Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0564%/8h= +61.8% APRpaid last 24h +0.059%

Price spread now: tradeXYZ against HTX+0.078%49s7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$580.576% of the position

Long on HTX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.202%+$20 on $10k

Price spread, last 4 days (all we have)−0.166%−$17 · spread now +0.078%, 7d avg −0.006%

Together, before fees+0.035%+ Points / potential airdroptradeXYZ: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and tradeXYZ is 0.084% dearer against HTX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.006%. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.202% in total (about 10.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX META-USDT	746.93	0	get 0.0000% / 8h	3m 33s	$108K	$311K	30x
Short	tradeXYZ xyz:META	747.51	0.0564	get 0.0071% / 1h	3m 33s	$83.8M	$131.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.078%Rate

Funding earned: $118.45
Price spread: +0.078% → −0.006%: $8.36
Slippage, 4 orders: −$27.57
Fee HTX: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: $69.25
Costs to cover: 0.576%
Break-even: 2.9 days

Slippage from HTX: live order book, 34 min ago; tradeXYZ: 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, 34 min ago	12.68 bp	19.0 bp −$19	24.5 bp −$245	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 6 min ago	0.47 bp	9.7 bp −$10	10.9 bp −$109	doesn't fit	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	746.67	−0.035%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.59	−0.046%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.86	−0.010%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.07	+0.019%	$25.4M	$189.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.25	+0.043%	$7.6M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.19	+0.035%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.40	−0.071%	$473K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	747.02	+0.012%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	746.51	−0.056%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.79	−0.019%	$12K	$439K	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	747.00	+0.009%	$929	$8.0M	20x	as long as short
HTX META-USDTlong	0.0000%	8h	746.93	long leg	$108K	$311K	30x
Phemex METAUSDT	0.0000%	4h	747.33	+0.054%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0017%	1h	746.48	−0.060%	$482K	$560K	20x	as long as short
QFEX META-USD	+0.0031%	1h	746.81	−0.016%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0040%	1h	747.28	+0.047%	$797K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.59	−0.046%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.38	+0.060%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.73	−0.027%	$568K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.74	−0.025%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.57	−0.048%	$734K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	747.10	+0.023%	—	—	5x	as long as short
Deribit META_USDC-PERPETUAL	+0.0072%	1h	746.52	−0.055%	$34K	$276K	10x	as long as short
Popdex METAUSDT	+0.0080%	1h	747.06	+0.017%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.70	+0.104%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	747.17	+0.032%	$634	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.98	+0.007%	$1.6M	$730K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.01	−0.123%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.77	−0.021%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.56	−0.050%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.42	−0.068%	$643K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.54	+0.349%	$177K	$51K	30x	as long as short
Lighter META	+0.0456%	1h	747.43	+0.067%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	747.50	+0.076%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0471%	4h	746.62	−0.041%	$62K	$345K	10x	as long as short
tradeXYZ xyz:METAshort	+0.0564%	1h	747.51	+0.078%	$83.8M	$131.8M	20x
Phoenix META	+0.0750%	1h	748.04	+0.149%	$799K	$1.5M	20x	as long as short