Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0216%/8h= +23.7% APRpaid last 24h +0.019%

Price spread now: Coinbase International against BloFin−0.023%7-day average −0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 4 days (all we have)−0.161%−$16 · spread now −0.023%, 7d avg −0.119%

Together, before fees−0.041%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.096% dearer against BloFin than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.119%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.120% in total (about 6.3% 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	BloFin META-USDT	741.66	−0.0120	get 0.0120% / 8h	5h 12m	$330K	$1.1M	20x
Short	Coinbase International META-PERP-INTX	741.49	0.0096	get 0.0012% / 1h	12m 46s	$611K	$7.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.023%Rate

Funding earned: $45.36
Price spread: −0.023% → −0.119%: $9.65
Slippage, 4 orders: −$6.82
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $26.19
Costs to cover: 0.288%
Break-even: 3.0 days

Slippage from BloFin: live order book, 4 min ago; Coinbase International: live order book, 1 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 BloFin live order book, 4 min ago	0.07 bp	6.3 bp −$6	10.7 bp −$107	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	0.07 bp	5.7 bp −$6	9.2 bp −$92	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-USDTlong	−0.0120%	8h	741.66	long leg	$330K	$1.1M	20x
Nado META-PERP	−0.0017%	1h	741.09	−0.077%	$479K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.87	+0.028%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.50	−0.022%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.76	+0.013%	$27.4M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.62	−0.005%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.77	+0.015%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.29	−0.050%	$360K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.65	−0.001%	$5.5M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	741.71	+0.007%	$2.4M	$3.1M	—	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	741.87	+0.028%	$13K	$434K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.69	+0.004%	$911	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.11	−0.074%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.49	−0.023%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.85	+0.026%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.77	+0.015%	$764K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.41	−0.034%	$2.1M	$13.6M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.30	−0.049%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.75	+0.012%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.65	−0.001%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.34	−0.043%	$558K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.61	−0.007%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.94	−0.097%	$720K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	741.39	−0.036%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	742.41	+0.102%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0096%	1h	741.49	−0.023%	$611K	$7.2M	10x
KuCoin METAUSDTM	+0.0100%	8h	741.79	+0.018%	$1.6M	$524K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.09	−0.077%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.56	−0.013%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.47	−0.026%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.98	+0.313%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	741.65	−0.001%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0262%	4h	741.69	+0.004%	$62K	$337K	10x	as long as short
Lighter META	+0.0272%	1h	741.75	+0.012%	$861K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0346%	1h	741.84	+0.024%	$69.3M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	742.43	+0.104%	$573K	$1.1M	20x	as long as short