Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h +0.008%

Price spread now: Binance against Coinbase International+0.004%7-day average +0.116% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$270.267% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.122%+$12 · spread now +0.004%, 7d avg +0.116%

Together, before fees+0.141%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.112% cheaper against Coinbase International than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.116%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	744.73	0.0104	pay 0.0013% / 1h	14m 59s	$650K	$7.9M	10x
Short	Binance METAUSDT	744.76	0	get 0.0000% / 8h	1h 14m	$24.9M	$188.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.004%Rate

Funding earned: −$21.84
Price spread: +0.004% → +0.116%: −$11.21
Slippage, 4 orders: −$6.72
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$59.77
Costs to cover: 0.267%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Binance: live order book, 13 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 Coinbase International live order book, 4 min ago	1.41 bp	6.8 bp −$7	10.7 bp −$107	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.07 bp	5.1 bp −$5	11.5 bp −$115	59.3 bp −$5,928	doesn't fit

META on 37 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	744.93	+0.027%	$332K	$1.1M	20x	as long as short
Nado META-PERP	−0.0040%	1h	744.71	−0.003%	$480K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.16	+0.058%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.63	−0.013%	$548K	$1.8M	17x	as long as short
Binance METAUSDTshort	0.0000%	8h	744.76	+0.004%	$24.9M	$188.2M	20x
Bybit METAUSDT	0.0000%	8h	744.70	−0.004%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.01	+0.038%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.36	−0.050%	$462K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.97	+0.032%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.70	−0.003%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.86	+0.017%	$13K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.70	−0.004%	$961	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.37	−0.048%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.90	+0.023%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.93	+0.027%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.57	−0.021%	$2.2M	$13.8M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.14	+0.055%	$855K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.68	−0.007%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.29	+0.075%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.90	+0.023%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.34	−0.052%	$578K	$572K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.83	+0.013%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.35	−0.051%	$685K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	744.70	−0.004%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.89	+0.156%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.78	+0.007%	$1.6M	$689K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.42	−0.042%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.76	+0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.59	−0.019%	$268	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0104%	1h	744.73	long leg	$650K	$7.9M	10x
edgeX METAUSDC	+0.0133%	4h	744.79	+0.008%	$62K	$345K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.34	+0.350%	$172K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	745.29	+0.075%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0376%	1h	745.54	+0.109%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0489%	1h	745.28	+0.074%	$78.1M	$127.8M	20x	as long as short
Phoenix META	+0.0739%	1h	746.42	+0.227%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	745.06	+0.044%	$16	$103	10x	as long as short