Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.008%

Price spread now: Coinbase International against Gate+0.089%7-day average −0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$530.534% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 3 days (all we have)0.000%$0 · spread now +0.089%, 7d avg −0.049%

Together, before fees−0.065%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.138% dearer against Gate than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.049%. Mind the row above: over the last 7 days funding on this pair cost −0.065%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	739.45	0	get 0.0000% / 8h	7h 50m	$357K	$5.6M	100x
Short	Coinbase International META-PERP-INTX	740.11	0.0144	get 0.0018% / 1h	50m 35s	$602K	$7.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.089%Rate

Funding earned: $30.24
Price spread: +0.089% → −0.049%: $13.82
Slippage, 4 orders: −$28.41
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$9.34
Costs to cover: 0.534%
Break-even: 9.2 days

Slippage from Gate: live order book, 3 min ago; Coinbase International: live order book, 3 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 Gate live order book, 3 min ago	5.61 bp	22.2 bp −$22	47.5 bp −$475	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	2.70 bp	7.7 bp −$8	12.2 bp −$122	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	740.01	+0.076%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.82	+0.185%	$461K	$546K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.70	+0.034%	$549K	$1.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.98	+0.072%	$27.4M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.04	+0.080%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.85	+0.054%	$6.0M	$13.2M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	739.45	long leg	$357K	$5.6M	100x
Bitget METAUSDT	0.0000%	8h	739.83	+0.051%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.73	+0.038%	$2.3M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.20	+0.101%	$12K	$486K	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	739.70	+0.034%	$952	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.55	+0.014%	$106K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.85	+0.189%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0026%	1h	739.64	+0.025%	$381K	$336K	20x	as long as short
Lighter RH META	+0.0032%	1h	739.99	+0.073%	$757K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.14	+0.093%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.14	+0.093%	$177K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.87	+0.057%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.76	+0.042%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.07	−0.051%	$735K	$4.3M	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.99	+0.073%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	739.69	+0.032%	$110K	$331K	10x	as long as short
Hotstuff META-PERP	+0.0064%	1h	739.69	+0.032%	$33K	$105	20x	as long as short
Paradex META-USD-PERP	+0.0070%	8h	739.62	+0.023%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	740.11	+0.089%	$49K	$77K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.03	+0.078%	$1.6M	$412K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.48	+0.004%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.83	+0.051%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.69	+0.033%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0114%	1h	739.83	+0.051%	$67.6M	$121.2M	20x	as long as short
Coinbase International META-PERP-INTXshort	+0.0144%	1h	740.11	+0.089%	$602K	$7.3M	10x
Injective META/USDC PERP	+0.0220%	1h	741.93	+0.335%	$169K	$46K	30x	as long as short
Lighter META	+0.0248%	1h	740.03	+0.078%	$856K	$2.4M	20x	as long as short
Phoenix META	+0.0259%	1h	740.13	+0.092%	$277K	$930K	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0345%	1h	739.78	+0.045%	$30K	$253K	10x	as long as short
edgeX METAUSDC	+0.0474%	4h	740.08	+0.085%	$62K	$333K	10x	as long as short