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: SunX against Coinbase International+0.058%7-day average +0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$790.790% of the position

Long on Coinbase International Short on SunX

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)+0.010%+$1 · spread now +0.058%, 7d avg +0.122%

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

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and SunX is 0.064% cheaper against Coinbase International than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.122%). Swap the legs. 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	747.35	0.0128	pay 0.0016% / 1h	7m 03s	$667K	$7.6M	10x
Short	SunX META-USDT	747.78	0	get 0.0000% / 8h	3h 07m	$621	$8.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$26.88
Price spread: +0.058% → +0.122%: −$6.4
Slippage, 4 orders: −$60.96
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$112.24
Costs to cover: 0.790%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; SunX: 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, 2 min ago	2.01 bp	7.0 bp −$7	9.9 bp −$99	doesn't fit	doesn't fit
Sell SunX live order book, 12 min ago	28.07 bp	32.1 bp −$32	doesn't fit	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	748.02	+0.090%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0002%	1h	747.45	+0.014%	$483K	$556K	20x	as long as short
Aster METAUSDT	0.0000%	8h	747.48	+0.018%	$493K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	747.66	+0.041%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	748.00	+0.087%	$28.5M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	748.08	+0.098%	$7.5M	$14.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	748.00	+0.087%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	747.31	−0.005%	$427K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	748.56	+0.161%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.65	+0.040%	$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-USDTshort	0.0000%	8h	747.78	+0.058%	$621	$8.8M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	747.37	+0.003%	$31K	$252K	10x	as long as short
HTX META-USDT	0.0000%	8h	747.74	+0.052%	$107K	$304K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	748.07	+0.096%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	748.13	+0.104%	$771K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	747.39	+0.005%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.79	+0.059%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	747.37	+0.003%	$588K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	747.84	+0.066%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	747.09	−0.035%	$773K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	747.45	+0.013%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	747.63	+0.037%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	748.25	+0.121%	$52K	$82K	10x	as long as short
Bitget METAUSDT	+0.0088%	8h	747.91	+0.075%	$5.5M	$11.9M	100x	as long as short
Popdex METAUSDT	+0.0096%	1h	747.91	+0.075%	$180K	$199K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	747.77	+0.056%	$1.6M	$623K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	747.06	−0.039%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.78	+0.058%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	747.64	+0.039%	$269	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0128%	1h	747.35	long leg	$667K	$7.6M	10x
Injective META/USDC PERP	+0.0220%	1h	747.19	−0.021%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0248%	1h	748.02	+0.090%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	748.11	+0.102%	$905K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0341%	1h	748.13	+0.104%	$72.0M	$121.7M	20x	as long as short
Phoenix META	+0.0633%	1h	749.25	+0.254%	$800K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0974%	4h	747.99	+0.086%	$62K	$338K	10x	as long as short