Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.044%

Price spread now: HTX against Aftermath Perps−0.091%50s7-day average −0.022% · 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—prices read too far apart to compare

costs, in and out, $10k−$600.598% of the position

Long on Aftermath Perps Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.171%−$17 on $10k

Price spread, last 4 days (all we have)+0.418%+$42 · spread now −0.091%, 7d avg −0.022%

Together, before fees+0.247%+$25 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 HTX is 0.069% cheaper against Aftermath Perps than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.022%). Swap the legs. The two prices were read 50 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	Aftermath Perps METAUSD	737.91	0.0056	pay 0.0007% / 1h	8m 27s	$71K	$136K	10x
Short	HTX META-USDT	737.24	0	get 0.0000% / 8h	3h 08m	$106K	$306K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Aftermath Perps. 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 Aftermath PerpsbpFee HTXbpOrdersPrice spread, now −0.091%Rate

Funding earned: −$11.69
Price spread: −0.091% → −0.022%: −$6.94
Slippage, 4 orders: −$38.84
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$78.47
Costs to cover: 0.598%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 64 min ago; HTX: live order book, 52 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 Aftermath Perps live order book, 64 min ago	11.12 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 52 min ago	2.24 bp	8.2 bp −$8	13.3 bp −$133	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
Aster METAUSDT	0.0000%	8h	737.53	−0.052%	$477K	$490K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	737.14	−0.105%	$597K	$4.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	737.37	−0.073%	$20.0M	$177.3M	20x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	737.00	−0.124%	$5.8M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	737.58	−0.045%	$657K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	737.18	−0.099%	$5.1M	$12.7M	100x	as long as short
Variational Omni META	0.0000%	8h	737.28	−0.086%	$2.6M	$2.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	737.15	−0.103%	$12K	$402K	10x	as long as short
SunX META-USDT	0.0000%	8h	737.22	−0.094%	$550	$1.2M	20x	as long as short
HTX META-USDTshort	0.0000%	8h	737.24	−0.091%	$106K	$306K	30x

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex METAUSDT	0.0000%	4h	737.66	−0.034%	$2.0M	$10K	10x	as long as short
BloFin META-USDT	+0.0022%	8h	737.21	−0.095%	$344K	$767K	20x	as long as short
QFEX META-USD	+0.0032%	1h	737.36	−0.075%	$1.6M	$9.4M	10x	as long as short
Lighter RH META	+0.0032%	1h	737.49	−0.057%	$857K	$3.0M	20x	as long as short
Nado META-PERP	+0.0036%	1h	736.77	−0.154%	$446K	$509K	20x	as long as short
Arcus META-USD	+0.0040%	1h	736.82	−0.148%	$98K	$9.0M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	736.93	−0.133%	—	$28K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	737.17	−0.101%	$180K	$279K	20x	as long as short
SoDEX META-USD	+0.0050%	1h	737.13	−0.106%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	736.91	−0.136%	$563K	$5.4M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	737.19	−0.098%	—	—	5x	as long as short
Aftermath Perps METAUSDlong	+0.0056%	1h	737.91	long leg	$71K	$136K	10x
Hotstuff META-PERP	+0.0056%	1h	737.16	−0.102%	$33K	—	20x	as long as short
Bybit METAUSDT	+0.0083%	8h	737.54	−0.051%	$8.7M	$16.1M	100x	as long as short
Coinbase International META-PERP-INTX	+0.0088%	1h	736.96	−0.129%	$502K	$6.5M	10x	as long as short
Pacifica META	+0.0100%	1h	737.31	−0.082%	$47K	$141K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	736.81	−0.149%	$1.6M	$1.4M	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	737.30	−0.083%	$165K	$32K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	737.44	−0.064%	$2K	$1K	10x	as long as short
Aevo META-PERP	+0.0104%	1h	737.28	−0.086%	$265	$97	10x	as long as short
tradeXYZ xyz:META	+0.0180%	1h	737.27	−0.087%	$88.5M	$155.3M	20x	as long as short
edgeX METAUSDC	+0.0181%	4h	737.71	−0.027%	$102K	$408K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0211%	1h	737.31	−0.082%	$45K	$749K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	738.16	+0.034%	$169K	$132K	30x	as long as short
Lighter META	+0.0248%	1h	737.64	−0.037%	$1.8M	$5.8M	20x	as long as short
Polymarket Perps META-USD	+0.0267%	1h	737.64	−0.037%	$967K	$2.6M	10x	as long as short
Phoenix META	+0.0531%	1h	738.05	+0.019%	$788K	$1.3M	20x	as long as short