Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.006%

Price spread now: Coinbase International against KuCoin−0.012%51s7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$213as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1861.859% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.012%, 7d avg −0.068%

Together, before fees−0.221%−$22 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: Coinbase International is 0.056% dearer against KuCoin than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.068%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	746.33	0.0100	pay 0.0100% / 8h	16m 20s	$1.6M	$722K	20x
Short	Coinbase International META-PERP-INTX	746.24	0.0104	get 0.0013% / 1h	16m 20s	$644K	$7.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.012%Rate

Funding earned: $0.84
Price spread: −0.012% → −0.068%: $5.57
Slippage, 4 orders: −$163.88
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$179.47
Costs to cover: 1.859%
Break-even: 1502.5 days

Slippage from KuCoin: live order book, 9 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 KuCoin live order book, 9 min ago	4.62 bp	120.0 bp −$120	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	1.94 bp	8.5 bp −$9	10.4 bp −$104	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	746.73	+0.054%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.10	−0.031%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.28	−0.007%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.49	+0.022%	$25.2M	$188.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.38	+0.007%	$7.5M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.70	+0.050%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.07	−0.035%	$474K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.59	+0.035%	$5.6M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	747.09	+0.102%	$2.5M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.50	+0.022%	$12K	$439K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	747.13	+0.107%	$1K	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.07	−0.035%	$34K	$276K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.63	+0.040%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.79	+0.062%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0012%	1h	746.21	−0.016%	$481K	$561K	20x	as long as short
QFEX META-USD	+0.0031%	1h	746.49	+0.021%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0032%	1h	746.71	+0.051%	$787K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.23	−0.013%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.12	+0.106%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.60	+0.036%	$178K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.24	−0.012%	$567K	$624K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.63	+0.040%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.12	−0.028%	$735K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	746.32	−0.002%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.25	+0.123%	$48K	$91K	10x	as long as short
edgeX METAUSDC	+0.0090%	4h	746.30	−0.003%	$62K	$345K	10x	as long as short
Pacifica META	+0.0100%	1h	746.67	+0.046%	$37	$368	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	746.33	long leg	$1.6M	$722K	20x
ApeX Omni METAUSDT	+0.0100%	1h	745.72	−0.082%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.36	+0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.30	−0.004%	$269	—	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0104%	1h	746.24	−0.012%	$644K	$7.9M	10x
Injective META/USDC PERP	+0.0220%	1h	753.38	+0.945%	$176K	$48K	30x	as long as short
Lighter META	+0.0432%	1h	746.85	+0.070%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0488%	1h	747.03	+0.094%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0567%	1h	747.14	+0.109%	$82.4M	$130.7M	20x	as long as short
Phoenix META	+0.0750%	1h	748.05	+0.230%	$799K	$1.5M	20x	as long as short