Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0069%/8h= −7.6% APRpaid last 24h −0.018%

Price spread now: QFEX against KuCoin−0.027%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$850.846% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.089%−$9 on $10k

Price spread, last 7 days+0.071%+$7 · spread now −0.027%, 7d avg +0.036%

Together, before fees−0.018%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and QFEX is 0.063% cheaper against KuCoin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.036%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	744.92	0.0100	pay 0.0100% / 8h	1h 24m	$1.6M	$685K	20x
Short	QFEX META-USD	744.72	0.0031	get 0.0004% / 1h	24m 32s	$2.2M	$13.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$14.52
Price spread: −0.027% → +0.036%: −$6.25
Slippage, 4 orders: −$62.61
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$105.37
Costs to cover: 0.846%
Break-even: never at this rate

Slippage from KuCoin: live order book, 1 min ago; QFEX: live order book, 10 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, 1 min ago	4.76 bp	23.4 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 10 min ago	2.15 bp	7.1 bp −$7	8.4 bp −$84	17.7 bp −$1,765	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	744.90	−0.003%	$333K	$1.1M	20x	as long as short
Nado META-PERP	−0.0044%	1h	744.32	−0.081%	$480K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.23	+0.042%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.51	−0.055%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.81	−0.015%	$25.0M	$188.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.78	−0.019%	$7.3M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.70	−0.030%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.30	−0.083%	$460K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.74	−0.024%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.86	−0.007%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.95	+0.005%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.90	−0.003%	$548	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.48	−0.059%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.81	−0.015%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.90	−0.003%	$2.0M	$8K	10x	as long as short
QFEX META-USDshort	+0.0031%	1h	744.72	−0.027%	$2.2M	$13.9M	10x
Lighter RH META	+0.0032%	1h	744.90	−0.003%	$786K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.60	−0.043%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.48	+0.075%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.78	−0.019%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.47	−0.060%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.91	−0.001%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.60	−0.043%	$685K	$5.3M	10x	as long as short
edgeX METAUSDC	+0.0052%	4h	745.04	+0.016%	$62K	$342K	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	744.52	−0.053%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.82	+0.121%	$52K	$80K	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	744.92	long leg	$1.6M	$685K	20x
ApeX Omni METAUSDT	+0.0100%	1h	744.59	−0.044%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.92	0.000%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.82	−0.013%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.73	−0.026%	$650K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.56	+0.220%	$172K	$46K	30x	as long as short
Lighter META	+0.0352%	1h	745.05	+0.017%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0368%	1h	745.37	+0.060%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0486%	1h	745.36	+0.059%	$77.7M	$127.4M	20x	as long as short
Phoenix META	+0.0739%	1h	746.28	+0.183%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	744.78	−0.019%	$13	$46	—	as long as short