Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.008%

Price spread now: Bitget against QFEX−0.009%7-day average +0.029% · 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−$39as in the Price arb table

costs, in and out, $10k−$350.353% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 7 days+0.010%+$1 · spread now −0.009%, 7d avg +0.029%

Together, before fees−0.003%$0 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 Bitget is 0.038% cheaper against QFEX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX META-USD	739.99	0.0055	pay 0.0007% / 1h	50m 21s	$2.2M	$14.2M	10x
Short	Bitget METAUSDT	739.92	0	get 0.0000% / 8h	7h 50m	$5.6M	$11.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$11.59
Price spread: −0.009% → +0.029%: −$3.83
Slippage, 4 orders: −$13.29
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$50.72
Costs to cover: 0.353%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Bitget: live order book, 3 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, 4 min ago	2.03 bp	7.0 bp −$7	8.5 bp −$85	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	1.15 bp	10.5 bp −$10	22.0 bp −$220	40.2 bp −$4,020	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	740.01	+0.003%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.90	+0.123%	$461K	$546K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.97	−0.002%	$552K	$1.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.02	+0.004%	$27.4M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.05	+0.008%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.85	−0.019%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.60	−0.053%	$357K	$5.6M	100x	as long as short
Bitget METAUSDTshort	0.0000%	8h	739.92	−0.009%	$5.6M	$11.1M	100x
Variational Omni META	0.0000%	8h	739.73	−0.035%	$2.3M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.20	+0.028%	$12K	$486K	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	740.01	+0.003%	$779	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.62	−0.050%	$106K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.85	+0.116%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0026%	1h	739.64	−0.048%	$381K	$336K	20x	as long as short
Lighter RH META	+0.0032%	1h	739.99	0.000%	$757K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.14	+0.020%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.14	+0.020%	$177K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.87	−0.016%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.88	−0.015%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.07	−0.124%	$735K	$4.3M	10x	as long as short
QFEX META-USDlong	+0.0055%	1h	739.99	long leg	$2.2M	$14.2M	10x
Arcus META-USD	+0.0063%	1h	739.69	−0.041%	$110K	$331K	10x	as long as short
Hotstuff META-PERP	+0.0064%	1h	739.69	−0.041%	$33K	$105	20x	as long as short
Paradex META-USD-PERP	+0.0070%	8h	739.62	−0.050%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.11	+0.016%	$49K	$77K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.10	+0.015%	$1.6M	$412K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.48	−0.069%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.00	+0.001%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.94	−0.007%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0114%	1h	739.83	−0.022%	$67.6M	$121.2M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	740.11	+0.016%	$602K	$7.3M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.93	+0.262%	$169K	$46K	30x	as long as short
Lighter META	+0.0248%	1h	740.03	+0.005%	$856K	$2.4M	20x	as long as short
Phoenix META	+0.0259%	1h	740.13	+0.019%	$277K	$930K	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0359%	1h	739.96	−0.004%	$30K	$253K	10x	as long as short
edgeX METAUSDC	+0.0474%	4h	740.08	+0.012%	$62K	$333K	10x	as long as short