Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.037%

Price spread now: Aster against Popdex+0.091%7-day average +0.062% · 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−$78as in the Price arb table

costs, in and out, $10k−$800.805% of the position

Long on Popdex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.073%−$7 on $10k

Price spread, last 4 days (all we have)−0.193%−$19 · spread now +0.091%, 7d avg +0.062%

Together, before fees−0.267%+ Points / potential airdropAster: Stage 5 · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.028% dearer against Popdex than usual: you sell high and buy low (spread +0.091% now, against its 7-day average of +0.062%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex METAUSDT	740.59	0.0048	pay 0.0006% / 1h	47m 28s	$178K	$201K	20x
Short	Aster METAUSDT	741.26	0	get 0.0000% / 8h	1h 47m	$458K	$536K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Popdex. 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 PopdexbpFee AsterbpOrdersPrice spread, now +0.091%Rate

Funding earned: −$10.08
Price spread: +0.091% → +0.062%: $2.85
Slippage, 4 orders: −$66.08
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Aster: 4 bp × 2 orders: −$8
Net: −$87.71
Costs to cover: 0.805%
Break-even: never at this rate

Slippage from Popdex: live order book, 36 min ago; Aster: live order book, 35 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 Popdex live order book, 36 min ago	0.20 bp	4.1 bp −$4	7.1 bp −$71	doesn't fit	doesn't fit
Sell Aster live order book, 35 min ago	10.12 bp	27.0 bp −$27	doesn't fit	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	740.79	+0.027%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0070%	1h	740.46	−0.017%	$396K	$317K	20x	as long as short
Aster METAUSDTshort	0.0000%	8h	741.26	+0.091%	$458K	$536K	20x
Extended META_24_5-USD	0.0000%	1h	740.45	−0.019%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.56	−0.004%	$26.9M	$177.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.48	−0.015%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.39	−0.027%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.07	−0.070%	$327K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.62	+0.004%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.53	−0.008%	$1.6M	$2.6M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	740.86	+0.036%	$12K	$518K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.83	+0.032%	$1K	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.39	−0.027%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.65	+0.008%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.47	−0.016%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.89	+0.041%	$747K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.35	−0.032%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.05	+0.062%	—	$9K	25x	as long as short
Popdex METAUSDTlong	+0.0048%	1h	740.59	long leg	$178K	$201K	20x
Polymarket Perps META-USD	+0.0050%	1h	740.67	+0.011%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.55	−0.005%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.48	−0.015%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.54	−0.007%	$649K	$4.0M	10x	as long as short
Aftermath Perps METAUSD	+0.0054%	1h	741.36	+0.103%	$48K	$64K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.90	+0.042%	$608K	$7.3M	10x	as long as short
Phoenix META	+0.0065%	1h	740.71	+0.016%	$291K	$791K	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0074%	1h	740.62	+0.004%	$30K	$256K	10x	as long as short
Lighter META	+0.0096%	1h	740.89	+0.041%	$859K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.52	−0.009%	$1.6M	$358K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.42	−0.023%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.69	+0.014%	$1K	$24	10x	as long as short
Hotstuff META-PERP	+0.0104%	1h	740.67	+0.011%	$33K	$105	20x	as long as short
Aevo META-PERP	+0.0104%	1h	740.61	+0.003%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0130%	1h	740.67	+0.011%	$68.5M	$120.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.50	−0.012%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0319%	4h	740.64	+0.007%	$62K	$330K	10x	as long as short