Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0003%/8h= +0.4% APRpaid last 24h +0.011%

Price spread now: QFEX against Gate+0.049%7-day average +0.021% · 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−$44as in the Price arb table

costs, in and out, $10k−$470.469% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.016%+$2 on $10k

Price spread, last 7 days−0.032%−$3 · spread now +0.049%, 7d avg +0.021%

Together, before fees−0.016%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: QFEX is 0.028% dearer against Gate than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	740.11	0	get 0.0000% / 8h	1h 46m	$327K	$5.4M	100x
Short	QFEX META-USD	740.47	0.0003	get 0.0000% / 1h	46m 51s	$2.2M	$14.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now +0.049%Rate

Funding earned: $0.69
Price spread: +0.049% → +0.021%: $2.81
Slippage, 4 orders: −$21.9
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$43.4
Costs to cover: 0.469%
Break-even: 448.1 days

Slippage from Gate: live order book, 1 min ago; QFEX: live order book, 7 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 Gate live order book, 1 min ago	6.96 bp	15.9 bp −$16	36.5 bp −$365	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	1.96 bp	7.0 bp −$7	7.6 bp −$76	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	740.44	+0.045%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0070%	1h	740.46	+0.047%	$396K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.30	+0.160%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.36	+0.033%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.51	+0.054%	$26.9M	$177.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.50	+0.053%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.39	+0.038%	$6.0M	$13.1M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	740.11	long leg	$327K	$5.4M	100x
Bitget METAUSDT	0.0000%	8h	740.61	+0.068%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.53	+0.057%	$1.6M	$2.6M	—	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	740.86	+0.101%	$12K	$518K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.78	+0.091%	$973	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.53	+0.057%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.29	+0.024%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.67	+0.076%	$2.0M	$8K	10x	as long as short
QFEX META-USDshort	+0.0003%	1h	740.47	+0.049%	$2.2M	$14.2M	10x
Lighter RH META	+0.0032%	1h	740.85	+0.100%	$744K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.35	+0.032%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.05	+0.127%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.59	+0.065%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.67	+0.076%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.53	+0.057%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.48	+0.050%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.54	+0.058%	$649K	$4.0M	10x	as long as short
Aftermath Perps METAUSD	+0.0054%	1h	741.36	+0.168%	$48K	$64K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.90	+0.107%	$608K	$7.3M	10x	as long as short
Phoenix META	+0.0065%	1h	740.71	+0.081%	$291K	$791K	20x	as long as short
Lighter META	+0.0088%	1h	740.84	+0.099%	$859K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.47	+0.049%	$1.6M	$358K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.42	+0.042%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.69	+0.078%	$1K	$24	10x	as long as short
Hotstuff META-PERP	+0.0104%	1h	740.67	+0.076%	$33K	$105	20x	as long as short
Aevo META-PERP	+0.0104%	1h	740.49	+0.051%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0126%	1h	740.63	+0.070%	$68.5M	$120.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.50	+0.053%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0319%	4h	740.64	+0.072%	$62K	$330K	10x	as long as short