Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0031%/8h= +3.4% APRpaid last 24h +0.007%

Price spread now: QFEX against Bitget+0.008%56s7-day average −0.029% · you sell dearer than you buy

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−$310.310% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.017%+$2 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.008%, 7d avg −0.029%

Together, before fees−0.011%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.037% dearer against Bitget than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.029%. The two prices were read 56 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	Bitget METAUSDT	747.50	0	get 0.0000% / 8h	12m 41s	$5.7M	$12.4M	100x
Short	QFEX META-USD	747.56	0.0031	get 0.0004% / 1h	12m 41s	$2.2M	$14.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.008%Rate

Funding earned: $6.55
Price spread: +0.008% → −0.029%: $3.72
Slippage, 4 orders: −$8.96
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$20.69
Costs to cover: 0.310%
Break-even: 29.1 days

Slippage from Bitget: live order book, 1 min ago; QFEX: live order book, 6 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, 1 min ago	0.87 bp	10.7 bp −$11	20.3 bp −$203	32.4 bp −$3,244	doesn't fit
Sell QFEX live order book, 6 min ago	1.67 bp	6.7 bp −$7	6.8 bp −$68	16.6 bp −$1,664	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	747.65	+0.020%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.85	−0.087%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	747.27	−0.031%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.45	−0.007%	$25.4M	$189.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.40	−0.013%	$7.5M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.49	−0.001%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	747.03	−0.063%	$475K	$6.3M	100x	as long as short
Bitget METAUSDTlong	0.0000%	8h	747.50	long leg	$5.7M	$12.4M	100x
Variational Omni META	0.0000%	8h	746.46	−0.139%	$2.5M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.41	−0.012%	$12K	$439K	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	747.85	+0.047%	$846	$8.0M	20x	as long as short
HTX META-USDT	0.0000%	8h	747.47	−0.004%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.52	+0.003%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0017%	1h	746.84	−0.088%	$482K	$560K	20x	as long as short
QFEX META-USDshort	+0.0031%	1h	747.56	+0.008%	$2.2M	$14.1M	10x
Lighter RH META	+0.0040%	1h	747.63	+0.017%	$798K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	747.05	−0.060%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.92	+0.056%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	747.14	−0.048%	$568K	$625K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	747.52	+0.003%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	747.23	−0.036%	$735K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	747.31	−0.026%	—	—	5x	as long as short
Popdex METAUSDT	+0.0064%	1h	747.53	+0.004%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.84	+0.045%	$48K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	747.50	0.000%	$37	$368	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	747.04	−0.062%	$1.6M	$723K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.69	−0.108%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.30	−0.027%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	747.27	−0.031%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	747.27	−0.031%	$643K	$7.9M	10x	as long as short
edgeX METAUSDC	+0.0185%	4h	747.20	−0.040%	$62K	$346K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0192%	1h	747.06	−0.059%	$34K	$276K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.10	+0.080%	$177K	$51K	30x	as long as short
Lighter META	+0.0448%	1h	747.76	+0.035%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0488%	1h	747.74	+0.032%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0573%	1h	747.75	+0.033%	$83.4M	$131.5M	20x	as long as short
Phoenix META	+0.0750%	1h	748.05	+0.074%	$799K	$1.5M	20x	as long as short