Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0025%/8h= +2.8% APRpaid last 24h +0.013%

Price spread now: QFEX against HTX+0.020%7-day average +0.019% · 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−$36as in the Price arb table

costs, in and out, $10k−$360.362% of the position

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.018%+$2 on $10k

Price spread, last 3 days (all we have)−0.079%−$8 · spread now +0.020%, 7d avg +0.019%

Together, before fees−0.061%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.019%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX META-USDT	740.00	0	get 0.0000% / 8h	6h 17m	$105K	$296K	30x
Short	QFEX META-USD	740.15	0.0025	get 0.0003% / 1h	17m 51s	$2.2M	$14.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against HTX. 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 HTXbpFee QFEXbpOrdersPrice spread, now +0.020%Rate

Funding earned: $5.31
Price spread: +0.020% → +0.019%: $0.1
Slippage, 4 orders: −$14.16
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$30.75
Costs to cover: 0.362%
Break-even: 47.5 days

Slippage from HTX: live order book, 49 min ago; QFEX: live order book, 6 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 HTX live order book, 49 min ago	2.84 bp	14.4 bp −$14	25.0 bp −$250	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	1.08 bp	6.1 bp −$6	6.7 bp −$67	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0122%	1h	739.93	−0.010%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.61	+0.082%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.97	−0.004%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.18	+0.025%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.01	+0.001%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.19	+0.026%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.00	0.000%	$352K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.28	+0.038%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.21	+0.029%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.46	+0.062%	$12K	$433K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.06	+0.008%	$830	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.57	−0.058%	$31K	$244K	10x	as long as short
HTX META-USDTlong	0.0000%	8h	740.00	long leg	$105K	$296K	30x
Phemex METAUSDT	0.0000%	4h	740.79	+0.107%	$2.0M	$8K	10x	as long as short
QFEX META-USDshort	+0.0025%	1h	740.15	+0.020%	$2.2M	$14.0M	10x
Lighter RH META	+0.0032%	1h	740.40	+0.054%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.80	−0.027%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.38	+0.051%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.16	+0.022%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.94	−0.008%	$557K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.20	+0.027%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.51	−0.066%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	740.00	0.000%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.89	+0.120%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.26	+0.035%	$1.6M	$485K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.56	−0.059%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.10	+0.014%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.99	−0.001%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.089%	$609K	$7.2M	10x	as long as short
Lighter META	+0.0136%	1h	740.35	+0.047%	$860K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0136%	1h	740.16	+0.022%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.42	+0.327%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0246%	1h	740.28	+0.038%	$68.4M	$120.0M	20x	as long as short
Phoenix META	+0.0313%	1h	740.85	+0.115%	$429K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0939%	4h	740.24	+0.033%	$62K	$335K	10x	as long as short