Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h +0.006%

Price spread now: Binance against Coinbase International+0.038%7-day average +0.116% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.080%+$8 · spread now +0.038%, 7d avg +0.116%

Together, before fees+0.099%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Binance is 0.077% cheaper against Coinbase International than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.116%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	745.15	0.0120	pay 0.0015% / 1h	56m 54s	$644K	$7.9M	10x
Short	Binance METAUSDT	745.44	0	get 0.0000% / 8h	7h 56m	$25.4M	$190.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.038%Rate

Funding earned: −$25.2
Price spread: +0.038% → +0.116%: −$7.73
Slippage, 4 orders: −$12.21
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$65.14
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Binance: 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 Coinbase International live order book, 2 min ago	4.83 bp	9.8 bp −$10	14.4 bp −$144	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	0.27 bp	6.5 bp −$7	8.3 bp −$83	37.9 bp −$3,787	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	745.36	+0.028%	$335K	$1.1M	20x	as long as short
Nado META-PERP	0.0000%	1h	745.11	−0.005%	$481K	$560K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.95	+0.107%	$480K	$597K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.25	+0.014%	$547K	$3.4M	17x	as long as short
Binance METAUSDTshort	0.0000%	8h	745.44	+0.038%	$25.4M	$190.0M	20x
Bybit METAUSDT	0.0000%	8h	745.25	+0.013%	$7.5M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.51	+0.048%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.24	+0.012%	$476K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.17	+0.003%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	747.50	+0.316%	$2.5M	$3.2M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	745.59	+0.059%	$12K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.38	+0.031%	$571	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.95	−0.027%	$53K	$293K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.15	0.000%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.62	+0.063%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0036%	1h	745.51	+0.048%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.16	+0.001%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.81	+0.089%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.48	+0.044%	$177K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.92	−0.031%	$566K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.36	+0.028%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.30	+0.020%	$729K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	745.26	+0.015%	—	—	5x	as long as short
Lighter RH META	+0.0080%	1h	745.63	+0.064%	$795K	$2.9M	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	745.99	+0.113%	$49K	$91K	10x	as long as short
edgeX METAUSDC	+0.0098%	4h	746.55	+0.188%	$62K	$346K	10x	as long as short
Pacifica META	+0.0100%	1h	745.54	+0.053%	$632	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.63	+0.064%	$1.6M	$737K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.02	−0.017%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.61	+0.062%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.40	+0.034%	$268	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0120%	1h	745.15	long leg	$644K	$7.9M	10x
Injective META/USDC PERP	+0.0220%	1h	746.51	+0.183%	$176K	$52K	30x	as long as short
Lighter META	+0.0320%	1h	745.79	+0.086%	$1.1M	$2.8M	20x	as long as short
tradeXYZ xyz:META	+0.0466%	1h	745.41	+0.035%	$84.6M	$132.8M	20x	as long as short
Hotstuff META-PERP	+0.0552%	1h	745.43	+0.038%	$33K	$105	20x	as long as short
Phoenix META	+0.0750%	1h	748.38	+0.433%	$799K	$1.5M	20x	as long as short