Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.003%

Price spread now: SunX against Coinbase International+0.043%7-day average +0.129% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$810.807% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now +0.043%, 7d avg +0.129%

Together, before fees+0.090%+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SunX is 0.086% cheaper against Coinbase International than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.129%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.066%, 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	740.91	0.0064	pay 0.0008% / 1h	20m 15s	$606K	$7.4M	10x
Short	SunX META-USDT	741.23	0	get 0.0000% / 8h	1h 20m	$695	$9.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$13.44
Price spread: +0.043% → +0.129%: −$8.56
Slippage, 4 orders: −$62.73
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$102.74
Costs to cover: 0.807%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; SunX: live order book, 9 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, 4 min ago	2.36 bp	7.4 bp −$7	10.8 bp −$108	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	28.12 bp	32.1 bp −$32	61.7 bp −$617	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	741.25	+0.046%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0079%	1h	741.24	+0.045%	$395K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	+0.115%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.07	+0.021%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.20	+0.039%	$26.9M	$178.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.24	+0.045%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.09	+0.024%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.90	−0.001%	$343K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.21	+0.040%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	741.31	+0.054%	$1.6M	$2.6M	—	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	741.33	+0.057%	$12K	$504K	10x	as long as short
SunX META-USDTshort	0.0000%	8h	741.23	+0.043%	$695	$9.5M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.19	+0.038%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.07	+0.022%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.26	+0.047%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	741.18	+0.036%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.53	+0.084%	$749K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.96	+0.007%	$111K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.68	+0.104%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.26	+0.047%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.33	+0.057%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.21	+0.040%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	741.21	+0.040%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.12	+0.028%	$648K	$4.1M	10x	as long as short
Aftermath Perps METAUSD	+0.0054%	1h	741.95	+0.140%	$50K	$66K	10x	as long as short
Lighter META	+0.0064%	1h	741.50	+0.080%	$862K	$2.5M	20x	as long as short
Coinbase International META-PERP-INTXlong	+0.0064%	1h	740.91	long leg	$606K	$7.4M	10x
Phoenix META	+0.0065%	1h	741.24	+0.045%	$291K	$791K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.16	+0.034%	$1.6M	$365K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.97	+0.008%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.34	+0.058%	$1K	$24	10x	as long as short
tradeXYZ xyz:META	+0.0102%	1h	741.33	+0.057%	$68.6M	$120.9M	20x	as long as short
Aevo META-PERP	+0.0104%	1h	741.11	+0.027%	$267	—	10x	as long as short
Hotstuff META-PERP	+0.0144%	1h	741.33	+0.057%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.35	+0.329%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0878%	4h	741.29	+0.051%	$62K	$330K	10x	as long as short