Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0288%/8h= −31.5% APRpaid last 24h −0.022%

Price spread now: OKX against Hotstuff−0.015%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 OKX

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff META-PERP	746.46	0.0288	pay 0.0036% / 1h	58m 06s	$33K	$105	20x
Short	OKX META-USDT-SWAP	746.35	0	get 0.0000% / 8h	58m 06s	$6.0M	$12.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$60.48
Price spread: −0.015% → 0.000%: −$1.47
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$76.95
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; OKX: live order book, 5 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 OKX live order book, 5 min ago	0.81 bp	8.0 bp −$8	15.9 bp −$159	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 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	745.94	−0.070%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.93	−0.071%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.04	−0.057%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.33	−0.017%	$25.0M	$188.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.02	−0.059%	$7.4M	$15.4M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	746.35	−0.015%	$6.0M	$12.7M	20x
Gate META_USDT	0.0000%	8h	745.69	−0.103%	$464K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.17	−0.039%	$5.6M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	745.62	−0.112%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.71	−0.100%	$12K	$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	746.10	−0.048%	$792	$8.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.83	−0.084%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.12	−0.046%	$106K	$309K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.22	−0.032%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.91	−0.074%	$2.2M	$13.9M	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.55	−0.122%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.31	−0.020%	—	$12K	25x	as long as short
Lighter RH META	+0.0048%	1h	746.57	+0.015%	$787K	$3.1M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.74	−0.096%	$565K	$597K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.16	−0.040%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.42	−0.139%	$696K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	745.82	−0.086%	—	—	5x	as long as short
Nado META-PERP	+0.0071%	1h	745.63	−0.112%	$481K	$559K	20x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	746.31	−0.020%	$52K	$81K	10x	as long as short
Pacifica META	+0.0100%	1h	745.48	−0.132%	$13	$106	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.77	−0.092%	$1.6M	$702K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.11	−0.181%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.12	−0.046%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.99	−0.063%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.50	−0.129%	$649K	$7.8M	10x	as long as short
Popdex METAUSDT	+0.0176%	1h	746.18	−0.038%	$178K	$203K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.52	+0.276%	$173K	$46K	30x	as long as short
Hotstuff META-PERPlong	+0.0288%	1h	746.46	long leg	$33K	$105	20x
Lighter META	+0.0408%	1h	746.69	+0.031%	$1.1M	$2.8M	20x	as long as short
tradeXYZ xyz:META	+0.0520%	1h	746.61	+0.020%	$78.9M	$128.4M	20x	as long as short
Phoenix META	+0.0739%	1h	746.85	+0.052%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0835%	4h	745.64	−0.110%	$62K	$345K	10x	as long as short