Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.012%

Price spread now: Coinbase International against SunX+0.036%7-day average −0.124% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$810.808% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 3 days (all we have)−0.132%−$13 · spread now +0.036%, 7d avg −0.124%

Together, before fees−0.195%−$20 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 Coinbase International is 0.161% dearer against SunX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.124%. Mind the row above: over the last 7 days funding on this pair cost −0.064%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	740.39	0	get 0.0000% / 8h	6h 23m	$876	$9.2M	20x
Short	Coinbase International META-PERP-INTX	740.66	0.0104	get 0.0013% / 1h	23m 13s	$609K	$7.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.036%Rate

Funding earned: $21.84
Price spread: +0.036% → −0.124%: $16.07
Slippage, 4 orders: −$62.77
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$42.86
Costs to cover: 0.808%
Break-even: 20.7 days

Slippage from SunX: live order book, 6 min ago; Coinbase International: live order book, 1 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 SunX live order book, 6 min ago	28.16 bp	32.2 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	2.70 bp	8.4 bp −$8	10.7 bp −$107	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0134%	1h	740.15	−0.033%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.53	+0.019%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.13	−0.035%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.35	−0.006%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.19	−0.027%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.28	−0.015%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.26	−0.018%	$353K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.45	+0.008%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.67	+0.038%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.40	+0.002%	$12K	$431K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDTlong	0.0000%	8h	740.39	long leg	$876	$9.2M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.93	−0.062%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.18	−0.028%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.83	+0.059%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.43	+0.005%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.54	+0.020%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.14	−0.034%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.55	+0.022%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.44	+0.007%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.20	−0.026%	$558K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.44	+0.007%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.99	−0.054%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	740.30	−0.012%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	741.29	+0.121%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.35	−0.005%	$1.6M	$483K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.87	−0.070%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.35	−0.005%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.16	−0.031%	$266	—	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0104%	1h	740.66	+0.036%	$609K	$7.2M	10x
Lighter META	+0.0120%	1h	740.48	+0.012%	$856K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.43	+0.005%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.42	+0.274%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0241%	1h	740.44	+0.007%	$68.3M	$120.0M	20x	as long as short
Phoenix META	+0.0313%	1h	741.24	+0.115%	$421K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0851%	4h	740.34	−0.006%	$62K	$334K	10x	as long as short