Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0192%/8h= +21.1% APRpaid last 24h +0.024%

Price spread now: tradeXYZ against KuCoin−0.017%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1121.119% of the position

Long on KuCoin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 7 days−0.017%−$2 · spread now −0.017%, 7d avg +0.021%

Together, before fees−0.043%+ Points / potential airdroptradeXYZ: Active · farm board−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.038% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.017% now, against its 7-day average of +0.021%). If the spread goes back, that is −$4 on $10k: about 16 hours of funding at the current rate (+$6 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.026% in total (about -1.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	744.01	0.0100	pay 0.0100% / 8h	4h 09m	$1.6M	$555K	20x
Short	tradeXYZ xyz:META	743.88	0.0292	get 0.0037% / 1h	9m 25s	$69.6M	$120.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.017%Rate

Funding earned: $40.4
Price spread: −0.017% → +0.021%: −$3.8
Slippage, 4 orders: −$81.85
Fee KuCoin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$75.26
Costs to cover: 1.119%
Break-even: 20.0 days

Slippage from KuCoin: live order book, 6 min ago; tradeXYZ: live order book, 9 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, 6 min ago	3.43 bp	34.0 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 9 min ago	0.07 bp	10.1 bp −$10	doesn't fit	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	744.41	+0.054%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0004%	1h	743.32	−0.093%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.25	−0.102%	$468K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.74	−0.037%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.94	−0.009%	$28.4M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.10	+0.012%	$7.7M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.97	−0.005%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.39	−0.083%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.96	−0.007%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	744.35	+0.045%	$2.4M	$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	744.40	+0.052%	$12K	$445K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.86	−0.020%	$795	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.96	−0.007%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.99	−0.003%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.05	+0.005%	$778K	$3.1M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.88	−0.017%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.71	−0.040%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.88	−0.017%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.62	−0.052%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.93	−0.011%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.19	−0.110%	$823K	$4.6M	10x	as long as short
Popdex METAUSDT	+0.0064%	1h	744.02	+0.001%	$179K	$199K	20x	as long as short
Aftermath Perps METAUSD	+0.0081%	1h	744.63	+0.083%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0091%	8h	743.78	−0.030%	—	—	5x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	744.01	long leg	$1.6M	$555K	20x
ApeX Omni METAUSDT	+0.0100%	1h	743.28	−0.098%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.97	−0.005%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.82	−0.025%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	−0.034%	$615K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0184%	1h	743.93	−0.011%	$33K	$105	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0208%	1h	743.45	−0.075%	$31K	$246K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.14	+0.286%	$172K	$48K	30x	as long as short
Lighter META	+0.0280%	1h	744.04	+0.004%	$866K	$2.5M	20x	as long as short
tradeXYZ xyz:METAshort	+0.0292%	1h	743.88	−0.017%	$69.6M	$120.7M	20x
Phoenix META	+0.0591%	1h	744.96	+0.128%	$715K	$1.2M	20x	as long as short
edgeX METAUSDC	+0.0902%	4h	744.26	+0.034%	$62K	$336K	10x	as long as short