Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.018%

Price spread now: KuCoin against Coinbase International−0.028%7-day average +0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1321.316% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.274%+$27 on $10k

Price spread, last 3 days (all we have)−0.012%−$1 · spread now −0.028%, 7d avg +0.069%

Together, before fees+0.262%+$26 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.097% cheaper against Coinbase International than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.069%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	742.11	0.0096	pay 0.0012% / 1h	54m 15s	$611K	$7.1M	10x
Short	KuCoin METAUSDTM	741.90	0.0100	get 0.0100% / 8h	5h 54m	$1.6M	$503K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.028%Rate

Funding earned: $0.84
Price spread: −0.028% → +0.069%: −$9.71
Slippage, 4 orders: −$109.59
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$140.47
Costs to cover: 1.316%
Break-even: 1177.6 days

Slippage from Coinbase International: live order book, 5 min ago; KuCoin: live order book, 7 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, 5 min ago	2.84 bp	9.2 bp −$9	11.3 bp −$113	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	4.66 bp	49.7 bp −$50	doesn't fit	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0071%	1h	742.32	+0.028%	$480K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.96	−0.020%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.94	−0.022%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.16	+0.006%	$27.4M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.10	−0.001%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.29	+0.024%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.84	−0.036%	$356K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.22	+0.015%	$5.4M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	741.87	−0.032%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	742.09	−0.003%	$12K	$430K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	741.96	−0.020%	$976	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.77	−0.046%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.82	−0.039%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.16	+0.007%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.31	+0.027%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	742.13	+0.003%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.21	−0.121%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.33	+0.030%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.19	+0.011%	$178K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.06	−0.007%	$559K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.14	+0.004%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.44	−0.090%	$703K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	741.64	−0.064%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	742.21	+0.013%	$49K	$81K	10x	as long as short
edgeX METAUSDC	+0.0083%	4h	741.83	−0.038%	$62K	$334K	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0096%	1h	742.11	long leg	$611K	$7.1M	10x
KuCoin METAUSDTMshort	+0.0100%	8h	741.90	−0.028%	$1.6M	$503K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.40	−0.096%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.08	−0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.95	−0.022%	$267	—	10x	as long as short
Lighter META	+0.0208%	1h	742.28	+0.023%	$861K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0216%	1h	741.91	−0.027%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.66	−0.195%	$171K	$48K	30x	as long as short
Phoenix META	+0.0313%	1h	741.60	−0.069%	$482K	$1.1M	20x	as long as short
tradeXYZ xyz:META	+0.0313%	1h	742.11	0.000%	$68.7M	$119.7M	20x	as long as short