Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h −0.010%

Price spread now: HTX against QFEX+0.003%7-day average −0.016% · 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−$30as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on QFEX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)+0.101%+$10 · spread now +0.003%, 7d avg −0.016%

Together, before fees+0.078%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX META-USD	740.86	0.0038	pay 0.0005% / 1h	43m 10s	$2.2M	$14.0M	10x
Short	HTX META-USDT	740.88	0	get 0.0000% / 8h	5h 43m	$107K	$299K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$8.05
Price spread: +0.003% → −0.016%: $1.85
Slippage, 4 orders: −$10.19
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$38.39
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; HTX: live order book, 2 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	1.35 bp	6.4 bp −$6	6.8 bp −$68	19.4 bp −$1,940	doesn't fit
Sell HTX live order book, 2 min ago	2.30 bp	8.6 bp −$9	13.7 bp −$137	doesn't fit	doesn't fit

META on 37 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	739.22	−0.221%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	741.19	+0.045%	$338K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.00	+0.019%	$492K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.90	+0.005%	$545K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.12	+0.035%	$25.8M	$192.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.61	−0.034%	$7.5M	$16.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.04	+0.024%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.62	−0.032%	$457K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.89	+0.004%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.35	−0.069%	$2.5M	$3.0M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	741.05	+0.025%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.06	+0.027%	$1K	$7.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.55	−0.042%	$36K	$257K	10x	as long as short
HTX META-USDTshort	0.0000%	8h	740.88	+0.003%	$107K	$299K	30x
Phemex METAUSDT	0.0000%	4h	741.74	+0.119%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.22	+0.049%	$870K	$2.8M	20x	as long as short
QFEX META-USDlong	+0.0038%	1h	740.86	long leg	$2.2M	$14.0M	10x
Arcus META-USD	+0.0040%	1h	740.58	−0.038%	$111K	$284K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.29	+0.058%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.66	−0.027%	$558K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.91	+0.007%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.72	−0.154%	$713K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	740.86	0.000%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.14	−0.097%	$648K	$7.6M	10x	as long as short
Aftermath Perps METAUSD	+0.0073%	1h	741.09	+0.031%	$53K	$86K	10x	as long as short
Popdex METAUSDT	+0.0080%	1h	741.09	+0.031%	$178K	$201K	20x	as long as short
Pacifica META	+0.0100%	1h	740.53	−0.045%	$604	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.09	+0.031%	$1.6M	$884K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.00	−0.116%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.96	+0.013%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.78	−0.011%	$267	—	10x	as long as short
Nado META-PERP	+0.0108%	1h	740.69	−0.023%	$475K	$552K	20x	as long as short
edgeX METAUSDC	+0.0123%	4h	740.59	−0.036%	$62K	$350K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.75	+0.390%	$168K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0285%	1h	741.04	+0.024%	$86.0M	$135.5M	20x	as long as short
Lighter META	+0.0352%	1h	741.24	+0.051%	$1.2M	$2.7M	20x	as long as short
Phoenix META	+0.0613%	1h	741.71	+0.115%	$792K	$1.5M	20x	as long as short