Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0090%/8h= +9.8% APRpaid last 24h −0.026%

Price spread now: Nado against Binance−0.024%7-day average −0.034% · 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−$27as in the Price arb table

costs, in and out, $10k−$280.282% of the position

Long on Binance Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.027%−$3 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now −0.024%, 7d avg −0.034%

Together, before fees−0.070%+ Points / potential airdropNado: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.034%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance METAUSDT	745.79	0	get 0.0000% / 8h	56m 26s	$25.0M	$188.6M	20x
Short	Nado META-PERP	745.61	0.0090	get 0.0011% / 1h	56m 26s	$480K	$560K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Binance. 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 BinancebpFee NadobpOrdersPrice spread, now −0.024%Rate

Funding earned: $18.89
Price spread: −0.024% → −0.034%: $0.97
Slippage, 4 orders: −$11.23
Fee Binance: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$8.37
Costs to cover: 0.282%
Break-even: 10.1 days

Slippage from Binance: live order book, 2 min ago; Nado: live order book, 47 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 Binance live order book, 2 min ago	0.07 bp	6.2 bp −$6	12.4 bp −$124	40.6 bp −$4,062	doesn't fit
Sell Nado live order book, 47 min ago	0.87 bp	5.2 bp −$5	13.3 bp −$133	doesn't fit	doesn't fit

META on 37 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	746.00	+0.028%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.84	+0.007%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.83	+0.005%	$548K	$1.8M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	745.79	long leg	$25.0M	$188.6M	20x
Bybit METAUSDT	0.0000%	8h	745.72	−0.009%	$7.5M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.91	+0.016%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.62	−0.023%	$464K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.77	−0.003%	$5.5M	$12.5M	100x	as long as short
Variational Omni META	0.0000%	8h	745.62	−0.022%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.71	−0.011%	$12K	$436K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.07	+0.038%	$944	$8.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.77	−0.003%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.02	+0.031%	$106K	$309K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.21	+0.056%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.78	−0.001%	$2.2M	$13.9M	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.70	−0.012%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.15	+0.048%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.42	−0.050%	$565K	$597K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.03	+0.032%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.15	−0.086%	$723K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	745.67	−0.016%	—	—	5x	as long as short
Lighter RH META	+0.0080%	1h	746.03	+0.032%	$786K	$3.1M	20x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	746.58	+0.106%	$52K	$81K	10x	as long as short
Nado META-PERPshort	+0.0090%	1h	745.61	−0.024%	$480K	$560K	20x
Pacifica META	+0.0100%	1h	745.37	−0.057%	$13	$106	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.83	+0.005%	$1.6M	$704K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.11	−0.091%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.10	+0.042%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.94	+0.020%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.50	−0.039%	$649K	$7.8M	10x	as long as short
Popdex METAUSDT	+0.0160%	1h	745.81	+0.003%	$177K	$203K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.52	+0.366%	$173K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0320%	1h	746.41	+0.083%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0425%	4h	745.91	+0.016%	$62K	$342K	10x	as long as short
Lighter META	+0.0456%	1h	746.45	+0.088%	$1.1M	$2.8M	20x	as long as short
tradeXYZ xyz:META	+0.0537%	1h	746.36	+0.076%	$78.9M	$128.4M	20x	as long as short
Phoenix META	+0.0739%	1h	747.14	+0.181%	$798K	$1.5M	20x	as long as short