Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.030%

Price spread now: Gate against Popdex−0.097%7-day average −0.063% · 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−$48as in the Price arb table

costs, in and out, $10k−$440.444% of the position

Long on Popdex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.075%−$8 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.097%, 7d avg −0.063%

Together, before fees−0.065%−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.034% cheaper against Popdex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.063%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex METAUSDT	744.11	0.0048	pay 0.0006% / 1h	12m 20s	$179K	$199K	20x
Short	Gate META_USDT	743.39	0	get 0.0000% / 8h	4h 12m	$365K	$5.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.097%Rate

Funding earned: −$10.08
Price spread: −0.097% → −0.063%: −$3.4
Slippage, 4 orders: −$23.02
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$57.9
Costs to cover: 0.444%
Break-even: never at this rate

Slippage from Popdex: live order book, 46 min ago; Gate: live order book, 1 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, 46 min ago	0.34 bp	4.2 bp −$4	10.4 bp −$104	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	6.52 bp	16.5 bp −$17	32.5 bp −$325	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	743.99	−0.016%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0012%	1h	743.06	−0.141%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.20	−0.122%	$468K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.73	−0.051%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.10	−0.001%	$28.0M	$182.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.07	−0.005%	$7.6M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.75	−0.048%	$6.0M	$13.6M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	743.39	−0.097%	$365K	$5.7M	100x
Bitget METAUSDT	0.0000%	8h	744.01	−0.013%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	743.81	−0.040%	$2.4M	$3.1M	—	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	744.01	−0.014%	$13K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.91	−0.027%	$848	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.94	−0.023%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.90	−0.028%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.77	−0.046%	$775K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.78	−0.044%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.56	−0.074%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.06	−0.007%	—	$10K	25x	as long as short
Popdex METAUSDTlong	+0.0048%	1h	744.11	long leg	$179K	$199K	20x
Polymarket Perps META-USD	+0.0050%	1h	743.61	−0.067%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.91	−0.027%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.12	−0.133%	$800K	$4.5M	10x	as long as short
Paradex META-USD-PERP	+0.0079%	8h	743.70	−0.055%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0081%	1h	744.53	+0.057%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.86	−0.034%	$1.6M	$552K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.11	−0.134%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.98	−0.017%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.80	−0.041%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	−0.047%	$615K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0176%	1h	743.85	−0.035%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.67	+0.344%	$172K	$48K	30x	as long as short
Lighter META	+0.0264%	1h	743.76	−0.047%	$865K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0284%	1h	744.01	−0.013%	$69.7M	$120.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0329%	1h	743.58	−0.071%	$31K	$246K	10x	as long as short
edgeX METAUSDC	+0.0485%	4h	743.87	−0.032%	$62K	$338K	10x	as long as short
Phoenix META	+0.0591%	1h	744.70	+0.079%	$705K	$1.2M	20x	as long as short