Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0048%/8hpaid last 24h −0.009%

Price spread now: Coinbase International against OKX+0.184%7-day average −0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$350.349% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$7 on $10k

Price spread, last 3 days (all we have)−0.199%−$20 · spread now +0.184%, 7d avg −0.105%

Together, before fees−0.274%−$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.289% dearer against OKX than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of −0.105%. Mind the row above: over the last 7 days funding on this pair cost −0.075%, 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	OKX META-USDT-SWAP	749.72	0	get 0.0000% / 8h	4h 21m	$6.1M	$12.7M	20x
Short	Coinbase International META-PERP-INTX	751.10	0.0048	get 0.0006% / 1h	21m 37s	$651K	$6.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.184%Rate

Funding earned: $10.08
Price spread: +0.184% → −0.105%: $28.91
Slippage, 4 orders: −$14.91
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $4.08
Costs to cover: 0.349%
Break-even: 4.2 days

Slippage from OKX: live order book, 1 min ago; Coinbase International: live order book, 2 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 OKX live order book, 1 min ago	1.40 bp	10.1 bp −$10	21.3 bp −$213	578.8 bp −$57.9K	doesn't fit
Sell Coinbase International live order book, 2 min ago	1.80 bp	7.3 bp −$7	10.7 bp −$107	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
Hotstuff META-PERP	−0.0128%	1h	749.81	+0.012%	$34K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	751.70	+0.264%	$337K	$1.1M	20x	as long as short
Phoenix META	−0.0021%	1h	746.59	−0.417%	$315K	$622K	20x	as long as short
Nado META-PERP	−0.0001%	1h	750.67	+0.127%	$402K	$227K	20x	as long as short
Aster METAUSDT	0.0000%	8h	750.11	+0.052%	$461K	$451K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	749.82	+0.013%	$561K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	749.96	+0.032%	$28.1M	$164.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	750.01	+0.039%	$8.1M	$12.8M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	749.72	long leg	$6.1M	$12.7M	20x
Gate META_USDT	0.0000%	8h	749.61	−0.015%	$336K	$5.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget METAUSDT	0.0000%	8h	749.70	−0.003%	$6.0M	$9.8M	100x	as long as short
Variational Omni META	0.0000%	8h	749.56	−0.022%	$1.6M	$2.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	751.51	+0.239%	$13K	$528K	10x	as long as short
SunX META-USDT	0.0000%	8h	751.30	+0.211%	$782	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	751.15	+0.191%	$107K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	751.69	+0.263%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	749.99	+0.036%	$2.3M	$13.5M	10x	as long as short
Lighter META	+0.0032%	1h	750.10	+0.051%	$877K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	750.11	+0.052%	$741K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	751.86	+0.285%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	749.89	+0.023%	$175K	$194K	20x	as long as short
Coinbase International META-PERP-INTXshort	+0.0048%	1h	751.10	+0.184%	$651K	$6.9M	10x
tradeXYZ xyz:META	+0.0050%	1h	749.93	+0.028%	$72.1M	$111.4M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	751.12	+0.187%	$547K	$836K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	751.37	+0.220%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	749.47	−0.033%	$716K	$3.8M	10x	as long as short
Paradex META-USD-PERP	+0.0052%	8h	749.89	+0.023%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	749.65	−0.009%	$1.6M	$301K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	749.92	+0.027%	$168K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	751.29	+0.209%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	751.17	+0.194%	$270	—	10x	as long as short
Arcus META-USD	+0.0128%	1h	749.79	+0.009%	$266K	$311K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	752.38	+0.355%	$171K	$43K	30x	as long as short
Deribit META_USDC-PERPETUAL	+0.0269%	1h	751.27	+0.207%	$28K	$259K	10x	as long as short
edgeX METAUSDC	+0.0272%	4h	752.12	+0.320%	$63K	$329K	10x	as long as short
Aftermath Perps METAUSD	+0.0337%	1h	750.16	+0.059%	$42K	$49K	10x	as long as short