Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.010%

Price spread now: Polymarket Perps against KuCoin−0.015%49s7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$96as 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−$880.880% of the position

Long on KuCoin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 7 days−0.087%−$9 · spread now −0.015%, 7d avg −0.008%

Together, before fees−0.163%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 49 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	741.54	0.0100	pay 0.0100% / 8h	19m 37s	$1.6M	$394K	20x
Short	Polymarket Perps META-USD	741.43	0.0050	get 0.0006% / 1h	19m 37s	$550K	$849K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$10.5
Price spread: −0.015% → −0.008%: −$0.73
Slippage, 4 orders: −$68.04
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$99.26
Costs to cover: 0.880%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; Polymarket Perps: live order book, 58 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	3.44 bp	36.3 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 58 min ago	2.23 bp	6.7 bp −$7	8.2 bp −$82	9.6 bp −$964	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	741.47	−0.009%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0014%	1h	740.89	−0.088%	$389K	$330K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.87	+0.044%	$457K	$540K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.42	−0.016%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.56	+0.003%	$27.3M	$179.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.33	−0.028%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.50	−0.005%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.99	−0.074%	$345K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.54	0.000%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.39	−0.020%	$2.3M	$3.2M	—	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	741.64	+0.013%	$13K	$481K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.28	−0.035%	$872	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.29	−0.034%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.63	+0.012%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	741.36	−0.024%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.67	+0.018%	$756K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.12	−0.057%	$110K	$454K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.45	−0.012%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.46	−0.011%	$178K	$209K	20x	as long as short
Polymarket Perps META-USDshort	+0.0050%	1h	741.43	−0.015%	$550K	$849K	10x
SoDEX META-USD	+0.0050%	1h	741.45	−0.012%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.81	−0.098%	$759K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0052%	8h	741.23	−0.042%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	742.05	+0.069%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.37	−0.023%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	741.54	long leg	$1.6M	$394K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.27	−0.036%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.40	−0.019%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.39	−0.021%	$267	—	10x	as long as short
Phoenix META	+0.0129%	1h	741.50	−0.005%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0160%	1h	741.37	−0.023%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.72	+0.294%	$169K	$46K	30x	as long as short
Lighter META	+0.0232%	1h	741.69	+0.020%	$856K	$2.6M	20x	as long as short
tradeXYZ xyz:META	+0.0260%	1h	741.49	−0.007%	$67.7M	$122.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0425%	1h	741.32	−0.030%	$30K	$258K	10x	as long as short
edgeX METAUSDC	+0.0716%	4h	741.42	−0.016%	$62K	$332K	10x	as long as short