Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h −0.015%

Price spread now: Ondo Perps against KuCoin−0.058%7-day average −0.018% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 7 days+0.381%+$38 · spread now −0.058%, 7d avg −0.018%

Together, before fees+0.290%+ Points / potential airdropOndo Perps: Active · farm board+$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Ondo Perps is 0.039% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	745.37	0.0100	pay 0.0100% / 8h	1h 40m	$1.6M	$673K	20x
Short	Ondo Perps META-USD.P	744.94	0.0050	get 0.0006% / 1h	40m 46s	$711K	$5.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$10.42
Price spread: −0.058% → −0.018%: −$3.92
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$31.34
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 5 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 5 min ago	5.30 bp	24.9 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	745.33	−0.005%	$334K	$1.1M	20x	as long as short
Nado META-PERP	−0.0023%	1h	745.00	−0.049%	$482K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.62	+0.034%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.12	−0.033%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.20	−0.023%	$25.3M	$187.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.06	−0.042%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.19	−0.024%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.66	−0.095%	$457K	$6.1M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.29	−0.011%	$5.5M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	745.20	−0.022%	$2.4M	$3.3M	—	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	745.43	+0.008%	$13K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.17	−0.027%	$563	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.90	−0.063%	$34K	$274K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.03	−0.046%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.31	−0.008%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.16	−0.028%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.55	+0.024%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.98	−0.052%	$109K	$333K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.62	+0.034%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.33	−0.005%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.87	−0.067%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.35	−0.003%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.Pshort	+0.0050%	1h	744.94	−0.058%	$711K	$5.2M	10x
Paradex META-USD-PERP	+0.0064%	8h	745.15	−0.030%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	746.39	+0.136%	$52K	$81K	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	745.37	long leg	$1.6M	$673K	20x
ApeX Omni METAUSDT	+0.0100%	1h	744.66	−0.095%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.38	+0.001%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.17	−0.027%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.43	+0.008%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.64	+0.439%	$173K	$46K	30x	as long as short
Lighter META	+0.0392%	1h	745.72	+0.047%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0408%	1h	745.69	+0.043%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0532%	1h	745.65	+0.038%	$77.0M	$127.2M	20x	as long as short
Phoenix META	+0.0739%	1h	746.48	+0.149%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0795%	4h	745.37	0.000%	$62K	$345K	10x	as long as short