Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0177%/8h= −19.4% APRpaid last 24h −0.010%

Price spread now: Nado against KuCoin−0.005%7-day average +0.004% · 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−$60as in the Price arb table

costs, in and out, $10k−$590.590% of the position

Long on KuCoin Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.158%−$16 on $10k

Price spread, last 3 days (all we have)−0.128%−$13 · spread now −0.005%, 7d avg +0.004%

Together, before fees−0.286%+ Points / potential airdropNado: Active · farm board−$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	740.40	0.0100	pay 0.0100% / 8h	1h 45m	$1.6M	$359K	20x
Short	Nado META-PERP	740.37	−0.0077	pay 0.0010% / 1h	45m 15s	$396K	$317K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.005%Rate

Funding earned: −$37.13
Price spread: −0.005% → +0.004%: −$0.88
Slippage, 4 orders: −$40.04
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$97.05
Costs to cover: 0.590%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; Nado: live order book, 37 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, 1 min ago	4.73 bp	11.7 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 37 min ago	0.47 bp	13.6 bp −$14	28.0 bp −$280	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	740.53	+0.018%	$328K	$1.1M	20x	as long as short
Nado META-PERPshort	−0.0077%	1h	740.37	−0.005%	$396K	$317K	20x
Aster METAUSDT	0.0000%	8h	741.25	+0.115%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.38	−0.002%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.53	+0.018%	$26.9M	$177.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.38	−0.003%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.35	−0.007%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.88	−0.070%	$321K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.46	+0.008%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.45	+0.007%	$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	740.53	+0.018%	$12K	$516K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.75	+0.047%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.39	−0.001%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.35	−0.007%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.52	+0.016%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.37	−0.004%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.82	+0.057%	$744K	$3.2M	20x	as long as short
Hotstuff META-PERP	+0.0032%	1h	740.63	+0.031%	$33K	$105	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.15	−0.034%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.89	+0.066%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.51	+0.015%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.57	+0.023%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.48	+0.011%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.30	−0.014%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.02	−0.051%	$666K	$4.0M	10x	as long as short
Aftermath Perps METAUSD	+0.0055%	1h	741.36	+0.129%	$48K	$62K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.90	+0.068%	$608K	$7.3M	10x	as long as short
Phoenix META	+0.0065%	1h	740.46	+0.008%	$291K	$791K	20x	as long as short
Lighter META	+0.0088%	1h	740.81	+0.055%	$859K	$2.5M	20x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	740.40	long leg	$1.6M	$359K	20x
ApeX Omni METAUSDT	+0.0100%	1h	740.23	−0.023%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.55	+0.020%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.42	+0.003%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0126%	1h	740.64	+0.032%	$68.5M	$120.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.38	−0.003%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0344%	4h	740.53	+0.017%	$62K	$331K	10x	as long as short