Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h +0.006%

Price spread now: Nado against Bitget−0.059%7-day average −0.031% · 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−$40as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on Bitget Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.076%−$8 on $10k

Price spread, last 4 days (all we have)−0.122%−$12 · spread now −0.059%, 7d avg −0.031%

Together, before fees−0.198%+ Points / potential airdropNado: Active · farm board−$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Nado is 0.028% cheaper against Bitget than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget METAUSDT	745.16	0	get 0.0000% / 8h	3h 45m	$5.4M	$11.8M	100x
Short	Nado META-PERP	744.72	−0.0017	pay 0.0002% / 1h	45m 34s	$481K	$553K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Bitget. 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 BitgetbpFee NadobpOrdersPrice spread, now −0.059%Rate

Funding earned: −$3.53
Price spread: −0.059% → −0.031%: −$2.81
Slippage, 4 orders: −$17.92
Fee Bitget: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$43.27
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Nado: 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 Bitget live order book, 3 min ago	1.01 bp	8.8 bp −$9	16.0 bp −$160	30.9 bp −$3,095	doesn't fit
Sell Nado live order book, 7 min ago	0.67 bp	5.1 bp −$5	13.2 bp −$132	doesn't fit	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	745.02	−0.019%	$329K	$1.1M	20x	as long as short
Nado META-PERPshort	−0.0017%	1h	744.72	−0.059%	$481K	$553K	20x
Aster METAUSDT	0.0000%	8h	744.74	−0.056%	$469K	$554K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.96	−0.026%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.19	+0.004%	$28.4M	$183.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.98	−0.024%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.15	−0.001%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.45	−0.095%	$364K	$5.8M	100x	as long as short
Bitget METAUSDTlong	0.0000%	8h	745.16	long leg	$5.4M	$11.8M	100x
Variational Omni META	0.0000%	8h	744.99	−0.022%	$2.4M	$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	743.99	−0.157%	$12K	$450K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.94	−0.030%	$702	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.57	−0.079%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.00	−0.021%	$106K	$302K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.07	−0.012%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	745.41	+0.034%	$782K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.39	−0.103%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.16	0.000%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.16	0.000%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.75	−0.055%	$586K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.96	−0.027%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.20	−0.129%	$801K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	744.91	−0.034%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.11	−0.006%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0096%	8h	744.99	−0.023%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.81	−0.047%	$1.6M	$602K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.16	−0.134%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.16	0.000%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.98	−0.024%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	744.02	−0.153%	$617K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.08	−0.145%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	745.22	+0.008%	$33K	$105	20x	as long as short
Lighter META	+0.0248%	1h	745.37	+0.028%	$864K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0333%	1h	745.33	+0.023%	$70.1M	$121.0M	20x	as long as short
Phoenix META	+0.0633%	1h	746.12	+0.129%	$768K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0979%	4h	744.81	−0.047%	$62K	$339K	10x	as long as short