Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0360%/8h= −39.4% APRpaid last 24h −0.027%

Price spread now: Gate against Hotstuff−0.085%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Gate is 0.085% cheaper against Hotstuff than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff META-PERP	743.66	0.0360	pay 0.0045% / 1h	27m 03s	$33K	$105	20x
Short	Gate META_USDT	743.03	0	get 0.0000% / 8h	2h 27m	$440K	$5.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hotstuff. 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 HotstuffbpFee GatebpOrdersPrice spread, now −0.085%Rate

Funding earned: −$75.6
Price spread: −0.085% → 0.000%: −$8.47
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$104.07
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Gate: live order book, 1 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Gate live order book, 1 min ago	6.20 bp	15.3 bp −$15	34.3 bp −$343	doesn't fit	doesn't fit

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	743.43	−0.031%	$331K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.68	+0.137%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.51	−0.020%	$544K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.75	+0.012%	$27.7M	$182.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.72	+0.008%	$7.4M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.46	−0.027%	$6.0M	$12.5M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	743.03	−0.085%	$440K	$5.9M	100x
Bitget METAUSDT	0.0000%	8h	743.95	+0.039%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	742.59	−0.144%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.10	−0.075%	$12K	$442K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	743.63	−0.004%	$712	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.31	−0.047%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.51	−0.020%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.22	−0.059%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0027%	1h	743.11	−0.074%	$480K	$558K	20x	as long as short
Lighter RH META	+0.0032%	1h	743.98	+0.043%	$769K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	742.67	−0.133%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.67	+0.001%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.25	−0.055%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.50	−0.022%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.12	−0.073%	$585K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.37	−0.039%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.89	−0.104%	$729K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0077%	8h	743.24	−0.057%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	743.58	−0.010%	$51K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.50	−0.022%	$1.6M	$643K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.39	−0.171%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.69	+0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.55	−0.015%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.48	−0.024%	$658K	$7.7M	10x	as long as short
edgeX METAUSDC	+0.0135%	4h	743.17	−0.066%	$62K	$341K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.90	+0.301%	$172K	$46K	30x	as long as short
Lighter META	+0.0328%	1h	744.08	+0.056%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERPlong	+0.0360%	1h	743.66	long leg	$33K	$105	20x
tradeXYZ xyz:META	+0.0441%	1h	743.90	+0.032%	$74.7M	$124.8M	20x	as long as short
Phoenix META	+0.0685%	1h	744.15	+0.066%	$795K	$1.4M	20x	as long as short