Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.122%

Price spread now: KuCoin against Extended+0.034%7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$98as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$1031.034% of the position

Long on Extended Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.055%+$6 on $10k

Price spread, last 7 days+0.442%+$44 · spread now +0.034%, 7d avg −0.029%

Together, before fees+0.497%+ Points / potential airdropExtended: Active · farm board+$50 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 KuCoin is 0.063% dearer against Extended than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended META_24_5-USD	741.69	0	get 0.0000% / 1h	50m 07s	$548K	$2.7M	17x
Short	KuCoin METAUSDTM	741.94	0.0100	get 0.0100% / 8h	5h 50m	$1.6M	$504K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Extended. 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 ExtendedbpFee KuCoinbpOrdersPrice spread, now +0.034%Rate

Funding earned: $21
Price spread: +0.034% → −0.029%: $6.31
Slippage, 4 orders: −$86.37
Fee Extended: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$76.06
Costs to cover: 1.034%
Break-even: 32.4 days

Slippage from Extended: 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 Extended live order book, 4 min ago	0.54 bp	5.6 bp −$6	22.2 bp −$222	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	4.78 bp	52.7 bp −$53	doesn't fit	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	−0.0059%	1h	741.61	−0.011%	$479K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.49	−0.027%	$466K	$549K	20x	as long as short
Extended META_24_5-USDlong	0.0000%	1h	741.69	long leg	$548K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	741.93	+0.032%	$27.3M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.86	+0.023%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.05	+0.049%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.71	+0.003%	$356K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.95	+0.035%	$5.4M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	741.74	+0.007%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	742.02	+0.044%	$13K	$432K	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-USDT	0.0000%	8h	741.89	+0.027%	$941	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.34	−0.047%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.67	−0.003%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.10	+0.055%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.09	+0.054%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.74	+0.007%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.40	−0.039%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.11	+0.057%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.95	+0.035%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.78	+0.012%	$559K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.94	+0.034%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.21	−0.065%	$705K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	741.75	+0.008%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0072%	1h	742.50	+0.110%	$49K	$81K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	+0.018%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	741.94	+0.034%	$1.6M	$504K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.18	−0.069%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.76	+0.009%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.60	−0.012%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.36	+0.360%	$172K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	742.07	+0.051%	$861K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0232%	1h	742.11	+0.057%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0340%	1h	742.09	+0.054%	$69.1M	$119.9M	20x	as long as short
Phoenix META	+0.0496%	1h	742.71	+0.138%	$491K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0529%	4h	741.87	+0.025%	$62K	$335K	10x	as long as short