Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0542%/8h= −59.4% APRpaid last 24h −0.086%

Price spread now: Nado against edgeX−0.047%7-day average −0.025% · 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−$39as in the Price arb table

costs, in and out, $10k−$360.364% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.500%−$50 on $10k

Price spread, last 4 days (all we have)−0.133%−$13 · spread now −0.047%, 7d avg −0.025%

Together, before fees−0.633%+ Points / potential airdropedgeX: Active · Nado: Active · farm board−$63 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Nado is 0.022% cheaper against edgeX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX METAUSDC	742.22	0.0506	pay 0.0253% / 4h	36m 47s	$62K	$336K	10x
Short	Nado META-PERP	741.88	−0.0037	pay 0.0005% / 1h	36m 47s	$480K	$553K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.047%Rate

Funding earned: −$113.86
Price spread: −0.047% → −0.025%: −$2.22
Slippage, 4 orders: −$20.43
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$152.51
Costs to cover: 0.364%
Break-even: never at this rate

Slippage from edgeX: live order book, 22 min ago; Nado: live order book, 21 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 edgeX live order book, 22 min ago	5.31 bp	9.9 bp −$10	11.5 bp −$115	doesn't fit	doesn't fit
Sell Nado live order book, 21 min ago	0.47 bp	4.0 bp −$4	12.0 bp −$120	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	742.41	+0.025%	$329K	$1.1M	20x	as long as short
Nado META-PERPshort	−0.0037%	1h	741.88	−0.047%	$480K	$553K	20x
Aster METAUSDT	0.0000%	8h	742.34	+0.015%	$466K	$551K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.23	+0.002%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.46	+0.032%	$27.5M	$180.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.24	+0.002%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.29	+0.009%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.03	−0.026%	$364K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.36	+0.019%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.48	+0.034%	$2.4M	$3.1M	—	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	742.51	+0.039%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.52	+0.040%	$984	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.77	−0.061%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.25	+0.004%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.35	+0.017%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.60	+0.051%	$768K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.37	+0.020%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.02	−0.027%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.50	+0.037%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.35	+0.017%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.12	−0.014%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.35	+0.017%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.69	−0.072%	$710K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	742.16	−0.008%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	743.15	+0.125%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.50	+0.037%	$1.6M	$540K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.72	−0.068%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.38	+0.021%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.25	+0.004%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	742.02	−0.027%	$614K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0144%	1h	742.35	+0.017%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.47	+0.303%	$172K	$48K	30x	as long as short
Lighter META	+0.0240%	1h	742.56	+0.045%	$858K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0276%	1h	742.47	+0.033%	$69.4M	$120.3M	20x	as long as short
edgeX METAUSDClong	+0.0506%	4h	742.22	long leg	$62K	$336K	10x
Phoenix META	+0.0591%	1h	743.35	+0.152%	$652K	$1.2M	20x	as long as short