.009%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.24	−0.042%	$2.3M	$3.3M	—	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	739.70	+0.020%	$12K	$461K	10x	as long as short
SunX META-USDT	0.0000%	8h	739.82	+0.037%	$908	$9.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.10	−0.061%	$30K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	739.44	−0.015%	$104K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	739.67	+0.016%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	739.79	+0.032%	$750K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	739.89	+0.046%	—	$11K	25x	as long as short
Popdex METAUSDTlong	+0.0048%	1h	739.55	long leg	$177K	$195K	20x
Polymarket Perps META-USD	+0.0050%	1h	739.33	−0.030%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.50	−0.007%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	738.85	−0.095%	$676K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.56	+0.001%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	739.12	−0.058%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	739.36	−0.026%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.27	+0.097%	$48K	$80K	10x	as long as short
Hotstuff META-PERP	+0.0080%	1h	739.54	−0.001%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	739.65	+0.014%	$1.6M	$436K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.16	−0.053%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.61	+0.008%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.45	−0.014%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	739.31	−0.032%	$613K	$7.3M	10x	as long as short
tradeXYZ xyz:META	+0.0167%	1h	739.61	+0.008%	$67.5M	$121.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.54	+0.269%	$171K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	739.77	+0.030%	$851K	$2.5M	20x	as long as short
Phoenix META	+0.0259%	1h	740.01	+0.062%	$291K	$930K	20x	as long as short
edgeX METAUSDCshort	+0.0648%	4h	739.65	+0.014%	$62K	$334K	10x