Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.012%

Price spread now: Aster against QFEX+0.179%7-day average +0.066% · 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−$126as in the Price arb table

costs, in and out, $10k−$1381.378% of the position

Long on QFEX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.020%−$2 on $10k

Price spread, last 4 days (all we have)−0.222%−$22 · spread now +0.179%, 7d avg +0.066%

Together, before fees−0.243%+ Points / potential airdropAster: Stage 5 · farm board−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.114% dearer against QFEX than usual: you sell high and buy low (spread +0.179% now, against its 7-day average of +0.066%): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.2 days. At the pace of the last 4 days (−0.020% in total) that is about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX META-USD	745.19	0.0046	pay 0.0006% / 1h	48m 55s	$2.2M	$13.8M	10x
Short	Aster METAUSDT	746.53	0	get 0.0000% / 8h	2h 48m	$492K	$577K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against QFEX. 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 QFEXbpFee AsterbpOrdersPrice spread, now +0.179%Rate

Funding earned: −$9.66
Price spread: +0.179% → +0.066%: $11.35
Slippage, 4 orders: −$119.8
Fee QFEX: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$136.1
Costs to cover: 1.378%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; Aster: live order book, 64 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 QFEX live order book, 5 min ago	2.01 bp	7.0 bp −$7	8.7 bp −$87	19.9 bp −$1,991	doesn't fit
Sell Aster live order book, 64 min ago	13.36 bp	26.7 bp −$27	63.5 bp −$635	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	745.42	+0.031%	$333K	$1.1M	20x	as long as short
Aster METAUSDTshort	0.0000%	8h	746.53	+0.179%	$492K	$577K	20x
Extended META_24_5-USD	0.0000%	1h	745.23	+0.005%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.43	+0.032%	$28.3M	$181.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.35	+0.021%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.50	+0.042%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.03	−0.021%	$429K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	745.99	+0.107%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.12	+0.124%	$12K	$448K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.63	+0.059%	$775	$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
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.09	−0.013%	$31K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.24	+0.007%	$106K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.06	+0.117%	$2.0M	$8K	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.58	+0.052%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.54	+0.047%	—	$11K	25x	as long as short
QFEX META-USDlong	+0.0046%	1h	745.19	long leg	$2.2M	$13.8M	10x
Polymarket Perps META-USD	+0.0050%	1h	745.10	−0.012%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.32	+0.017%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.07	−0.016%	$759K	$4.5M	10x	as long as short
Nado META-PERP	+0.0058%	1h	744.98	−0.028%	$482K	$557K	20x	as long as short
Lighter RH META	+0.0064%	1h	745.58	+0.052%	$768K	$2.9M	20x	as long as short
Paradex META-USD-PERP	+0.0074%	8h	745.09	−0.013%	—	—	5x	as long as short
Bitget METAUSDT	+0.0074%	8h	745.50	+0.042%	$5.5M	$11.9M	100x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	745.98	+0.106%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.61	+0.056%	$1.6M	$633K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.03	−0.021%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.36	+0.023%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.24	+0.007%	$268	—	10x	as long as short
Popdex METAUSDT	+0.0120%	1h	745.43	+0.032%	$179K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	+0.164%	$671K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.43	+0.435%	$173K	$46K	30x	as long as short
Lighter META	+0.0368%	1h	745.67	+0.064%	$983K	$2.5M	20x	as long as short
Hotstuff META-PERP	+0.0472%	1h	745.92	+0.098%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0522%	1h	745.58	+0.052%	$72.3M	$122.7M	20x	as long as short
edgeX METAUSDC	+0.0524%	4h	745.99	+0.108%	$62K	$339K	10x	as long as short
Phoenix META	+0.0685%	1h	746.70	+0.203%	$797K	$1.4M	20x	as long as short