Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0225%/8h= +24.7% APRpaid last 24h +0.079%

Price spread now: edgeX against Popdex−0.058%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$280.282% of the position

Long on Popdex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.369%+$37 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.058%, 7d avg −0.011%

Together, before fees+0.392%+ Points / potential airdropedgeX: Active · farm board+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.047% cheaper against Popdex than usual: you would sell low and buy high (spread −0.058% now, against its 7-day average of −0.011%). If the spread goes back, that is −$5 on $10k: about 17 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex METAUSDT	745.77	0.0136	pay 0.0017% / 1h	45m 00s	$179K	$199K	20x
Short	edgeX METAUSDC	745.34	0.0361	get 0.0181% / 4h	2h 45m	$62K	$340K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.058%Rate

Funding earned: $47.33
Price spread: −0.058% → −0.011%: −$4.69
Slippage, 4 orders: −$12.79
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $14.44
Costs to cover: 0.282%
Break-even: 4.9 days

Slippage from Popdex: live order book, 4 min ago; edgeX: 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 Popdex live order book, 4 min ago	0.40 bp	3.6 bp −$4	6.3 bp −$63	doesn't fit	doesn't fit
Sell edgeX live order book, 3 min ago	5.16 bp	9.8 bp −$10	11.3 bp −$113	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	745.65	−0.016%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.23	+0.062%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.54	−0.031%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.72	−0.007%	$28.3M	$181.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.68	−0.012%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.77	0.000%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.11	−0.088%	$434K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	745.64	−0.017%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.37	−0.054%	$12K	$450K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.81	+0.005%	$823	$8.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX META-USDT	0.0000%	8h	745.54	−0.031%	$106K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.91	+0.019%	$2.0M	$8K	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.21	−0.075%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.70	−0.009%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.62	−0.020%	$2.2M	$13.7M	10x	as long as short
Bitget METAUSDT	+0.0049%	8h	745.76	−0.001%	$5.4M	$11.9M	100x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.26	−0.068%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.62	−0.020%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.04	−0.098%	$758K	$4.5M	10x	as long as short
Nado META-PERP	+0.0055%	1h	745.04	−0.098%	$482K	$556K	20x	as long as short
Lighter RH META	+0.0056%	1h	745.79	+0.003%	$770K	$2.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0072%	1h	745.25	−0.070%	$31K	$256K	10x	as long as short
Paradex META-USD-PERP	+0.0078%	8h	745.43	−0.046%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.29	+0.070%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.71	−0.008%	$1.6M	$634K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.41	−0.182%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.59	−0.024%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.47	−0.040%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	+0.086%	$671K	$7.6M	10x	as long as short
Popdex METAUSDTlong	+0.0136%	1h	745.77	long leg	$179K	$199K	20x
Injective META/USDC PERP	+0.0220%	1h	748.43	+0.357%	$173K	$46K	30x	as long as short
edgeX METAUSDCshort	+0.0361%	4h	745.34	−0.058%	$62K	$340K	10x
Lighter META	+0.0384%	1h	745.88	+0.015%	$984K	$2.5M	20x	as long as short
Hotstuff META-PERP	+0.0448%	1h	745.82	+0.007%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0523%	1h	745.81	+0.005%	$72.5M	$122.9M	20x	as long as short
Phoenix META	+0.0685%	1h	746.70	+0.125%	$797K	$1.4M	20x	as long as short