Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.017%

Price spread now: QFEX against KuCoin+0.030%56s7-day average +0.035% · you sell dearer than you buy

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−$820.824% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.091%−$9 on $10k

Price spread, last 7 days−0.052%−$5 · spread now +0.030%, 7d avg +0.035%

Together, before fees−0.143%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 56 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	742.13	0.0100	pay 0.0100% / 8h	5h 28m	$1.6M	$518K	20x
Short	QFEX META-USD	742.35	0.0032	get 0.0004% / 1h	28m 40s	$2.1M	$13.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$14.23
Price spread: +0.030% → +0.035%: −$0.5
Slippage, 4 orders: −$60.42
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$97.15
Costs to cover: 0.824%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; QFEX: 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, 7 min ago	3.64 bp	22.5 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.89 bp	6.9 bp −$7	8.3 bp −$83	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	742.49	+0.049%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0031%	1h	742.16	+0.004%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.73	−0.053%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.84	−0.040%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.04	−0.012%	$27.4M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.92	−0.028%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.84	−0.039%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.73	−0.054%	$346K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.24	+0.015%	$5.5M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	742.15	+0.002%	$2.3M	$3.1M	—	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	742.24	+0.015%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.72	+0.080%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.31	+0.024%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.63	+0.067%	$2.0M	$8K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0006%	1h	742.09	−0.005%	$31K	$245K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.09	−0.005%	$764K	$3.0M	20x	as long as short
QFEX META-USDshort	+0.0032%	1h	742.35	+0.030%	$2.1M	$13.7M	10x
Arcus META-USD	+0.0040%	1h	741.63	−0.067%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.55	+0.057%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.60	+0.063%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.28	+0.020%	$559K	$539K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.13	0.000%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.44	−0.093%	$703K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0061%	8h	741.81	−0.043%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	742.45	+0.043%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.03	−0.013%	$624K	$7.2M	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	742.13	long leg	$1.6M	$518K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.72	−0.055%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.42	+0.039%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.34	+0.028%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.40	−0.098%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0248%	1h	742.60	+0.063%	$33K	$105	20x	as long as short
Lighter META	+0.0256%	1h	742.05	−0.011%	$861K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0340%	1h	742.25	+0.016%	$69.3M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	743.31	+0.159%	$540K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0680%	4h	741.29	−0.114%	$62K	$337K	10x	as long as short