Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0227%/8h= −24.9% APRpaid last 24h −0.014%

Price spread now: Deribit against KuCoin−0.023%53s7-day average −0.021% · you buy dearer than you sell

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

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

costs, in and out, $10k−$1121.121% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.115%−$12 on $10k

Price spread, last 4 days (all we have)+0.440%+$44 · spread now −0.023%, 7d avg −0.021%

Together, before fees+0.325%+$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate. The two prices were read 53 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	742.63	0.0100	pay 0.0100% / 8h	5h 04m	$1.6M	$528K	20x
Short	Deribit META_USDC-PERPETUAL	742.46	−0.0127	pay 0.0016% / 1h	4m 32s	$31K	$245K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$47.67
Price spread: −0.023% → −0.021%: −$0.19
Slippage, 4 orders: −$93.05
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$159.91
Costs to cover: 1.121%
Break-even: never at this rate

Slippage from KuCoin: live order book, 11 min ago; Deribit: live order book, 59 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, 11 min ago	5.12 bp	32.0 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 59 min ago	0.07 bp	3.6 bp −$4	5.1 bp −$51	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
Deribit META_USDC-PERPETUALshort	−0.0127%	1h	742.46	−0.023%	$31K	$245K	10x
BloFin META-USDT	−0.0120%	8h	743.01	+0.051%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0028%	1h	742.67	+0.005%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.60	−0.004%	$467K	$550K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.62	−0.002%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.79	+0.022%	$27.4M	$179.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.67	+0.005%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.92	+0.039%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.48	−0.020%	$362K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.90	+0.036%	$5.5M	$11.5M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	742.77	+0.019%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.81	−0.110%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.07	+0.059%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.56	−0.009%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.65	+0.003%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.97	+0.046%	$768K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	742.63	0.000%	$2.1M	$13.6M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.16	−0.063%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.08	+0.061%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.85	+0.030%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.48	−0.020%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.94	+0.042%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.25	−0.051%	$721K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	742.74	+0.015%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.87	+0.032%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.46	−0.023%	$613K	$7.2M	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	742.63	long leg	$1.6M	$528K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.06	−0.211%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.92	+0.039%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.77	+0.018%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.07	−0.075%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0240%	1h	742.90	+0.036%	$33K	$105	20x	as long as short
Lighter META	+0.0256%	1h	742.98	+0.047%	$862K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0330%	1h	742.71	+0.011%	$69.4M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	742.66	+0.004%	$591K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0769%	4h	742.22	−0.056%	$62K	$336K	10x	as long as short