Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h −0.015%

Price spread now: Ondo Perps against KuCoin−0.020%7-day average −0.017% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.091%−$9 on $10k

Price spread, last 7 days+0.171%+$17 · spread now −0.020%, 7d avg −0.017%

Together, before fees+0.080%+ Points / potential airdropOndo Perps: Active · farm board+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	746.26	0.0100	pay 0.0100% / 8h	7h 59m	$1.6M	$735K	20x
Short	Ondo Perps META-USD.P	746.11	0.0050	get 0.0006% / 1h	59m 17s	$729K	$5.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$10.42
Price spread: −0.020% → −0.017%: −$0.26
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$27.68
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 7 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 7 min ago	5.36 bp	25.0 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	745.35	−0.122%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.00	−0.035%	$480K	$597K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.71	−0.074%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.86	−0.054%	$25.4M	$190.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.47	−0.106%	$7.5M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.16	−0.147%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.74	−0.070%	$476K	$6.1M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.36	−0.121%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	747.50	+0.167%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.70	+0.193%	$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
Nado META-PERP	0.0000%	1h	745.75	−0.068%	$481K	$560K	20x	as long as short
SunX META-USDT	0.0000%	8h	745.80	−0.062%	$693	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.80	−0.062%	$50K	$290K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.34	+0.011%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.18	−0.011%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.77	−0.066%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.89	−0.050%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.26	0.000%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.02	−0.166%	$567K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.29	−0.130%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.Pshort	+0.0050%	1h	746.11	−0.020%	$729K	$5.2M	10x
Paradex META-USD-PERP	+0.0057%	8h	745.87	−0.053%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.41	+0.020%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	746.59	+0.044%	$633	$1K	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	746.26	long leg	$1.6M	$735K	20x
ApeX Omni METAUSDT	+0.0100%	1h	746.64	+0.051%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.97	−0.039%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.77	−0.066%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	745.39	−0.117%	$642K	$7.9M	10x	as long as short
Lighter RH META	+0.0168%	1h	745.61	−0.087%	$795K	$2.9M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.51	+0.034%	$176K	$52K	30x	as long as short
Lighter META	+0.0272%	1h	745.88	−0.051%	$1.1M	$2.8M	20x	as long as short
Popdex METAUSDT	+0.0408%	1h	745.96	−0.040%	$177K	$202K	20x	as long as short
tradeXYZ xyz:META	+0.0679%	1h	745.94	−0.043%	$84.7M	$132.6M	20x	as long as short
Phoenix META	+0.0750%	1h	748.38	+0.284%	$799K	$1.5M	20x	as long as short
Hotstuff META-PERP	+0.0776%	1h	746.46	+0.027%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0907%	4h	746.95	+0.092%	$62K	$345K	10x	as long as short