Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: KuCoin against Phemex+0.003%7-day average −0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$142as in the Funding arb table

Net, price: spread back to 7d avg − costs−$157as in the Price arb table

costs, in and out, $10k−$1631.632% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 4 days (all we have)−0.175%−$18 · spread now +0.003%, 7d avg −0.063%

Together, before fees+0.035%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.066% dearer against Phemex than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	745.88	0	get 0.0000% / 4h	2h 06m	$2.0M	$8K	10x
Short	KuCoin METAUSDTM	745.90	0.0100	get 0.0100% / 8h	2h 06m	$1.6M	$657K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Phemex. 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 PhemexbpFee KuCoinbpOrdersPrice spread, now +0.003%Rate

Funding earned: $21
Price spread: +0.003% → −0.063%: $6.6
Slippage, 4 orders: −$139.24
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$135.64
Costs to cover: 1.632%
Break-even: 52.2 days

Slippage from Phemex: live order book, 2 min ago; KuCoin: live order book, 4 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 Phemex live order book, 2 min ago	3.55 bp	37.9 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	5.90 bp	48.7 bp −$49	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	745.99	+0.015%	$330K	$1.1M	20x	as long as short
Nado META-PERP	0.0000%	1h	745.68	−0.026%	$483K	$558K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.85	−0.004%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.82	−0.008%	$549K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.19	+0.042%	$27.7M	$182.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.14	+0.035%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.31	+0.058%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.54	−0.046%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.23	+0.047%	$5.5M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	745.86	−0.003%	$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	746.02	+0.019%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.67	−0.028%	$794	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.80	−0.011%	$31K	$263K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.05	+0.023%	$106K	$306K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	745.88	long leg	$2.0M	$8K	10x
Lighter RH META	+0.0032%	1h	746.48	+0.080%	$776K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.37	−0.068%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.44	+0.075%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.83	−0.007%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.19	+0.042%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.80	−0.011%	$587K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.03	+0.020%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.57	−0.042%	$752K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	746.02	+0.018%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	746.07	+0.026%	$52K	$81K	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	745.90	+0.003%	$1.6M	$657K	20x
ApeX Omni METAUSDT	+0.0100%	1h	745.52	−0.048%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.06	+0.024%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.03	+0.020%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.40	−0.064%	$656K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.288%	$172K	$46K	30x	as long as short
Lighter META	+0.0304%	1h	746.51	+0.084%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	746.41	+0.071%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0452%	1h	746.61	+0.098%	$76.1M	$125.7M	20x	as long as short
Phoenix META	+0.0685%	1h	746.97	+0.146%	$798K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0903%	4h	745.78	−0.014%	$62K	$339K	10x	as long as short