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 +0.002%

Price spread now: Coinbase International against Gate+0.016%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$490.487% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 3 days (all we have)+0.107%+$11 · spread now +0.016%, 7d avg −0.050%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Coinbase International is 0.067% dearer against Gate than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.050%. Mind the row above: over the last 7 days funding on this pair cost −0.067%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	740.23	0	get 0.0000% / 8h	1h 35m	$330K	$5.4M	100x
Short	Coinbase International META-PERP-INTX	740.35	0.0064	get 0.0008% / 1h	35m 58s	$607K	$7.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.016%Rate

Funding earned: $13.44
Price spread: +0.016% → −0.050%: $6.65
Slippage, 4 orders: −$23.71
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$28.62
Costs to cover: 0.487%
Break-even: 21.9 days

Slippage from Gate: live order book, 2 min ago; Coinbase International: live order book, 3 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 Gate live order book, 2 min ago	7.50 bp	16.2 bp −$16	31.2 bp −$312	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.07 bp	7.1 bp −$7	11.8 bp −$118	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	740.63	+0.054%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0060%	1h	740.51	+0.038%	$395K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.17	+0.127%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.45	+0.030%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.52	+0.040%	$26.9M	$177.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.58	+0.047%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.65	+0.057%	$6.0M	$13.1M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	740.23	long leg	$330K	$5.4M	100x
Bitget METAUSDT	0.0000%	8h	740.56	+0.045%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.36	+0.018%	$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	740.44	+0.028%	$12K	$509K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.86	+0.085%	$856	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.51	+0.038%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.22	−0.001%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.52	+0.039%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.41	+0.024%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.93	+0.095%	$744K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.35	+0.016%	$260K	$316K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.08	+0.115%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.50	+0.036%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.61	+0.051%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.55	+0.043%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.41	+0.024%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.24	+0.001%	$666K	$4.1M	10x	as long as short
Aftermath Perps METAUSD	+0.0055%	1h	740.87	+0.086%	$49K	$63K	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0064%	1h	740.35	+0.016%	$607K	$7.3M	10x
Phoenix META	+0.0065%	1h	740.33	+0.014%	$291K	$791K	20x	as long as short
Hotstuff META-PERP	+0.0072%	1h	740.75	+0.070%	$33K	$105	20x	as long as short
Lighter META	+0.0088%	1h	740.89	+0.089%	$859K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.57	+0.046%	$1.6M	$360K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.89	−0.046%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.64	+0.055%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.42	+0.026%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0123%	1h	740.71	+0.065%	$68.4M	$120.6M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.94	−0.039%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0892%	4h	740.33	+0.013%	$62K	$330K	10x	as long as short