Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0058%/8h= −6.3% APRpaid last 24h +0.019%

Price spread now: Binance against QFEX+0.013%7-day average +0.035% · 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−$29as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.064%−$6 on $10k

Price spread, last 7 days+0.010%+$1 · spread now +0.013%, 7d avg +0.035%

Together, before fees−0.055%−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 0.023% cheaper against QFEX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX META-USD	746.18	0.0058	pay 0.0007% / 1h	17m 22s	$2.2M	$13.8M	10x
Short	Binance METAUSDT	746.27	0	get 0.0000% / 8h	3h 17m	$28.5M	$182.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against QFEX. 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 QFEXbpFee BinancebpOrdersPrice spread, now +0.013%Rate

Funding earned: −$12.1
Price spread: +0.013% → +0.035%: −$2.27
Slippage, 4 orders: −$6.42
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$40.79
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; Binance: live order book, 11 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 QFEX live order book, 7 min ago	2.35 bp	7.3 bp −$7	8.5 bp −$85	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.07 bp	6.3 bp −$6	10.6 bp −$106	37.7 bp −$3,774	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	746.13	−0.007%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0003%	1h	745.94	−0.033%	$482K	$554K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.67	+0.066%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.03	−0.020%	$554K	$2.7M	17x	as long as short
Binance METAUSDTshort	0.0000%	8h	746.27	+0.013%	$28.5M	$182.5M	20x
Bybit METAUSDT	0.0000%	8h	746.20	+0.003%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.45	+0.036%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.64	−0.072%	$380K	$5.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.33	+0.021%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.41	+0.031%	$12K	$452K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.12	−0.008%	$726	$8.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.84	−0.046%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.97	−0.028%	$106K	$303K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.50	+0.043%	$2.0M	$8K	10x	as long as short
Bitget METAUSDT	+0.0023%	8h	746.38	+0.027%	$5.5M	$11.8M	100x	as long as short
Lighter RH META	+0.0032%	1h	746.55	+0.050%	$783K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.83	−0.047%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.46	+0.038%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.90	−0.038%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.19	+0.001%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.39	−0.106%	$787K	$4.6M	10x	as long as short
QFEX META-USDlong	+0.0058%	1h	746.18	long leg	$2.2M	$13.8M	10x
Paradex META-USD-PERP	+0.0058%	8h	746.13	−0.007%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.58	+0.053%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	746.43	+0.034%	$180K	$200K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.47	+0.039%	$1.6M	$618K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.41	−0.103%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.31	+0.017%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.13	−0.007%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.72	−0.062%	$638K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.48	+0.308%	$173K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	746.42	+0.032%	$33K	$105	20x	as long as short
Lighter META	+0.0272%	1h	746.52	+0.046%	$867K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0314%	1h	746.27	+0.012%	$70.8M	$121.2M	20x	as long as short
edgeX METAUSDC	+0.0407%	4h	746.35	+0.022%	$62K	$338K	10x	as long as short
Phoenix META	+0.0633%	1h	747.26	+0.145%	$798K	$1.4M	20x	as long as short