Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0371%/8h= +40.6% APRpaid last 24h +0.076%

Price spread now: edgeX against KuCoin−0.032%83s7-day average +0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as 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−$1001.003% of the position

Long on KuCoin Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.384%+$38 on $10k

Price spread, last 4 days (all we have)−0.076%−$8 · spread now −0.032%, 7d avg +0.026%

Together, before fees+0.309%+ Points / potential airdropedgeX: Active · farm board+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.058% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.026%). If the spread goes back, that is −$6 on $10k: about 12 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.384% in total) that is about 25 hours. The two prices were read 83 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	746.86	0.0100	pay 0.0100% / 8h	3m 55s	$1.6M	$730K	20x
Short	edgeX METAUSDC	746.62	0.0471	get 0.0235% / 4h	3m 55s	$62K	$345K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.032%Rate

Funding earned: $77.81
Price spread: −0.032% → +0.026%: −$5.77
Slippage, 4 orders: −$79.29
Fee KuCoin: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$28.25
Costs to cover: 1.003%
Break-even: 9.5 days

Slippage from KuCoin: live order book, 2 min ago; edgeX: live order book, 34 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, 2 min ago	5.36 bp	25.0 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 34 min ago	5.50 bp	10.1 bp −$10	11.6 bp −$116	doesn't fit	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	746.67	−0.025%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.58	−0.038%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.86	0.000%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.04	+0.024%	$25.4M	$189.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.98	+0.016%	$7.6M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.19	+0.044%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.40	−0.062%	$473K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	747.02	+0.021%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	746.51	−0.046%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.79	−0.009%	$12K	$439K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	747.00	+0.019%	$929	$8.0M	20x	as long as short
HTX META-USDT	0.0000%	8h	746.93	+0.009%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.33	+0.063%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0015%	1h	746.22	−0.085%	$481K	$560K	20x	as long as short
QFEX META-USD	+0.0031%	1h	746.77	−0.012%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0040%	1h	747.02	+0.021%	$797K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.51	−0.047%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.26	+0.054%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.66	−0.027%	$568K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.74	−0.016%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.57	−0.039%	$734K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	746.49	−0.050%	—	—	5x	as long as short
Deribit META_USDC-PERPETUAL	+0.0072%	1h	746.52	−0.046%	$34K	$276K	10x	as long as short
Popdex METAUSDT	+0.0072%	1h	747.04	+0.024%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.73	+0.117%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	747.06	+0.027%	$634	$1K	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	746.86	long leg	$1.6M	$730K	20x
ApeX Omni METAUSDT	+0.0100%	1h	746.01	−0.114%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.77	−0.012%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.56	−0.041%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.42	−0.059%	$643K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.54	+0.359%	$177K	$51K	30x	as long as short
Lighter META	+0.0456%	1h	747.17	+0.042%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	747.20	+0.046%	$33K	$105	20x	as long as short
edgeX METAUSDCshort	+0.0471%	4h	746.62	−0.032%	$62K	$345K	10x
tradeXYZ xyz:META	+0.0564%	1h	747.34	+0.064%	$83.7M	$131.8M	20x	as long as short
Phoenix META	+0.0750%	1h	747.82	+0.129%	$798K	$1.5M	20x	as long as short