Funding you earn now, next payment 12:00 UTC−0.1242%/8h= −136.0% APRnext payment −$6.21 per $10,000 · paid last 24h −0.082%
Price spread now: Binance against KuCoin−0.314%7-day average −0.181% · you buy dearer than you sell
Net, funding: paid 7d − costs−$409as in the Funding arb table
Net, price: spread back to 7d avg − costs−$416as in the Price arb table
costs, in and out, $10k−$4034.026% of the position
Funding, last 7 days−0.067%−$7 on $10k
+Price spread, last 4 days (all we have)+0.510%+$51 · spread now −0.314%, 7d avg −0.181%
=Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and Binance is 0.134% cheaper against KuCoin than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.181%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.067% in total (about -3.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$6.21 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | KuCoin METISUSDTM | 3.5180 | 0.1342 | pay 0.0671% / 4h | 2h 19m | $675K | $147K | 30x |
| Short | Binance METISUSDT | 3.5069 | 0.0100 | get 0.0050% / 4h | 2h 19m | $2.2M | $3.5M | 50x |
KuCoin METISUSDTM
Binance METISUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against KuCoin. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$260.82
- Price spread: −0.314% → −0.181%
- −$13.37
- Slippage, 4 orders
- −$380.57
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$676.76
- Costs to cover
- 4.026%
- Break-even
- never at this rate
Slippage from KuCoin: live order book, 26 min ago; Binance: live order book, 9 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 KuCoin live order book, 26 min ago | 17.05 bp | 82.3 bp −$82 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 9 min ago | 2.86 bp | 26.5 bp −$26 | 159.2 bp −$1,592 | doesn't fit | doesn't fit |
METIS on 12 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective METIS/USDC PERP | +0.0033% | 1h | 3.2100 | −8.755% | — | $40K | 5.5x | as long as short |
| Aster METISUSDT | +0.0100% | 4h | 3.5091 | −0.253% | $11K | $22K | 5x | as long as short |
| Binance METISUSDTshort | +0.0100% | 4h | 3.5069 | −0.314% | $2.2M | $3.5M | 50x | |
| Bybit METISUSDT | +0.0100% | 4h | 3.5130 | −0.142% | $697K | $480K | 20x | as long as short |
| OKX METIS-USDT-SWAP | +0.0100% | 4h | 3.5090 | −0.256% | $394K | $835K | 10x | as long as short |
| Gate METIS_USDT | +0.0100% | 4h | 3.5100 | −0.227% | $162K | $116K | 50x | as long as short |
| MEXC METIS_USDT | +0.0100% | 4h | 3.5070 | −0.313% | $677K | $201K | 50x | as long as short |
| Bitget METISUSDT | +0.0100% | 4h | 3.5090 | −0.256% | $208K | $392K | 50x | as long as short |
| BingX METIS-USDT | +0.0100% | 4h | 3.5100 | −0.227% | — | $2.4M | — | as long as short |
| Variational Omni METIS | +0.0100% | 4h | 3.5143 | −0.106% | $33K | $34K | — | as long as short |
Injective METIS/USDC PERP
Aster METISUSDT
Bybit METISUSDT
OKX METIS-USDT-SWAP
Gate METIS_USDT
MEXC METIS_USDT
Bitget METISUSDT
BingX METIS-USDT
Variational Omni METISShow all 12 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_METISUSD | +0.0138% | 1h | 3.5086 | −0.266% | $2K | $878 | 10x | as long as short |
| KuCoin METISUSDTMlong | +0.1342% | 4h | 3.5180 | long leg | $675K | $147K | 30x |
Kraken Futures PF_METISUSD