Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0914%/8h= −100.1% APRpaid last 24h −0.094%

Price spread now: QFEX against edgeX−0.095%7-day average +0.007% · 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−$43as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on edgeX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.428%−$43 on $10k

Price spread, last 4 days (all we have)+0.096%+$10 · spread now −0.095%, 7d avg +0.007%

Together, before fees−0.331%+ Points / potential airdropedgeX: Active · farm board−$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and QFEX is 0.103% cheaper against edgeX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX METAUSDC	746.02	0.0945	pay 0.0473% / 4h	55m 38s	$62K	$343K	10x
Short	QFEX META-USD	745.31	0.0031	get 0.0004% / 1h	55m 38s	$2.2M	$13.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.095%Rate

Funding earned: −$191.94
Price spread: −0.095% → +0.007%: −$10.25
Slippage, 4 orders: −$13.65
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$234.84
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from edgeX: live order book, 48 min ago; QFEX: live order book, 4 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, 48 min ago	5.17 bp	9.8 bp −$10	11.3 bp −$113	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	1.54 bp	6.5 bp −$7	8.3 bp −$83	17.3 bp −$1,732	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	746.00	−0.003%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.38	−0.086%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.03	−0.133%	$547K	$1.9M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.17	−0.114%	$24.9M	$188.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.20	−0.110%	$7.4M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.40	−0.083%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.07	−0.128%	$463K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.47	−0.074%	$5.5M	$12.5M	100x	as long as short
Variational Omni META	0.0000%	8h	745.61	−0.056%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.19	+0.023%	$13K	$436K	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	745.77	−0.034%	$975	$8.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	745.49	−0.071%	$106K	$309K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.90	−0.016%	$2.0M	$8K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0005%	1h	745.38	−0.086%	$34K	$275K	10x	as long as short
QFEX META-USDshort	+0.0031%	1h	745.31	−0.095%	$2.2M	$13.9M	10x
Arcus META-USD	+0.0040%	1h	745.56	−0.062%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.15	+0.017%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.42	−0.081%	$565K	$597K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.70	−0.043%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.89	−0.152%	$723K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	745.00	−0.137%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.51	+0.066%	$52K	$81K	10x	as long as short
Lighter RH META	+0.0088%	1h	745.38	−0.086%	$786K	$3.1M	20x	as long as short
Nado META-PERP	+0.0090%	1h	745.61	−0.056%	$480K	$560K	20x	as long as short
Pacifica META	+0.0100%	1h	745.36	−0.089%	$13	$106	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.64	−0.051%	$1.6M	$705K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.11	−0.122%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.86	−0.022%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.68	−0.046%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.70	−0.043%	$647K	$7.9M	10x	as long as short
Popdex METAUSDT	+0.0128%	1h	745.26	−0.102%	$177K	$203K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.52	+0.335%	$173K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0320%	1h	746.41	+0.052%	$33K	$105	20x	as long as short
Lighter META	+0.0472%	1h	745.58	−0.059%	$1.1M	$2.8M	20x	as long as short
tradeXYZ xyz:META	+0.0524%	1h	745.63	−0.053%	$78.9M	$128.5M	20x	as long as short
Phoenix META	+0.0739%	1h	747.14	+0.150%	$798K	$1.5M	20x	as long as short
edgeX METAUSDClong	+0.0945%	4h	746.02	long leg	$62K	$343K	10x