Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.003%

Price spread now: KuCoin against Popdex−0.047%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$900.902% of the position

Long on Popdex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.031%+$3 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.047%, 7d avg −0.038%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.038%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex METAUSDT	746.19	0.0048	pay 0.0006% / 1h	6m 49s	$179K	$200K	20x
Short	KuCoin METAUSDTM	745.84	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 Popdex. 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 PopdexbpFee KuCoinbpOrdersPrice spread, now −0.047%Rate

Funding earned: $10.92
Price spread: −0.047% → −0.038%: −$0.93
Slippage, 4 orders: −$71.79
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$80.2
Costs to cover: 0.902%
Break-even: 58.4 days

Slippage from Popdex: live order book, 42 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 Popdex live order book, 42 min ago	0.40 bp	3.6 bp −$4	6.3 bp −$63	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	−0.027%	$330K	$1.1M	20x	as long as short
Nado META-PERP	0.0000%	1h	745.68	−0.068%	$483K	$558K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.79	−0.054%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.82	−0.050%	$549K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.03	−0.021%	$27.7M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.12	−0.009%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.31	+0.016%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.54	−0.087%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.20	+0.001%	$5.5M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	745.86	−0.044%	$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	−0.023%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.67	−0.070%	$794	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.80	−0.052%	$31K	$263K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.05	−0.019%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.88	−0.042%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.48	+0.039%	$775K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.19	−0.134%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.44	+0.034%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.83	−0.048%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDTlong	+0.0048%	1h	746.19	long leg	$179K	$200K	20x
Polymarket Perps META-USD	+0.0050%	1h	745.80	−0.052%	$587K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.03	−0.021%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.59	−0.080%	$748K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0068%	8h	745.91	−0.037%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	746.07	−0.016%	$52K	$81K	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	745.84	−0.047%	$1.6M	$657K	20x
ApeX Omni METAUSDT	+0.0100%	1h	745.52	−0.090%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.06	−0.017%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.03	−0.021%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.40	−0.106%	$656K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.247%	$172K	$46K	30x	as long as short
Lighter META	+0.0304%	1h	746.55	+0.048%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	746.41	+0.029%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0452%	1h	746.56	+0.050%	$76.1M	$125.7M	20x	as long as short
Phoenix META	+0.0685%	1h	746.97	+0.105%	$798K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0903%	4h	745.78	−0.056%	$62K	$339K	10x	as long as short