Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0777%/8h= −85.1% APRpaid last 24h −0.071%

Price spread now: Hotstuff against edgeX+0.115%58s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · Hotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.115% dearer against edgeX than usual: you sell high and buy low (spread +0.115% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 12 hours. The two prices were read 58 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	edgeX METAUSDC	743.03	0.0897	pay 0.0448% / 4h	45m 47s	$62K	$332K	10x
Short	Hotstuff META-PERP	743.88	0.0120	get 0.0015% / 1h	45m 47s	$33K	$105	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff against edgeX. 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 edgeXbpFee HotstuffbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$163.16
Price spread: +0.115% → 0.000%: $11.47
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$165.69
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 32 min ago; Hotstuff: no order-book sample. Net counts fees only.

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 edgeX live order book, 32 min ago	5.13 bp	9.8 bp −$10	11.4 bp −$114	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	743.67	+0.086%	$281K	$1.1M	20x	as long as short
Nado META-PERP	−0.0077%	1h	743.54	+0.069%	$392K	$329K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.23	+0.028%	$459K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.61	+0.078%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.68	+0.088%	$27.4M	$179.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.55	+0.070%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.65	+0.084%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.39	+0.049%	$345K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.71	+0.092%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	742.97	−0.007%	$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	743.15	+0.016%	$13K	$486K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.58	+0.074%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.52	+0.066%	$30K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.49	+0.062%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.39	+0.049%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	743.53	+0.068%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	744.03	+0.135%	$760K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.27	+0.033%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.11	+0.146%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.73	+0.095%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.70	+0.091%	$543K	$841K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.70	+0.091%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.17	+0.019%	$780K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	743.65	+0.084%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0061%	1h	743.69	+0.090%	$52K	$72K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	743.28	+0.034%	$610K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.40	+0.050%	$1.6M	$378K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.72	−0.041%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.63	+0.081%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.49	+0.062%	$268	—	10x	as long as short
Hotstuff META-PERPshort	+0.0120%	1h	743.88	+0.115%	$33K	$105	20x
Phoenix META	+0.0129%	1h	743.34	+0.042%	$292K	$797K	20x	as long as short
Lighter META	+0.0136%	1h	743.98	+0.128%	$865K	$2.6M	20x	as long as short
tradeXYZ xyz:META	+0.0205%	1h	743.94	+0.123%	$67.6M	$122.3M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.73	−0.040%	$169K	$46K	30x	as long as short
edgeX METAUSDClong	+0.0897%	4h	743.03	long leg	$62K	$332K	10x