Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h +0.008%

Price spread now: Binance against Coinbase International+0.036%7-day average +0.116% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$300.296% of the position

Long on Coinbase International Short on Binance

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)+0.090%+$9 · spread now +0.036%, 7d avg +0.116%

Together, before fees+0.109%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.080% cheaper against Coinbase International than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.116%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	744.73	0.0104	pay 0.0013% / 1h	12m 19s	$650K	$7.9M	10x
Short	Binance METAUSDT	745.00	0	get 0.0000% / 8h	1h 12m	$24.9M	$188.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.036%Rate

Funding earned: −$21.84
Price spread: +0.036% → +0.116%: −$7.99
Slippage, 4 orders: −$9.63
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$59.46
Costs to cover: 0.296%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Binance: live order book, 1 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 Coinbase International live order book, 2 min ago	1.95 bp	7.8 bp −$8	10.4 bp −$104	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	0.07 bp	6.4 bp −$6	10.9 bp −$109	37.9 bp −$3,787	doesn't fit

META on 37 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	744.71	−0.003%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0038%	1h	744.66	−0.009%	$480K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.32	+0.080%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.80	+0.009%	$548K	$1.8M	17x	as long as short
Binance METAUSDTshort	0.0000%	8h	745.00	+0.036%	$24.9M	$188.0M	20x
Bybit METAUSDT	0.0000%	8h	744.81	+0.011%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.02	+0.039%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.36	−0.050%	$463K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.96	+0.031%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.70	−0.003%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.77	+0.006%	$13K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.85	+0.016%	$929	$8.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.63	−0.013%	$34K	$274K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.76	+0.004%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.93	+0.027%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.87	+0.019%	$2.2M	$13.8M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.35	+0.083%	$789K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.67	−0.008%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.41	+0.091%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.03	+0.040%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.62	−0.015%	$578K	$572K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.93	+0.027%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.48	−0.034%	$685K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	744.89	+0.022%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.89	+0.155%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.98	+0.034%	$1.6M	$691K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.16	−0.077%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.96	+0.031%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.82	+0.012%	$268	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0104%	1h	744.73	long leg	$650K	$7.9M	10x
Injective META/USDC PERP	+0.0220%	1h	747.34	+0.350%	$172K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	745.51	+0.105%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0376%	1h	745.47	+0.099%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0488%	1h	745.45	+0.097%	$78.2M	$128.0M	20x	as long as short
Phoenix META	+0.0739%	1h	745.99	+0.169%	$796K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	745.08	+0.047%	$16	$103	10x	as long as short
edgeX METAUSDC	+0.0926%	4h	744.82	+0.013%	$62K	$345K	10x	as long as short