Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0060%/8h= +6.5% APRpaid last 24h −0.034%

Price spread now: KuCoin against Arcus−0.030%7-day average −0.005% · 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−$92as in the Price arb table

costs, in and out, $10k−$890.894% of the position

Long on Arcus Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.028%−$3 on $10k

Price spread, last 4 days (all we have)+0.077%+$8 · spread now −0.030%, 7d avg −0.005%

Together, before fees+0.049%+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.024% cheaper against Arcus than usual: you would sell low and buy high (spread −0.030% now, against its 7-day average of −0.005%). If the spread goes back, that is −$2 on $10k: about 33 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus META-USD	741.26	0.0040	pay 0.0005% / 1h	48m 24s	$110K	$330K	10x
Short	KuCoin METAUSDTM	741.04	0.0100	get 0.0100% / 8h	5h 48m	$1.6M	$506K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Arcus. 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 ArcusbpFee KuCoinbpOrdersPrice spread, now −0.030%Rate

Funding earned: $12.54
Price spread: −0.030% → −0.005%: −$2.45
Slippage, 4 orders: −$72.91
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$79.31
Costs to cover: 0.894%
Break-even: 51.3 days

Slippage from Arcus: live order book, 15 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 Arcus live order book, 15 min ago	3.17 bp	6.6 bp −$7	11.5 bp −$115	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	3.50 bp	47.6 bp −$48	doesn't fit	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0047%	1h	740.72	−0.073%	$479K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.35	+0.012%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.76	−0.067%	$549K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.94	−0.043%	$27.3M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.86	−0.054%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.92	−0.046%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.78	−0.065%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.04	−0.030%	$5.4M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.74	+0.065%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.92	+0.089%	$13K	$432K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	741.58	+0.043%	$980	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.30	+0.005%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.89	+0.085%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.33	+0.009%	$762K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.04	−0.030%	$2.1M	$13.7M	10x	as long as short
Arcus META-USDlong	+0.0040%	1h	741.26	long leg	$110K	$330K	10x
Vest META-USD-PERP	+0.0046%	1h	741.47	+0.028%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.07	−0.026%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.74	−0.070%	$558K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.95	−0.042%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.43	−0.112%	$705K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	740.94	−0.043%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0073%	1h	741.82	+0.075%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	+0.076%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	741.04	−0.030%	$1.6M	$506K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.18	−0.011%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.76	−0.067%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.63	−0.085%	$267	—	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0115%	1h	740.47	−0.107%	$31K	$245K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.36	+0.418%	$172K	$48K	30x	as long as short
Lighter META	+0.0240%	1h	741.30	+0.005%	$860K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0264%	1h	741.28	+0.003%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0353%	1h	740.98	−0.038%	$69.0M	$120.0M	20x	as long as short
Phoenix META	+0.0496%	1h	742.78	+0.205%	$496K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0529%	4h	741.87	+0.083%	$62K	$335K	10x	as long as short