Funding arb · Price arb /

META

RWAall META markets

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: QFEX against SunX+0.005%7-day average −0.017% · 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−$76as in the Price arb table

costs, in and out, $10k−$780.782% of the position

Long on SunX Short on QFEX

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)−0.123%−$12 · spread now +0.005%, 7d avg −0.017%

Together, before fees−0.103%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.023% dearer against SunX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	745.72	0	get 0.0000% / 8h	2h 04m	$995	$8.3M	20x
Short	QFEX META-USD	745.76	0.0046	get 0.0006% / 1h	4m 44s	$2.2M	$13.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now +0.005%Rate

Funding earned: $9.66
Price spread: +0.005% → −0.017%: $2.26
Slippage, 4 orders: −$60.22
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$66.3
Costs to cover: 0.782%
Break-even: 55.0 days

Slippage from SunX: live order book, 4 min ago; QFEX: live order book, 4 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 SunX live order book, 4 min ago	28.10 bp	32.1 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.01 bp	7.0 bp −$7	8.2 bp −$82	21.2 bp −$2,122	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
Deribit META_USDC-PERPETUAL	−0.0139%	1h	745.45	−0.036%	$31K	$263K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	745.91	+0.025%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0002%	1h	745.82	+0.013%	$483K	$557K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.56	−0.021%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.56	−0.022%	$549K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.64	−0.010%	$27.7M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.61	−0.015%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.88	+0.021%	$6.1M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.23	−0.066%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.88	+0.021%	$5.5M	$12.1M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	746.12	+0.054%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.23	+0.068%	$12K	$440K	10x	as long as short
SunX META-USDTlong	0.0000%	8h	745.72	long leg	$995	$8.3M	20x
HTX META-USDT	0.0000%	8h	745.60	−0.016%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.87	+0.020%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.04	+0.043%	$776K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.47	−0.034%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.36	+0.086%	—	$11K	25x	as long as short
QFEX META-USDshort	+0.0046%	1h	745.76	+0.005%	$2.2M	$13.8M	10x
Popdex METAUSDT	+0.0048%	1h	745.89	+0.023%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.62	−0.013%	$587K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.78	+0.008%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.57	−0.020%	$752K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	746.01	+0.039%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	746.39	+0.090%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.74	+0.003%	$1.6M	$658K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.62	−0.013%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.85	+0.017%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.69	−0.004%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.40	−0.043%	$656K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.310%	$172K	$46K	30x	as long as short
Lighter META	+0.0304%	1h	746.13	+0.055%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	746.54	+0.110%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0451%	1h	746.17	+0.060%	$76.2M	$125.8M	20x	as long as short
edgeX METAUSDC	+0.0674%	4h	745.96	+0.032%	$62K	$340K	10x	as long as short
Phoenix META	+0.0685%	1h	747.34	+0.217%	$798K	$1.4M	20x	as long as short