Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0168%/8hpaid last 24h +0.049%

Price spread now: Coinbase International against BloFin−0.080%58s7-day average −0.127% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.301% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 3 days (all we have)−0.008%−$1 · spread now −0.080%, 7d avg −0.127%

Together, before fees+0.095%+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.047% dearer against BloFin than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.127%. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin META-USDT	751.70	−0.0120	get 0.0120% / 8h	4h 21m	$337K	$1.1M	20x
Short	Coinbase International META-PERP-INTX	751.10	0.0048	get 0.0006% / 1h	21m 21s	$651K	$6.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.080%Rate

Funding earned: $35.28
Price spread: −0.080% → −0.127%: $4.74
Slippage, 4 orders: −$8.09
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $9.94
Costs to cover: 0.301%
Break-even: 5.0 days

Slippage from BloFin: live order book, 10 min ago; Coinbase International: live order book, 2 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 BloFin live order book, 10 min ago	0.20 bp	7.5 bp −$7	10.2 bp −$102	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	1.80 bp	7.3 bp −$7	10.7 bp −$107	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
Hotstuff META-PERP	−0.0128%	1h	749.81	−0.251%	$34K	$105	20x	as long as short
BloFin META-USDTlong	−0.0120%	8h	751.70	long leg	$337K	$1.1M	20x
Phoenix META	−0.0021%	1h	751.22	−0.064%	$319K	$622K	20x	as long as short
Aster METAUSDT	0.0000%	8h	750.05	−0.219%	$461K	$451K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	749.82	−0.250%	$561K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	750.19	−0.201%	$27.9M	$165.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	750.22	−0.197%	$8.1M	$12.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	750.49	−0.161%	$6.1M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	749.55	−0.286%	$336K	$5.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	749.81	−0.251%	$6.0M	$9.8M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	749.56	−0.285%	$1.6M	$2.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	751.51	−0.025%	$13K	$528K	10x	as long as short
SunX META-USDT	0.0000%	8h	751.30	−0.053%	$782	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	751.15	−0.073%	$107K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	751.69	−0.001%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0002%	1h	749.52	−0.290%	$402K	$227K	20x	as long as short
QFEX META-USD	+0.0012%	1h	749.99	−0.227%	$2.3M	$13.5M	10x	as long as short
Lighter META	+0.0032%	1h	750.10	−0.213%	$877K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	750.11	−0.212%	$741K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	750.75	−0.126%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	749.89	−0.241%	$175K	$194K	20x	as long as short
Coinbase International META-PERP-INTXshort	+0.0048%	1h	751.10	−0.080%	$651K	$6.9M	10x
tradeXYZ xyz:META	+0.0050%	1h	750.00	−0.226%	$72.1M	$111.4M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	750.02	−0.223%	$546K	$836K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	751.37	−0.044%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	749.47	−0.297%	$716K	$3.8M	10x	as long as short
Paradex META-USD-PERP	+0.0052%	8h	749.89	−0.240%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	749.58	−0.282%	$1.6M	$302K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	749.92	−0.237%	$168K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	750.24	−0.194%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	751.17	−0.070%	$270	—	10x	as long as short
Arcus META-USD	+0.0128%	1h	749.79	−0.254%	$266K	$311K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	752.38	+0.090%	$171K	$43K	30x	as long as short
Deribit META_USDC-PERPETUAL	+0.0269%	1h	751.27	−0.057%	$28K	$259K	10x	as long as short
edgeX METAUSDC	+0.0272%	4h	752.12	+0.056%	$63K	$329K	10x	as long as short
Aftermath Perps METAUSD	+0.0340%	1h	750.52	−0.157%	$42K	$49K	10x	as long as short