Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.1600%/8h= −175.2% APRpaid last 24h −0.013%

Price spread now: Hotstuff against SunX−0.012%256s7-day average — · you buy dearer than you sell

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

Long on SunX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$48 a day on $10k at the current rate. The two prices were read 256 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	738.82	0	get 0.0000% / 8h	4h 47m	$718	$6.7M	20x
Short	Hotstuff META-PERP	738.73	−0.1600	pay 0.0200% / 1h	47m 01s	$33K	$105	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against SunX. 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 SunXbpFee HotstuffbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$336
Price spread: −0.012% → 0.000%: −$1.22
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$350.22
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 5 min ago; Hotstuff: 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 SunX live order book, 5 min ago	28.09 bp	32.1 bp −$32	61.2 bp −$612	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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 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-PERPshort	−0.1600%	1h	738.73	−0.012%	$33K	$105	20x
BloFin META-USDT	−0.0120%	8h	738.56	−0.035%	$340K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	738.93	+0.015%	$491K	$646K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	738.03	−0.107%	$547K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	738.28	−0.073%	$25.2M	$192.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	738.27	−0.074%	$7.4M	$16.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	738.72	−0.014%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	737.95	−0.118%	$486K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	738.38	−0.060%	$5.9M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	738.31	−0.069%	$2.6M	$3.1M	—	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	738.42	−0.054%	$12K	$422K	10x	as long as short
SunX META-USDTlong	0.0000%	8h	738.82	long leg	$718	$6.7M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	738.06	−0.103%	$36K	$209K	10x	as long as short
HTX META-USDT	0.0000%	8h	738.26	−0.076%	$108K	$309K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	738.64	−0.024%	$2.0M	$9K	10x	as long as short
edgeX METAUSDC	+0.0018%	4h	738.42	−0.055%	$62K	$351K	10x	as long as short
Lighter RH META	+0.0032%	1h	738.53	−0.039%	$855K	$2.8M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	738.66	−0.022%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	738.54	−0.038%	$177K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	738.09	−0.099%	$556K	$590K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	738.40	−0.057%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	737.60	−0.165%	$753K	$5.1M	10x	as long as short
QFEX META-USD	+0.0056%	1h	738.33	−0.066%	$2.2M	$14.0M	10x	as long as short
Paradex META-USD-PERP	+0.0066%	8h	738.12	−0.095%	—	—	5x	as long as short
Nado META-PERP	+0.0075%	1h	738.13	−0.094%	$473K	$536K	20x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	739.13	+0.042%	$53K	$85K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0088%	1h	738.14	−0.092%	$670K	$7.4M	10x	as long as short
Pacifica META	+0.0100%	1h	737.99	−0.112%	$611	$3K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	738.49	−0.045%	$1.6M	$938K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	737.54	−0.173%	$165K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	738.43	−0.053%	$1K	$338	10x	as long as short
Aevo META-PERP	+0.0104%	1h	738.02	−0.108%	$266	—	10x	as long as short
Arcus META-USD	+0.0209%	1h	737.94	−0.119%	$110K	$292K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.69	+0.253%	$167K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0272%	1h	738.23	−0.080%	$86.8M	$136.2M	20x	as long as short
Lighter META	+0.0312%	1h	738.62	−0.027%	$1.2M	$2.6M	20x	as long as short
Phoenix META	+0.0626%	1h	739.25	+0.058%	$789K	$1.6M	20x	as long as short