Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0328%/8h= +35.9% APRpaid last 24h −0.003%

Price spread now: Hotstuff against Variational Omni+0.027%46s7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Hotstuff is 0.027% dearer against Variational Omni than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 46 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	Variational Omni META	742.77	0	get 0.0000% / 8h	5h 05m	$2.4M	$3.1M	—
Short	Hotstuff META-PERP	742.97	0.0328	get 0.0041% / 1h	5m 38s	$33K	$105	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against Variational Omni. 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 Variational OmnibpFee HotstuffbpOrdersPrice spread, now +0.027%Rate

Funding earned: $68.88
Price spread: +0.027% → 0.000%: $2.69
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $66.57
Costs to cover: 0.050%
Break-even: 0.2 days

Slippage unknown: Variational Omni: RFQ quote, 4 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 Variational Omni RFQ quote, 4 min ago	2.45 bp	doesn't fit	21.3 bp −$213	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 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
Deribit META_USDC-PERPETUAL	−0.0208%	1h	742.48	−0.039%	$31K	$245K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	742.37	−0.054%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0021%	1h	742.81	+0.006%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.70	−0.009%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.76	−0.001%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.97	+0.027%	$27.4M	$179.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.97	+0.027%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.93	+0.022%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.50	−0.036%	$362K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.92	+0.020%	$5.5M	$11.5M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni METAlong	0.0000%	8h	742.77	long leg	$2.4M	$3.1M	—
GRVT META_USDT_Perp	0.0000%	8h	741.81	−0.129%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.88	+0.015%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.56	−0.028%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.61	−0.022%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.27	+0.067%	$768K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	742.75	−0.003%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.01	−0.102%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.31	+0.073%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.88	+0.015%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.82	+0.007%	$560K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.96	+0.026%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.49	−0.038%	$721K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	742.98	+0.028%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.53	−0.032%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.46	−0.042%	$613K	$7.2M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.83	+0.008%	$1.6M	$527K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.06	−0.230%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.96	+0.026%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.76	−0.002%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.78	−0.133%	$171K	$48K	30x	as long as short
Lighter META	+0.0264%	1h	743.20	+0.058%	$862K	$2.4M	20x	as long as short
Hotstuff META-PERPshort	+0.0328%	1h	742.97	+0.027%	$33K	$105	20x
tradeXYZ xyz:META	+0.0334%	1h	743.09	+0.043%	$69.4M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	742.66	−0.015%	$586K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0767%	4h	741.69	−0.145%	$62K	$336K	10x	as long as short