Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.015%

Price spread now: Gate against Coinbase International−0.031%7-day average +0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$510.506% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 4 days (all we have)−0.135%−$13 · spread now −0.031%, 7d avg +0.046%

Together, before fees−0.070%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Gate 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 +0.046%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.065%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	742.26	0.0104	pay 0.0013% / 1h	47m 30s	$614K	$7.2M	10x
Short	Gate META_USDT	742.03	0	get 0.0000% / 8h	4h 47m	$363K	$5.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.031%Rate

Funding earned: −$21.84
Price spread: −0.031% → +0.046%: −$7.67
Slippage, 4 orders: −$25.65
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$80.16
Costs to cover: 0.506%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Gate: 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	2.15 bp	7.9 bp −$8	11.1 bp −$111	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	5.25 bp	18.1 bp −$18	44.5 bp −$445	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	743.19	+0.125%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0048%	1h	742.01	−0.034%	$480K	$552K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.46	+0.027%	$466K	$551K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.26	0.000%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.54	+0.038%	$27.5M	$180.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.22	−0.005%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.28	+0.003%	$6.0M	$13.5M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	742.03	−0.031%	$363K	$5.7M	100x
Bitget METAUSDT	0.0000%	8h	742.48	+0.030%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.77	+0.068%	$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	743.01	+0.102%	$12K	$434K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.95	+0.093%	$747	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.97	−0.039%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.47	+0.028%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.91	+0.088%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.59	+0.044%	$765K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.33	+0.009%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.47	+0.028%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.77	+0.069%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.46	+0.027%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.53	+0.036%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.49	+0.031%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.81	−0.061%	$711K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0061%	8h	742.25	−0.002%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	743.37	+0.149%	$50K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.55	+0.039%	$1.6M	$534K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.19	−0.009%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.55	+0.039%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.37	+0.015%	$267	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0104%	1h	742.26	long leg	$614K	$7.2M	10x
Hotstuff META-PERP	+0.0112%	1h	742.46	+0.027%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0129%	4h	742.98	+0.097%	$62K	$337K	10x	as long as short
Lighter META	+0.0216%	1h	742.53	+0.036%	$857K	$2.4M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.79	+0.341%	$172K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0256%	1h	742.46	+0.027%	$69.4M	$120.3M	20x	as long as short
Phoenix META	+0.0591%	1h	743.92	+0.224%	$627K	$1.2M	20x	as long as short