Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h −0.019%

Price spread now: HTX against Coinbase International+0.115%7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now +0.115%, 7d avg +0.085%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.030% dearer against Coinbase International than usual: you sell high and buy low (spread +0.115% now, against its 7-day average of +0.085%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 19 hours. Mind the row above: over the last 7 days funding on this pair paid +0.063%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	745.20	0.0128	pay 0.0016% / 1h	41m 40s	$619K	$7.4M	10x
Short	HTX META-USDT	746.06	0	get 0.0000% / 8h	3h 41m	$106K	$301K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$26.88
Price spread: +0.115% → +0.085%: $3.01
Slippage, 4 orders: −$12.99
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$58.86
Costs to cover: 0.350%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; HTX: live order book, 10 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	0.07 bp	5.9 bp −$6	9.7 bp −$97	doesn't fit	doesn't fit
Sell HTX live order book, 10 min ago	2.69 bp	8.7 bp −$9	9.9 bp −$99	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	746.00	+0.107%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0023%	1h	745.80	+0.080%	$482K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.98	+0.105%	$470K	$554K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.10	+0.120%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.34	+0.153%	$28.5M	$183.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.32	+0.150%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.27	+0.144%	$6.0M	$13.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.67	+0.063%	$365K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.43	+0.165%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.99	−0.028%	$2.4M	$3.2M	—	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	745.25	+0.007%	$12K	$451K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.87	+0.090%	$712	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.70	+0.067%	$31K	$246K	10x	as long as short
HTX META-USDTshort	0.0000%	8h	746.06	+0.115%	$106K	$301K	30x
Phemex METAUSDT	0.0000%	4h	745.85	+0.087%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.60	+0.188%	$784K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.31	+0.015%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.40	+0.161%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.38	+0.158%	$180K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.85	+0.087%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.18	+0.132%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.55	+0.047%	$786K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	746.14	+0.126%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.69	+0.066%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0092%	8h	746.21	+0.135%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.06	+0.115%	$1.6M	$605K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.39	−0.109%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.33	+0.152%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.16	+0.128%	$269	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0128%	1h	745.20	long leg	$619K	$7.4M	10x
Injective META/USDC PERP	+0.0220%	1h	747.17	+0.264%	$172K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	746.50	+0.174%	$866K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0240%	1h	746.47	+0.170%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0335%	1h	746.47	+0.170%	$70.3M	$121.1M	20x	as long as short
edgeX METAUSDC	+0.0515%	4h	745.73	+0.070%	$62K	$336K	10x	as long as short
Phoenix META	+0.0633%	1h	746.12	+0.123%	$773K	$1.4M	20x	as long as short