Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0517%/8h= +56.6% APRpaid last 24h +0.081%

Price spread now: edgeX against Coinbase International+0.009%7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs+$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.658%+$66 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now +0.009%, 7d avg +0.095%

Together, before fees+0.660%+ Points / potential airdropedgeX: Active · farm board+$66 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.087% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.009% now, against its 7-day average of +0.095%). If the spread goes back, that is −$9 on $10k: about 13 hours of funding at the current rate (+$16 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	745.36	0.0104	pay 0.0013% / 1h	38m 22s	$644K	$7.9M	10x
Short	edgeX METAUSDC	745.42	0.0621	get 0.0311% / 4h	38m 22s	$62K	$343K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.009%Rate

Funding earned: $108.58
Price spread: +0.009% → +0.095%: −$8.65
Slippage, 4 orders: −$15.41
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $65.52
Costs to cover: 0.344%
Break-even: 2.8 days

Slippage from Coinbase International: live order book, 6 min ago; edgeX: live order book, 65 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, 6 min ago	2.02 bp	7.4 bp −$7	10.8 bp −$108	doesn't fit	doesn't fit
Sell edgeX live order book, 65 min ago	5.17 bp	9.8 bp −$10	11.3 bp −$113	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	745.56	+0.027%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.01	−0.046%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.27	−0.012%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.44	+0.011%	$25.1M	$188.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.40	+0.005%	$7.5M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.49	+0.017%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.90	−0.062%	$466K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.37	+0.001%	$5.5M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	745.36	0.000%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.53	+0.023%	$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	745.44	+0.011%	$811	$8.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.97	−0.052%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.31	−0.007%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.38	+0.003%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0029%	1h	744.77	−0.080%	$480K	$560K	20x	as long as short
QFEX META-USD	+0.0031%	1h	745.32	−0.005%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.55	+0.025%	$789K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.00	−0.048%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.63	+0.036%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.41	+0.007%	$177K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.04	−0.043%	$565K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.46	+0.013%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.22	−0.019%	$729K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	745.05	−0.042%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	746.06	+0.095%	$48K	$89K	10x	as long as short
Pacifica META	+0.0100%	1h	744.78	−0.078%	$25	$189	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.16	−0.027%	$1.6M	$715K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.72	−0.086%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.50	+0.019%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.29	−0.009%	$268	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0104%	1h	745.36	long leg	$644K	$7.9M	10x
Injective META/USDC PERP	+0.0220%	1h	746.51	+0.154%	$172K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0424%	1h	745.67	+0.042%	$33K	$105	20x	as long as short
Lighter META	+0.0456%	1h	745.66	+0.040%	$1.1M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0549%	1h	745.87	+0.068%	$81.2M	$129.7M	20x	as long as short
edgeX METAUSDCshort	+0.0621%	4h	745.42	+0.009%	$62K	$343K	10x
Phoenix META	+0.0750%	1h	746.26	+0.121%	$797K	$1.5M	20x	as long as short