Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0027%/8h= +3.0% APRpaid last 24h +0.059%

Price spread now: QFEX against Binance−0.004%7-day average −0.006% · 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−$25as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.062%+$6 on $10k

Price spread, last 2 days (all we have)+0.016%+$2 · spread now −0.004%, 7d avg −0.006%

Together, before fees+0.078%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: +$1 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	743.51	0	get 0.0000% / 8h	42m 03s	$27.4M	$179.5M	20x
Short	QFEX META-USD	743.48	0.0027	get 0.0003% / 1h	42m 03s	$2.2M	$14.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.004%Rate

Funding earned: $5.75
Price spread: −0.004% → −0.006%: $0.22
Slippage, 4 orders: −$5.06
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$19.1
Costs to cover: 0.251%
Break-even: 30.3 days

Slippage from Binance: live order book, 1 min ago; QFEX: live order book, 7 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, 1 min ago	0.07 bp	6.0 bp −$6	12.0 bp −$120	41.1 bp −$4,111	doesn't fit
Sell QFEX live order book, 7 min ago	1.75 bp	6.7 bp −$7	7.9 bp −$79	18.8 bp −$1,877	doesn't fit

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	743.69	+0.024%	$327K	$1.1M	20x	as long as short
Nado META-PERP	−0.0075%	1h	743.40	−0.015%	$392K	$329K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.50	−0.001%	$459K	$537K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.52	+0.001%	$549K	$1.6M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	743.51	long leg	$27.4M	$179.5M	20x
Bybit METAUSDT	0.0000%	8h	743.64	+0.017%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.64	+0.017%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.27	−0.032%	$345K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.60	+0.012%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	743.70	+0.026%	$2.3M	$3.2M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	743.67	+0.021%	$12K	$486K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.48	−0.004%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.38	−0.017%	$30K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.42	−0.012%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.60	+0.012%	$2.0M	$7K	10x	as long as short
QFEX META-USDshort	+0.0027%	1h	743.48	−0.004%	$2.2M	$14.3M	10x
Lighter RH META	+0.0032%	1h	743.96	+0.061%	$760K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.20	−0.042%	$110K	$472K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.99	+0.065%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.66	+0.020%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.58	+0.009%	$543K	$841K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.64	+0.017%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.97	−0.073%	$780K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	743.52	+0.001%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0061%	1h	744.07	+0.076%	$52K	$72K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	743.28	−0.031%	$610K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.33	−0.024%	$1.6M	$379K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.24	−0.036%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.56	+0.007%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.54	+0.004%	$268	—	10x	as long as short
Phoenix META	+0.0129%	1h	743.73	+0.030%	$292K	$797K	20x	as long as short
Lighter META	+0.0136%	1h	743.92	+0.055%	$865K	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0136%	1h	743.79	+0.038%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0217%	1h	743.89	+0.051%	$67.6M	$122.3M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.22	+0.230%	$170K	$46K	30x	as long as short
edgeX METAUSDC	+0.0937%	4h	743.66	+0.021%	$62K	$333K	10x	as long as short