Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0168%/8h= +18.4% APRpaid last 24h +0.041%

Price spread now: Popdex against BloFin−0.018%7-day average −0.010% · 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−$26as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on BloFin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.221%+$22 on $10k

Price spread, last 3 days (all we have)−0.066%−$7 · spread now −0.018%, 7d avg −0.010%

Together, before fees+0.154%+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin META-USDT	740.01	−0.0120	get 0.0120% / 8h	7h 47m	$327K	$1.1M	20x
Short	Popdex METAUSDT	739.88	0.0048	get 0.0006% / 1h	47m 21s	$177K	$194K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against BloFin. 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 BloFinbpFee PopdexbpOrdersPrice spread, now −0.018%Rate

Funding earned: $35.28
Price spread: −0.018% → −0.010%: −$0.74
Slippage, 4 orders: −$6.47
Fee BloFin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $9.67
Costs to cover: 0.249%
Break-even: 5.1 days

Slippage from BloFin: live order book, 5 min ago; Popdex: live order book, 26 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 BloFin live order book, 5 min ago	0.07 bp	7.6 bp −$8	13.4 bp −$134	doesn't fit	doesn't fit
Sell Popdex live order book, 26 min ago	0.40 bp	4.0 bp −$4	8.5 bp −$85	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
Phemex METAUSDT	−0.0167%	4h	740.41	+0.054%	$2.0M	$7K	10x	as long as short
BloFin META-USDTlong	−0.0120%	8h	740.01	long leg	$327K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	740.94	+0.125%	$463K	$548K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.94	−0.010%	$551K	$1.9M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.12	+0.015%	$27.4M	$178.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.07	+0.008%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.71	−0.041%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.61	−0.054%	$357K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.90	−0.015%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.73	−0.038%	$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	740.23	+0.030%	$12K	$482K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.09	+0.011%	$742	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.85	−0.022%	$106K	$292K	30x	as long as short
Nado META-PERP	+0.0027%	1h	739.62	−0.052%	$381K	$335K	20x	as long as short
Lighter RH META	+0.0032%	1h	740.21	+0.027%	$758K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.29	+0.038%	—	$11K	25x	as long as short
Popdex METAUSDTshort	+0.0048%	1h	739.88	−0.018%	$177K	$194K	20x
Polymarket Perps META-USD	+0.0050%	1h	739.69	−0.043%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.82	−0.026%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.24	−0.104%	$735K	$4.3M	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.96	−0.007%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	739.80	−0.028%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0068%	8h	739.91	−0.014%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.58	+0.077%	$49K	$78K	10x	as long as short
Hotstuff META-PERP	+0.0080%	1h	740.15	+0.019%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.13	+0.016%	$1.6M	$415K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.96	−0.007%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.15	+0.019%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.98	−0.004%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0107%	1h	739.74	−0.036%	$67.6M	$121.3M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	739.59	−0.057%	$601K	$7.3M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.48	−0.072%	$168K	$46K	30x	as long as short
Lighter META	+0.0256%	1h	740.26	+0.034%	$856K	$2.4M	20x	as long as short
Phoenix META	+0.0259%	1h	740.16	+0.020%	$277K	$930K	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0264%	1h	739.93	−0.011%	$30K	$250K	10x	as long as short
edgeX METAUSDC	+0.0367%	4h	740.09	+0.011%	$62K	$334K	10x	as long as short