Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.035%

Price spread now: SunX against Popdex+0.039%7-day average +0.015% · 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−$143as in the Price arb table

costs, in and out, $10k−$1451.451% of the position

Long on Popdex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.075%−$8 on $10k

Price spread, last 3 days (all we have)+0.032%+$3 · spread now +0.039%, 7d avg +0.015%

Together, before fees−0.043%−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.024% dearer against Popdex than usual: you sell high and buy low (spread +0.039% now, against its 7-day average of +0.015%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex METAUSDT	740.42	0.0048	pay 0.0006% / 1h	34m 12s	$176K	$197K	20x
Short	SunX META-USDT	740.71	0	get 0.0000% / 8h	6h 34m	$678	$9.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.039%Rate

Funding earned: −$10.08
Price spread: +0.039% → +0.015%: $2.44
Slippage, 4 orders: −$130.7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee SunX: 4 bp × 2 orders: −$8
Net: −$152.74
Costs to cover: 1.451%
Break-even: never at this rate

Slippage from Popdex: live order book, 34 min ago; SunX: live order book, 5 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, 34 min ago	0.27 bp	5.9 bp −$6	13.6 bp −$136	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	63.65 bp	67.6 bp −$68	97.3 bp −$973	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0138%	1h	739.88	−0.073%	$478K	$546K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.75	+0.044%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.46	+0.006%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.72	+0.041%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.84	+0.057%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.78	+0.049%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.14	−0.038%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.58	+0.022%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.13	−0.039%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	739.97	−0.060%	$12K	$435K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDTshort	0.0000%	8h	740.71	+0.039%	$678	$9.2M	20x
HTX META-USDT	0.0000%	8h	740.54	+0.016%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.41	−0.001%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.14	−0.038%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.84	+0.057%	$751K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.77	−0.088%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.41	−0.001%	—	$11K	25x	as long as short
Popdex METAUSDTlong	+0.0048%	1h	740.42	long leg	$176K	$197K	20x
Polymarket Perps META-USD	+0.0050%	1h	740.21	−0.028%	$558K	$855K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.31	−0.015%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.74	−0.092%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	740.17	−0.034%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0068%	1h	740.74	+0.043%	$49K	$80K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0074%	1h	740.49	+0.009%	$31K	$244K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.33	−0.012%	$1.6M	$478K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.45	−0.131%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.34	−0.011%	$1K	$24	10x	as long as short
Lighter META	+0.0104%	1h	740.76	+0.046%	$856K	$2.4M	20x	as long as short
Aevo META-PERP	+0.0104%	1h	740.25	−0.024%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.16	−0.035%	$610K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.34	−0.011%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0168%	4h	739.75	−0.091%	$62K	$335K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.56	−0.116%	$170K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0254%	1h	740.77	+0.047%	$68.3M	$120.3M	20x	as long as short
Phoenix META	+0.0313%	1h	740.68	+0.035%	$394K	$1.1M	20x	as long as short