Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.014%

Price spread now: Coinbase International against KuCoin−0.043%51s7-day average −0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$134as 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−$1071.067% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.274%−$27 on $10k

Price spread, last 4 days (all we have)+0.230%+$23 · spread now −0.043%, 7d avg −0.068%

Together, before fees−0.044%−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Coinbase International is 0.025% dearer against KuCoin than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.068%. The two prices were read 51 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	KuCoin METAUSDTM	744.08	0.0100	pay 0.0100% / 8h	4h 10m	$1.6M	$554K	20x
Short	Coinbase International META-PERP-INTX	743.76	0.0104	get 0.0013% / 1h	10m 29s	$615K	$7.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.043%Rate

Funding earned: $0.84
Price spread: −0.043% → −0.068%: $2.52
Slippage, 4 orders: −$84.72
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$103.36
Costs to cover: 1.067%
Break-even: 868.4 days

Slippage from KuCoin: live order book, 5 min ago; Coinbase International: live order book, 4 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 KuCoin live order book, 5 min ago	3.43 bp	34.0 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	1.88 bp	7.1 bp −$7	10.3 bp −$103	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	744.41	+0.044%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0006%	1h	743.63	−0.061%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.64	−0.059%	$469K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.12	+0.006%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.10	+0.003%	$28.4M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.12	+0.005%	$7.7M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.10	+0.003%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.47	−0.082%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.01	−0.009%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	744.35	+0.036%	$2.4M	$3.1M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.01	−0.010%	$13K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.36	+0.038%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	744.33	+0.034%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.24	+0.022%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.37	+0.039%	$778K	$3.1M	20x	as long as short
QFEX META-USD	+0.0036%	1h	744.18	+0.013%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.75	−0.044%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.00	−0.011%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.68	−0.054%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.27	+0.026%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.51	−0.077%	$823K	$4.6M	10x	as long as short
Popdex METAUSDT	+0.0056%	1h	744.33	+0.034%	$179K	$199K	20x	as long as short
Aftermath Perps METAUSD	+0.0081%	1h	744.62	+0.073%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0088%	8h	744.22	+0.018%	—	—	5x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	744.08	long leg	$1.6M	$554K	20x
ApeX Omni METAUSDT	+0.0100%	1h	743.11	−0.130%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.16	+0.011%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.22	+0.019%	$268	—	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0104%	1h	743.76	−0.043%	$615K	$7.3M	10x
Hotstuff META-PERP	+0.0176%	1h	743.96	−0.016%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.67	+0.348%	$172K	$48K	30x	as long as short
Lighter META	+0.0280%	1h	744.36	+0.038%	$866K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0291%	1h	744.03	−0.007%	$69.7M	$120.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0355%	1h	743.92	−0.022%	$31K	$246K	10x	as long as short
edgeX METAUSDC	+0.0485%	4h	743.87	−0.028%	$62K	$338K	10x	as long as short
Phoenix META	+0.0591%	1h	744.75	+0.090%	$709K	$1.2M	20x	as long as short