Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0030%/8h= +3.3% APRpaid last 24h —

Price spread now: Paradex against QFEX−0.032%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on QFEX Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.032% cheaper against QFEX than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 3.6 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX META-USD	745.49	0.0046	pay 0.0006% / 1h	45m 53s	$2.2M	$13.7M	10x
Short	Paradex META-USD-PERP	745.25	0.0076	get 0.0076% / 8h	2h 45m	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.032%Rate

Funding earned: $6.25
Price spread: −0.032% → 0.000%: −$3.21
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$10.96
Costs to cover: 0.140%
Break-even: 19.3 days

Slippage unknown: QFEX: live order book, 8 min ago; Paradex: no order-book sample. Net counts fees only.

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, 8 min ago	2.01 bp	7.0 bp −$7	8.7 bp −$87	19.9 bp −$1,991	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	745.63	+0.019%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.34	+0.115%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.48	−0.001%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.68	+0.025%	$28.3M	$181.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.64	+0.020%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.58	+0.012%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.11	−0.051%	$434K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	745.64	+0.021%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.12	+0.084%	$12K	$448K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.87	+0.051%	$952	$8.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX META-USDT	0.0000%	8h	745.53	+0.005%	$106K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.15	+0.089%	$2.0M	$8K	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.20	−0.039%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.67	+0.024%	—	$11K	25x	as long as short
QFEX META-USDlong	+0.0046%	1h	745.49	long leg	$2.2M	$13.7M	10x
Polymarket Perps META-USD	+0.0050%	1h	745.30	−0.025%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.48	−0.001%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.81	−0.091%	$758K	$4.5M	10x	as long as short
Bitget METAUSDT	+0.0053%	8h	745.76	+0.036%	$5.4M	$11.9M	100x	as long as short
Nado META-PERP	+0.0053%	1h	744.80	−0.093%	$481K	$556K	20x	as long as short
Lighter RH META	+0.0056%	1h	745.85	+0.048%	$770K	$2.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0059%	1h	745.27	−0.030%	$31K	$256K	10x	as long as short
Paradex META-USD-PERPshort	+0.0076%	8h	745.25	−0.032%	—	—	5x
Aftermath Perps METAUSD	+0.0087%	1h	746.29	+0.107%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.71	+0.030%	$1.6M	$633K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.03	−0.062%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.58	+0.012%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.47	−0.002%	$268	—	10x	as long as short
Popdex METAUSDT	+0.0128%	1h	745.77	+0.038%	$179K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	+0.123%	$671K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.43	+0.394%	$173K	$46K	30x	as long as short
edgeX METAUSDC	+0.0232%	4h	745.42	−0.009%	$62K	$340K	10x	as long as short
Lighter META	+0.0384%	1h	745.87	+0.051%	$984K	$2.5M	20x	as long as short
Hotstuff META-PERP	+0.0456%	1h	745.72	+0.031%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0525%	1h	745.85	+0.048%	$72.5M	$122.8M	20x	as long as short
Phoenix META	+0.0685%	1h	746.70	+0.162%	$797K	$1.4M	20x	as long as short