Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0186%/8h= −20.3% APRpaid last 24h −0.031%

Price spread now: KuCoin against tradeXYZ+0.013%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$770.770% of the position

Long on tradeXYZ Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 7 days−0.043%−$4 · spread now +0.013%, 7d avg −0.023%

Together, before fees−0.046%+ Points / potential airdroptradeXYZ: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.036% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.013% now, against its 7-day average of −0.023%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.003% in total) that is about 2 months.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.003% in total (about -0.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:META	740.99	0.0286	pay 0.0036% / 1h	43m 05s	$86.0M	$135.5M	20x
Short	KuCoin METAUSDTM	741.09	0.0100	get 0.0100% / 8h	5h 43m	$1.6M	$884K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against tradeXYZ. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 tradeXYZbpFee KuCoinbpOrdersPrice spread, now +0.013%Rate

Funding earned: −$39.02
Price spread: +0.013% → −0.023%: $3.62
Slippage, 4 orders: −$46.98
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$112.38
Costs to cover: 0.770%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 10 min ago; KuCoin: live order book, 6 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 tradeXYZ live order book, 10 min ago	0.34 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	5.74 bp	34.4 bp −$34	doesn't fit	doesn't fit	doesn't fit

META on 37 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	739.22	−0.239%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	741.19	+0.027%	$338K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.00	+0.001%	$492K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.87	−0.016%	$545K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.13	+0.019%	$25.8M	$192.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.61	−0.051%	$7.5M	$16.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.04	+0.007%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.62	−0.050%	$457K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.00	+0.001%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.35	−0.087%	$2.5M	$3.0M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	741.05	+0.007%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.06	+0.009%	$1K	$7.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.55	−0.059%	$36K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.88	−0.015%	$107K	$299K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.74	+0.101%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.22	+0.031%	$870K	$2.8M	20x	as long as short
QFEX META-USD	+0.0038%	1h	740.86	−0.018%	$2.2M	$14.0M	10x	as long as short
Arcus META-USD	+0.0040%	1h	740.58	−0.055%	$111K	$284K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.29	+0.040%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.66	−0.045%	$558K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.91	−0.011%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.72	−0.171%	$713K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	740.86	−0.018%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.14	−0.115%	$648K	$7.6M	10x	as long as short
Aftermath Perps METAUSD	+0.0073%	1h	741.09	+0.014%	$53K	$86K	10x	as long as short
Popdex METAUSDT	+0.0080%	1h	741.09	+0.013%	$178K	$201K	20x	as long as short
Pacifica META	+0.0100%	1h	740.53	−0.063%	$604	$2K	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	741.09	+0.013%	$1.6M	$884K	20x
ApeX Omni METAUSDT	+0.0100%	1h	740.00	−0.134%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.96	−0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.78	−0.028%	$267	—	10x	as long as short
Nado META-PERP	+0.0108%	1h	740.69	−0.041%	$475K	$552K	20x	as long as short
edgeX METAUSDC	+0.0123%	4h	740.59	−0.054%	$62K	$350K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.75	+0.372%	$168K	$61K	30x	as long as short
tradeXYZ xyz:METAlong	+0.0286%	1h	740.99	long leg	$86.0M	$135.5M	20x
Lighter META	+0.0352%	1h	741.24	+0.034%	$1.2M	$2.7M	20x	as long as short
Phoenix META	+0.0613%	1h	741.71	+0.097%	$792K	$1.5M	20x	as long as short