Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: KuCoin against Phemex+0.008%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$159as in the Price arb table

costs, in and out, $10k−$1661.662% of the position

Long on Phemex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 4 days (all we have)−0.217%−$22 · spread now +0.008%, 7d avg −0.064%

Together, before fees−0.007%−$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.072% dearer against Phemex than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	745.40	0	get 0.0000% / 4h	3h 38m	$2.0M	$8K	10x
Short	KuCoin METAUSDTM	745.46	0.0100	get 0.0100% / 8h	3h 38m	$1.6M	$607K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Phemex. 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 PhemexbpFee KuCoinbpOrdersPrice spread, now +0.008%Rate

Funding earned: $21
Price spread: +0.008% → −0.064%: $7.25
Slippage, 4 orders: −$142.18
Fee Phemex: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$137.93
Costs to cover: 1.662%
Break-even: 53.0 days

Slippage from Phemex: live order book, 4 min ago; KuCoin: 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 Phemex live order book, 4 min ago	1.41 bp	37.7 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	5.16 bp	55.4 bp −$55	doesn't fit	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	745.46	+0.008%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0025%	1h	744.86	−0.072%	$482K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.05	−0.047%	$469K	$555K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.70	+0.040%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.20	+0.107%	$28.5M	$183.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.05	+0.087%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.10	+0.094%	$6.0M	$13.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.20	−0.027%	$365K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.81	+0.055%	$5.4M	$11.9M	100x	as long as short
Variational Omni META	0.0000%	8h	746.02	+0.084%	$2.4M	$3.2M	—	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	746.21	+0.108%	$12K	$453K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.27	−0.017%	$792	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.75	−0.087%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.19	−0.028%	$106K	$302K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	745.40	long leg	$2.0M	$8K	10x
Lighter RH META	+0.0032%	1h	745.41	+0.001%	$782K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.33	−0.009%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.48	+0.011%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.45	+0.007%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.92	−0.064%	$586K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.34	−0.008%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.64	−0.102%	$786K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	745.21	−0.025%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	746.03	+0.084%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0091%	8h	745.12	−0.038%	—	—	5x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	745.46	+0.008%	$1.6M	$607K	20x
ApeX Omni METAUSDT	+0.0100%	1h	745.30	−0.013%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.30	−0.013%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.17	−0.031%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.74	+0.046%	$621K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.99	−0.055%	$172K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	746.31	+0.122%	$865K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0248%	1h	745.38	−0.003%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0343%	1h	746.20	+0.107%	$70.4M	$121.1M	20x	as long as short
edgeX METAUSDC	+0.0482%	4h	746.22	+0.110%	$62K	$337K	10x	as long as short
Phoenix META	+0.0633%	1h	746.93	+0.205%	$781K	$1.4M	20x	as long as short