Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h −0.004%

Price spread now: KuCoin against Popdex+0.003%7-day average −0.040% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$820.820% of the position

Long on Popdex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.069%−$7 · spread now +0.003%, 7d avg −0.040%

Together, before fees−0.035%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.042% dearer against Popdex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex METAUSDT	742.01	0.0048	pay 0.0006% / 1h	24m 47s	$178K	$199K	20x
Short	KuCoin METAUSDTM	742.03	0.0100	get 0.0100% / 8h	5h 24m	$1.6M	$519K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Popdex. 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 PopdexbpFee KuCoinbpOrdersPrice spread, now +0.003%Rate

Funding earned: $10.92
Price spread: +0.003% → −0.040%: $4.22
Slippage, 4 orders: −$63.62
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$66.88
Costs to cover: 0.820%
Break-even: 49.9 days

Slippage from Popdex: live order book, 39 min ago; KuCoin: live order book, 11 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 Popdex live order book, 39 min ago	0.54 bp	4.3 bp −$4	10.3 bp −$103	doesn't fit	doesn't fit
Sell KuCoin live order book, 11 min ago	3.64 bp	46.2 bp −$46	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	742.08	+0.009%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0023%	1h	741.76	−0.033%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.78	−0.031%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.64	−0.050%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.87	−0.019%	$27.4M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.83	−0.024%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.72	−0.039%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.59	−0.057%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.86	−0.020%	$5.5M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	742.17	+0.022%	$2.4M	$3.1M	—	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	742.19	+0.025%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.06	+0.007%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.74	−0.036%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.47	+0.062%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.95	−0.008%	$764K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.82	−0.026%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.70	−0.042%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.18	+0.023%	—	$10K	25x	as long as short
Popdex METAUSDTlong	+0.0048%	1h	742.01	long leg	$178K	$199K	20x
Polymarket Perps META-USD	+0.0050%	1h	741.69	−0.043%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.96	−0.007%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.36	−0.088%	$721K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	741.80	−0.029%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.79	+0.106%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.78	−0.031%	$618K	$7.2M	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	742.03	+0.003%	$1.6M	$519K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.39	−0.084%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.04	+0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.84	−0.022%	$267	—	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0155%	1h	741.59	−0.057%	$31K	$245K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.80	+0.376%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	742.39	+0.051%	$33K	$105	20x	as long as short
Lighter META	+0.0264%	1h	741.91	−0.013%	$861K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0348%	1h	741.87	−0.019%	$69.2M	$120.1M	20x	as long as short
edgeX METAUSDC	+0.0462%	4h	742.01	0.000%	$62K	$335K	10x	as long as short
Phoenix META	+0.0496%	1h	743.31	+0.175%	$548K	$1.1M	20x	as long as short