Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0248%/8h= +27.2% APRpaid last 24h +0.024%

Price spread now: Coinbase International against BloFin−0.037%58s7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.284% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.037%, 7d avg −0.117%

Together, before fees+0.073%+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Coinbase International is 0.080% dearer against BloFin than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.117%. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.120% in total (about 6.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin META-USDT	747.56	−0.0120	get 0.0120% / 8h	3h 07m	$330K	$1.1M	20x
Short	Coinbase International META-PERP-INTX	747.28	0.0128	get 0.0016% / 1h	7m 25s	$662K	$7.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.037%Rate

Funding earned: $52.08
Price spread: −0.037% → −0.117%: $7.99
Slippage, 4 orders: −$6.38
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $31.69
Costs to cover: 0.284%
Break-even: 2.7 days

Slippage from BloFin: live order book, 5 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 BloFin live order book, 5 min ago	0.07 bp	7.5 bp −$8	7.8 bp −$78	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	2.01 bp	7.8 bp −$8	12.3 bp −$123	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-USDTlong	−0.0120%	8h	747.56	long leg	$330K	$1.1M	20x
Nado META-PERP	−0.0002%	1h	747.45	−0.014%	$483K	$556K	20x	as long as short
Aster METAUSDT	0.0000%	8h	747.33	−0.030%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	747.64	+0.011%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.87	+0.041%	$28.5M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.86	+0.040%	$7.5M	$14.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.93	+0.049%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	747.28	−0.037%	$427K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	748.56	+0.133%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.65	+0.012%	$12K	$448K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	747.48	−0.011%	$946	$8.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.73	−0.111%	$31K	$252K	10x	as long as short
HTX META-USDT	0.0000%	8h	748.24	+0.091%	$107K	$304K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.53	−0.004%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	748.00	+0.059%	$771K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	747.39	−0.023%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.79	+0.031%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	747.37	−0.025%	$588K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	747.67	+0.015%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	747.09	−0.063%	$773K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	747.45	−0.015%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	747.63	+0.009%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	748.25	+0.093%	$52K	$82K	10x	as long as short
Bitget METAUSDT	+0.0088%	8h	747.90	+0.045%	$5.5M	$11.9M	100x	as long as short
Popdex METAUSDT	+0.0096%	1h	747.91	+0.047%	$180K	$199K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	747.76	+0.027%	$1.6M	$623K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	747.06	−0.067%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.43	−0.017%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	747.24	−0.043%	$269	—	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0128%	1h	747.28	−0.037%	$662K	$7.5M	10x
Injective META/USDC PERP	+0.0220%	1h	750.75	+0.427%	$173K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0248%	1h	748.02	+0.062%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	747.97	+0.055%	$903K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0339%	1h	748.00	+0.059%	$72.0M	$121.7M	20x	as long as short
Phoenix META	+0.0633%	1h	749.25	+0.226%	$800K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0974%	4h	747.99	+0.058%	$62K	$338K	10x	as long as short