Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: KuCoin against Deribit+0.116%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$970.967% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.129%+$13 on $10k

Price spread, last 4 days (all we have)−0.533%−$53 · spread now +0.116%, 7d avg +0.025%

Together, before fees−0.405%−$40 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.091% dearer against Deribit than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit META_USDC-PERPETUAL	742.02	0	get 0.0000% / 1h	27m 54s	$43K	$269K	10x
Short	KuCoin METAUSDTM	742.88	0.0100	get 0.0100% / 8h	7h 27m	$1.6M	$771K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now +0.116%Rate

Funding earned: $21
Price spread: +0.116% → +0.025%: $9.13
Slippage, 4 orders: −$77.66
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$66.53
Costs to cover: 0.967%
Break-even: 29.2 days

Slippage from Deribit: live order book, 6 min ago; KuCoin: live order book, 8 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 Deribit live order book, 6 min ago	3.83 bp	7.4 bp −$7	8.1 bp −$81	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	6.32 bp	37.6 bp −$38	doesn't fit	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	743.65	+0.220%	$336K	$1.1M	20x	as long as short
Nado META-PERP	−0.0009%	1h	742.89	+0.117%	$478K	$560K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.00	+0.132%	$487K	$603K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.38	+0.048%	$544K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.50	+0.065%	$25.9M	$191.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.44	+0.057%	$7.4M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.52	+0.067%	$6.1M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.05	+0.004%	$483K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.39	+0.050%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	743.94	+0.259%	$2.5M	$3.0M	—	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	744.00	+0.267%	$12K	$437K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.59	+0.077%	$861	$7.7M	20x	as long as short
Deribit META_USDC-PERPETUALlong	0.0000%	1h	742.02	long leg	$43K	$269K	10x
HTX META-USDT	0.0000%	8h	742.69	+0.090%	$107K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.58	+0.210%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.59	+0.077%	$792K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.30	+0.038%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.23	+0.028%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.18	+0.156%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.31	+0.039%	$179K	$204K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.08	+0.008%	$564K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.45	+0.058%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.35	+0.044%	$742K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	743.16	+0.154%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	743.18	+0.156%	$51K	$93K	10x	as long as short
Pacifica META	+0.0100%	1h	742.99	+0.130%	$606	$2K	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	742.88	+0.116%	$1.6M	$771K	20x
ApeX Omni METAUSDT	+0.0100%	1h	743.23	+0.163%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.09	+0.144%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.90	+0.119%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	742.49	+0.063%	$640K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.70	+0.496%	$176K	$52K	30x	as long as short
Lighter META	+0.0280%	1h	742.73	+0.096%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0296%	1h	742.58	+0.075%	$84.5M	$133.3M	20x	as long as short
Hotstuff META-PERP	+0.0296%	1h	743.69	+0.225%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0672%	4h	743.87	+0.250%	$63K	$348K	10x	as long as short
Phoenix META	+0.0791%	1h	745.06	+0.410%	$795K	$1.5M	20x	as long as short