Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h −0.022%

Price spread now: Coinbase International against Binance−0.051%7-day average −0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$250.255% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 2 days (all we have)−0.100%−$10 · spread now −0.051%, 7d avg −0.110%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.059% dearer against Binance than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.110%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance METAUSDT	740.18	0	get 0.0000% / 8h	7h 08m	$27.4M	$179.7M	20x
Short	Coinbase International META-PERP-INTX	739.80	0.0144	get 0.0018% / 1h	8m 37s	$614K	$7.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now −0.051%Rate

Funding earned: $30.24
Price spread: −0.051% → −0.110%: $5.93
Slippage, 4 orders: −$5.49
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $10.68
Costs to cover: 0.255%
Break-even: 4.5 days

Slippage from Binance: live order book, 5 min ago; Coinbase International: live order book, 5 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 Binance live order book, 5 min ago	0.07 bp	5.8 bp −$6	14.6 bp −$146	47.7 bp −$4,765	doesn't fit
Sell Coinbase International live order book, 5 min ago	1.89 bp	6.9 bp −$7	10.2 bp −$102	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	740.10	−0.010%	$326K	$1.1M	20x	as long as short
Nado META-PERP	−0.0080%	1h	739.76	−0.057%	$453K	$462K	20x	as long as short
Aster METAUSDT	0.0000%	8h	739.91	−0.036%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.91	−0.036%	$550K	$2.7M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	740.18	long leg	$27.4M	$179.7M	20x
Bybit METAUSDT	0.0000%	8h	740.40	+0.030%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.18	+0.001%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.81	−0.049%	$349K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.13	−0.006%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.81	−0.050%	$2.4M	$3.3M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	740.32	+0.019%	$12K	$459K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.39	+0.029%	$897	$9.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.80	−0.051%	$30K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	739.90	−0.037%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.09	−0.012%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.27	+0.013%	$752K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.34	+0.022%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.10	−0.010%	$178K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.89	−0.039%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.05	−0.017%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.69	−0.066%	$666K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.95	−0.031%	$2.2M	$14.2M	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	739.97	−0.028%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	739.69	−0.066%	$110K	$331K	10x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	740.49	+0.043%	$48K	$80K	10x	as long as short
Hotstuff META-PERP	+0.0072%	1h	740.14	−0.005%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.17	−0.001%	$1.6M	$450K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.42	−0.102%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.06	−0.016%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.89	−0.039%	$266	—	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0144%	1h	739.80	−0.051%	$614K	$7.3M	10x
tradeXYZ xyz:META	+0.0162%	1h	740.08	−0.013%	$67.7M	$120.8M	20x	as long as short
Lighter META	+0.0200%	1h	740.24	+0.009%	$852K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.98	+0.244%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	740.42	+0.033%	$321K	$930K	20x	as long as short
edgeX METAUSDC	+0.0434%	4h	739.92	−0.035%	$62K	$334K	10x	as long as short