Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.122%

Price spread now: Extended against KuCoin+0.007%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1031.026% of the position

Long on KuCoin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$6 on $10k

Price spread, last 7 days−0.482%−$48 · spread now +0.007%, 7d avg +0.029%

Together, before fees−0.538%+ Points / potential airdropExtended: Active · farm board−$54 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Extended is 0.023% cheaper against KuCoin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	741.74	0.0100	pay 0.0100% / 8h	5h 53m	$1.6M	$504K	20x
Short	Extended META_24_5-USD	741.79	0	get 0.0000% / 1h	53m 17s	$548K	$2.7M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$21
Price spread: +0.007% → +0.029%: −$2.26
Slippage, 4 orders: −$85.55
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$125.81
Costs to cover: 1.026%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Extended: live order book, 5 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, 3 min ago	4.78 bp	39.0 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	0.14 bp	5.6 bp −$6	37.8 bp −$378	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0067%	1h	741.57	−0.023%	$479K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.79	+0.007%	$467K	$549K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	741.79	+0.007%	$548K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	741.97	+0.031%	$27.3M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.87	+0.018%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.83	+0.012%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.57	−0.023%	$356K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.94	+0.027%	$5.4M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	741.87	+0.018%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	742.09	+0.047%	$12K	$430K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	741.78	+0.005%	$780	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.53	−0.028%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.72	−0.003%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.11	+0.050%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.02	+0.038%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.74	0.000%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.34	−0.054%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.08	+0.046%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.95	+0.028%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.76	+0.003%	$559K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.87	+0.018%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.32	−0.057%	$703K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	741.64	−0.014%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	742.39	+0.087%	$49K	$81K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	+0.011%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	741.74	long leg	$1.6M	$504K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.40	−0.046%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.94	+0.027%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.77	+0.004%	$267	—	10x	as long as short
edgeX METAUSDC	+0.0192%	4h	741.75	+0.002%	$62K	$335K	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	741.91	+0.023%	$33K	$105	20x	as long as short
Lighter META	+0.0216%	1h	742.00	+0.035%	$861K	$2.4M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.66	−0.146%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0317%	1h	742.05	+0.042%	$68.7M	$119.7M	20x	as long as short
Phoenix META	+0.0496%	1h	742.71	+0.131%	$487K	$1.1M	20x	as long as short