Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h +0.011%

Price spread now: KuCoin against Coinbase International−0.016%7-day average +0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$990.988% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.273%+$27 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now −0.016%, 7d avg +0.068%

Together, before fees+0.167%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and KuCoin is 0.084% cheaper against Coinbase International than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.068%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.273%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	747.35	0.0128	pay 0.0016% / 1h	5m 02s	$667K	$7.6M	10x
Short	KuCoin METAUSDTM	747.23	0.0100	get 0.0100% / 8h	3h 05m	$1.6M	$625K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$5.88
Price spread: −0.016% → +0.068%: −$8.42
Slippage, 4 orders: −$76.82
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$113.12
Costs to cover: 0.988%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 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 Coinbase International live order book, 4 min ago	2.01 bp	7.0 bp −$7	9.9 bp −$99	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	4.14 bp	54.7 bp −$55	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	747.32	−0.004%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0003%	1h	747.33	−0.003%	$483K	$556K	20x	as long as short
Aster METAUSDT	0.0000%	8h	747.16	−0.026%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.85	−0.066%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.53	+0.023%	$28.5M	$182.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.32	−0.004%	$7.5M	$14.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.50	+0.020%	$6.0M	$13.0M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.81	−0.072%	$421K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	747.58	+0.031%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	748.03	+0.091%	$12K	$448K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	747.12	−0.031%	$965	$8.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.57	−0.104%	$31K	$252K	10x	as long as short
HTX META-USDT	0.0000%	8h	747.06	−0.039%	$106K	$304K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.93	+0.078%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	747.30	−0.007%	$770K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	747.32	−0.004%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.61	+0.035%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.80	−0.074%	$588K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	747.19	−0.021%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.55	−0.107%	$770K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	747.32	−0.004%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	747.53	+0.025%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	748.11	+0.101%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	747.28	−0.009%	$180K	$199K	20x	as long as short
Bitget METAUSDT	+0.0098%	8h	747.27	−0.011%	$5.5M	$11.9M	100x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	747.23	−0.016%	$1.6M	$625K	20x
ApeX Omni METAUSDT	+0.0100%	1h	747.07	−0.037%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.03	−0.043%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.94	−0.054%	$269	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0128%	1h	747.35	long leg	$667K	$7.6M	10x
Injective META/USDC PERP	+0.0220%	1h	747.19	−0.021%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	747.53	+0.024%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	747.29	−0.008%	$911K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0345%	1h	747.66	+0.041%	$72.0M	$121.8M	20x	as long as short
Phoenix META	+0.0633%	1h	749.25	+0.254%	$800K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0974%	4h	747.99	+0.086%	$62K	$338K	10x	as long as short