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 +0.016%

Price spread now: Coinbase International against HTX−0.016%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now −0.016%, 7d avg −0.086%

Together, before fees−0.094%−$9 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 Coinbase International is 0.070% dearer against HTX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.086%. Mind the row above: over the last 7 days funding on this pair cost −0.064%, 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	HTX META-USDT	742.14	0	get 0.0000% / 8h	4h 45m	$106K	$296K	30x
Short	Coinbase International META-PERP-INTX	742.02	0.0104	get 0.0013% / 1h	45m 13s	$614K	$7.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. 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 HTXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.016%Rate

Funding earned: $21.84
Price spread: −0.016% → −0.086%: $6.96
Slippage, 4 orders: −$12.43
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$5.63
Costs to cover: 0.344%
Break-even: 8.8 days

Slippage from HTX: live order book, 12 min ago; Coinbase International: live order book, 4 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 HTX live order book, 12 min ago	2.69 bp	10.0 bp −$10	19.1 bp −$191	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	2.15 bp	7.8 bp −$8	10.3 bp −$103	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	742.25	+0.015%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0049%	1h	741.61	−0.072%	$479K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.43	+0.039%	$466K	$551K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.16	+0.003%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.34	+0.027%	$27.5M	$180.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.08	−0.008%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.07	−0.009%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.72	−0.057%	$363K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.28	+0.019%	$5.3M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.05	−0.012%	$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	+0.118%	$12K	$434K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.32	+0.024%	$596	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.85	−0.039%	$31K	$245K	10x	as long as short
HTX META-USDTlong	0.0000%	8h	742.14	long leg	$106K	$296K	30x
Phemex METAUSDT	0.0000%	4h	742.83	+0.093%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.36	+0.030%	$767K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	741.94	−0.027%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.16	+0.003%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.21	+0.009%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.11	−0.004%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.96	−0.024%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.11	−0.004%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.30	−0.113%	$701K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0061%	8h	741.82	−0.043%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	742.94	+0.108%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.14	0.000%	$1.6M	$535K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.47	−0.090%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.29	+0.020%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.08	−0.008%	$267	—	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0104%	1h	742.02	−0.016%	$614K	$7.2M	10x
Hotstuff META-PERP	+0.0112%	1h	742.18	+0.005%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.35	−0.106%	$171K	$48K	30x	as long as short
Lighter META	+0.0224%	1h	742.38	+0.032%	$859K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0262%	1h	742.23	+0.012%	$69.4M	$120.3M	20x	as long as short
Phoenix META	+0.0591%	1h	743.92	+0.240%	$635K	$1.2M	20x	as long as short
edgeX METAUSDC	+0.0605%	4h	742.41	+0.037%	$62K	$338K	10x	as long as short