Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0128%/8h= +14.0% APRpaid last 24h −0.010%

Price spread now: Coinbase International against Binance−0.088%7-day average −0.116% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$280.283% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now −0.088%, 7d avg −0.116%

Together, before fees−0.027%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.028% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.116%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance METAUSDT	746.06	0	get 0.0000% / 8h	2h 05m	$27.7M	$182.7M	20x
Short	Coinbase International META-PERP-INTX	745.40	0.0128	get 0.0016% / 1h	5m 51s	$656K	$7.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now −0.088%Rate

Funding earned: $26.88
Price spread: −0.088% → −0.116%: $2.76
Slippage, 4 orders: −$8.3
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $1.34
Costs to cover: 0.283%
Break-even: 6.7 days

Slippage from Binance: live order book, 7 min ago; Coinbase International: live order book, 3 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 Binance live order book, 7 min ago	0.07 bp	7.1 bp −$7	14.5 bp −$145	47.1 bp −$4,708	doesn't fit
Sell Coinbase International live order book, 3 min ago	1.95 bp	8.0 bp −$8	10.2 bp −$102	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	745.99	−0.009%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0001%	1h	745.82	−0.032%	$483K	$558K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.76	−0.041%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.90	−0.021%	$549K	$2.6M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	746.06	long leg	$27.7M	$182.7M	20x
Bybit METAUSDT	0.0000%	8h	746.02	−0.005%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.05	−0.001%	$6.1M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.55	−0.068%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.18	+0.016%	$5.5M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	746.12	+0.009%	$2.4M	$3.3M	—	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	746.02	−0.005%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.01	−0.007%	$658	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.88	−0.024%	$31K	$263K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.01	−0.007%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.84	−0.029%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.50	+0.059%	$776K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.37	−0.092%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.37	+0.042%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.93	−0.017%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.26	+0.027%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.83	−0.031%	$587K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.25	+0.025%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.57	−0.066%	$752K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	746.02	−0.006%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	746.25	+0.026%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.92	−0.019%	$1.6M	$658K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.52	−0.072%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.16	+0.013%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.97	−0.012%	$269	—	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0128%	1h	745.40	−0.088%	$656K	$7.8M	10x
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.264%	$172K	$46K	30x	as long as short
Lighter META	+0.0304%	1h	746.51	+0.060%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	746.41	+0.047%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0453%	1h	746.42	+0.048%	$76.2M	$125.7M	20x	as long as short
Phoenix META	+0.0685%	1h	746.97	+0.122%	$798K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0903%	4h	745.78	−0.038%	$62K	$339K	10x	as long as short