Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0504%/8h= −55.2% APRpaid last 24h −0.094%

Price spread now: KuCoin against edgeX+0.012%83s7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$120as 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−$770.771% of the position

Long on edgeX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.432%−$43 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.012%, 7d avg −0.025%

Together, before fees−0.455%+ Points / potential airdropedgeX: Active · farm board−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.037% dearer against edgeX than usual: you sell high and buy low (spread +0.012% now, against its 7-day average of −0.025%): +$4 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.432% in total) that is about 15 hours. The two prices were read 83 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX METAUSDC	740.81	0.0604	pay 0.0302% / 4h	1h 44m	$62K	$350K	10x
Short	KuCoin METAUSDTM	740.90	0.0100	get 0.0100% / 8h	5h 44m	$1.6M	$882K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpFee KuCoinbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$105.89
Price spread: +0.012% → −0.025%: $3.74
Slippage, 4 orders: −$56.09
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$179.24
Costs to cover: 0.771%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; KuCoin: live order book, 5 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 edgeX live order book, 2 min ago	5.27 bp	9.9 bp −$10	11.5 bp −$115	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	5.74 bp	34.4 bp −$34	doesn't fit	doesn't fit	doesn't fit

META on 37 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	739.96	−0.115%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.88	+0.009%	$338K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.00	+0.026%	$492K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.64	−0.023%	$545K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.95	+0.019%	$25.8M	$192.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.61	−0.027%	$7.5M	$16.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.81	0.000%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.49	−0.043%	$457K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.89	+0.011%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.35	−0.063%	$2.5M	$3.0M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	741.05	+0.032%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.95	+0.019%	$1K	$7.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.48	−0.045%	$36K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.62	−0.026%	$107K	$299K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.33	+0.070%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.12	+0.042%	$870K	$2.8M	20x	as long as short
QFEX META-USD	+0.0038%	1h	740.52	−0.039%	$2.2M	$14.0M	10x	as long as short
Arcus META-USD	+0.0040%	1h	740.40	−0.055%	$111K	$284K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.03	+0.030%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.40	−0.055%	$558K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.75	−0.008%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.72	−0.147%	$713K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	740.54	−0.036%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.14	−0.090%	$648K	$7.6M	10x	as long as short
Aftermath Perps METAUSD	+0.0074%	1h	741.09	+0.038%	$53K	$86K	10x	as long as short
Popdex METAUSDT	+0.0080%	1h	740.78	−0.004%	$178K	$201K	20x	as long as short
Pacifica META	+0.0100%	1h	740.26	−0.075%	$604	$2K	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	740.90	+0.012%	$1.6M	$882K	20x
ApeX Omni METAUSDT	+0.0100%	1h	740.35	−0.062%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.74	−0.009%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.53	−0.038%	$267	—	10x	as long as short
Nado META-PERP	+0.0110%	1h	740.37	−0.060%	$475K	$552K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.75	+0.397%	$168K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0286%	1h	740.91	+0.013%	$86.0M	$135.5M	20x	as long as short
Lighter META	+0.0352%	1h	741.13	+0.043%	$1.2M	$2.7M	20x	as long as short
edgeX METAUSDClong	+0.0604%	4h	740.81	long leg	$62K	$350K	10x
Phoenix META	+0.0613%	1h	741.71	+0.121%	$792K	$1.5M	20x	as long as short