Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0574%/8h= −62.9% APRpaid last 24h −0.059%

Price spread now: HTX against tradeXYZ−0.095%7-day average +0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$580.578% of the position

Long on tradeXYZ Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.202%−$20 on $10k

Price spread, last 4 days (all we have)+0.184%+$18 · spread now −0.095%, 7d avg +0.006%

Together, before fees−0.018%+ Points / potential airdroptradeXYZ: Active · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and HTX is 0.101% cheaper against tradeXYZ than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.006%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.202% in total (about -10.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:META	745.91	0.0574	pay 0.0072% / 1h	31m 25s	$81.6M	$130.1M	20x
Short	HTX META-USDT	745.20	0	get 0.0000% / 8h	31m 25s	$108K	$311K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against tradeXYZ. 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 tradeXYZbpFee HTXbpOrdersPrice spread, now −0.095%Rate

Funding earned: −$120.56
Price spread: −0.095% → +0.006%: −$10.12
Slippage, 4 orders: −$27.77
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee HTX: 6 bp × 2 orders: −$12
Net: −$188.45
Costs to cover: 0.578%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 8 min ago; HTX: live order book, 6 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 tradeXYZ live order book, 8 min ago	0.54 bp	10.2 bp −$10	11.3 bp −$113	doesn't fit	doesn't fit
Sell HTX live order book, 6 min ago	12.68 bp	18.7 bp −$19	28.3 bp −$283	doesn't fit	doesn't fit

META on 37 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	−0.066%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.30	−0.082%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.35	−0.075%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.56	−0.047%	$25.1M	$188.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.25	−0.088%	$7.5M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.69	−0.029%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.20	−0.095%	$469K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.56	−0.047%	$5.5M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	745.45	−0.062%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.78	−0.018%	$12K	$436K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.46	−0.060%	$921	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.97	−0.126%	$34K	$275K	10x	as long as short
HTX META-USDTshort	0.0000%	8h	745.20	−0.095%	$108K	$311K	30x
Phemex METAUSDT	0.0000%	4h	745.52	−0.052%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.48	−0.058%	$2.2M	$14.0M	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.16	−0.101%	$112K	$339K	10x	as long as short
Nado META-PERP	+0.0043%	1h	745.20	−0.096%	$480K	$560K	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.74	−0.023%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.29	−0.083%	$565K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.51	−0.054%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.03	−0.118%	$747K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	745.62	−0.039%	—	—	5x	as long as short
Lighter RH META	+0.0064%	1h	746.00	+0.012%	$790K	$3.1M	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.16	+0.034%	$48K	$90K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	745.75	−0.021%	$177K	$202K	20x	as long as short
Pacifica META	+0.0100%	1h	745.70	−0.028%	$25	$189	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.41	−0.067%	$1.6M	$718K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.62	−0.173%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.50	−0.055%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.49	−0.057%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.33	−0.078%	$645K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.69	+0.239%	$175K	$46K	30x	as long as short
Lighter META	+0.0472%	1h	746.13	+0.029%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0472%	1h	746.13	+0.029%	$33K	$105	20x	as long as short
tradeXYZ xyz:METAlong	+0.0574%	1h	745.91	long leg	$81.6M	$130.1M	20x
Phoenix META	+0.0750%	1h	746.81	+0.121%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0949%	4h	745.47	−0.058%	$62K	$345K	10x	as long as short