Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0002%/8h= −0.3% APRpaid last 24h −0.003%

Price spread now: OKX against Nado+0.060%7-day average +0.026% · 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−$29as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on Nado Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.079%+$8 on $10k

Price spread, last 4 days (all we have)+0.162%+$16 · spread now +0.060%, 7d avg +0.026%

Together, before fees+0.241%+ Points / potential airdropNado: Active · farm board+$24 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: OKX is 0.034% dearer against Nado than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado META-PERP	742.90	0.0002	pay 0.0000% / 1h	5m 36s	$480K	$553K	20x
Short	OKX META-USDT-SWAP	743.35	0	get 0.0000% / 8h	4h 05m	$6.0M	$13.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Nado. 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 NadobpFee OKXbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$0.48
Price spread: +0.060% → +0.026%: $3.39
Slippage, 4 orders: −$15.28
Fee Nado: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$29.38
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from Nado: live order book, 52 min ago; OKX: live order book, 3 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 Nado live order book, 52 min ago	0.47 bp	12.6 bp −$13	93.6 bp −$936	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.07 bp	6.8 bp −$7	14.9 bp −$149	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	743.85	+0.128%	$329K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.18	+0.037%	$468K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.37	+0.063%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.44	+0.072%	$28.4M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.80	+0.121%	$7.7M	$14.1M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	743.35	+0.060%	$6.0M	$13.5M	20x
Gate META_USDT	0.0000%	8h	743.01	+0.015%	$365K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.51	+0.082%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	743.51	+0.083%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.83	+0.125%	$12K	$448K	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	743.53	+0.085%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.33	+0.058%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.06	+0.156%	$2.0M	$8K	10x	as long as short
Nado META-PERPlong	+0.0002%	1h	742.90	long leg	$480K	$553K	20x
Lighter RH META	+0.0032%	1h	743.69	+0.106%	$778K	$3.1M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.30	+0.054%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.38	+0.064%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.52	+0.083%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.25	+0.047%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.50	+0.081%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.84	−0.008%	$819K	$4.6M	10x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	744.12	+0.164%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	743.51	+0.082%	$179K	$199K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.68	+0.105%	$1.6M	$556K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.70	−0.027%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.29	+0.052%	$1K	$24	10x	as long as short
Paradex META-USD-PERP	+0.0103%	8h	743.48	+0.077%	—	—	5x	as long as short
Aevo META-PERP	+0.0104%	1h	743.39	+0.066%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	+0.116%	$615K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0192%	1h	743.50	+0.081%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.14	+0.436%	$172K	$48K	30x	as long as short
Lighter META	+0.0296%	1h	743.75	+0.114%	$865K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0300%	1h	743.50	+0.081%	$69.6M	$120.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0329%	1h	743.03	+0.017%	$31K	$246K	10x	as long as short
Phoenix META	+0.0591%	1h	744.96	+0.277%	$718K	$1.2M	20x	as long as short
edgeX METAUSDC	+0.0935%	4h	743.70	+0.108%	$62K	$337K	10x	as long as short