Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0872%/8h= +95.5% APRpaid last 24h +0.098%

Price spread now: edgeX against Coinbase International+0.040%7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs+$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$370.368% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.705%+$71 on $10k

Price spread, last 4 days (all we have)−0.369%−$37 · spread now +0.040%, 7d avg +0.097%

Together, before fees+0.336%+ Points / potential airdropedgeX: Active · farm board+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.056% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.040% now, against its 7-day average of +0.097%). If the spread goes back, that is −$6 on $10k: about 5 hours of funding at the current rate (+$26 a day). At the pace of the last 7 days (+0.705% in total) that is about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	742.26	0.0120	pay 0.0015% / 1h	20m 54s	$628K	$7.9M	10x
Short	edgeX METAUSDC	742.56	0.0992	get 0.0496% / 4h	3h 20m	$62K	$347K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.040%Rate

Funding earned: $183.18
Price spread: +0.040% → +0.097%: −$5.65
Slippage, 4 orders: −$17.81
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $140.72
Costs to cover: 0.368%
Break-even: 1.6 days

Slippage from Coinbase International: live order book, 3 min ago; edgeX: live order book, 12 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, 3 min ago	2.83 bp	8.3 bp −$8	10.5 bp −$105	doesn't fit	doesn't fit
Sell edgeX live order book, 12 min ago	5.11 bp	9.7 bp −$10	11.3 bp −$113	doesn't fit	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	743.30	+0.140%	$337K	$1.1M	20x	as long as short
Nado META-PERP	0.0000%	1h	742.85	+0.079%	$478K	$560K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.20	+0.127%	$487K	$620K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.10	+0.113%	$544K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.24	+0.133%	$25.8M	$191.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.18	+0.124%	$7.5M	$15.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.15	+0.120%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.71	+0.061%	$486K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.15	+0.120%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	743.23	+0.130%	$2.5M	$3.0M	—	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	742.85	+0.079%	$12K	$437K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.15	+0.120%	$787	$7.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.01	+0.101%	$36K	$270K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.06	+0.108%	$107K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.47	+0.163%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.41	+0.155%	$794K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.03	+0.104%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.81	+0.074%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.42	+0.156%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.15	+0.120%	$180K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.96	+0.094%	$565K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.27	+0.136%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.41	+0.020%	$741K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	743.07	+0.109%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	743.53	+0.171%	$51K	$93K	10x	as long as short
Pacifica META	+0.0100%	1h	743.16	+0.121%	$606	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.13	+0.117%	$1.6M	$777K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.56	+0.040%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.28	+0.137%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.04	+0.106%	$267	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0120%	1h	742.26	long leg	$628K	$7.9M	10x
Injective META/USDC PERP	+0.0220%	1h	744.78	+0.340%	$176K	$52K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	743.14	+0.119%	$33K	$105	20x	as long as short
Lighter META	+0.0296%	1h	743.59	+0.179%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0308%	1h	743.30	+0.140%	$85.2M	$133.7M	20x	as long as short
Phoenix META	+0.0791%	1h	743.95	+0.228%	$794K	$1.5M	20x	as long as short
edgeX METAUSDCshort	+0.0992%	4h	742.56	+0.040%	$62K	$347K	10x