Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against KuCoin+0.032%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$205as in the Funding arb table

Net, price: spread back to 7d avg − costs−$188as in the Price arb table

costs, in and out, $10k−$1841.843% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)+0.241%+$24 · spread now +0.032%, 7d avg +0.064%

Together, before fees+0.031%+$3 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 Phemex is 0.032% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.064%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	744.00	0.0100	pay 0.0100% / 8h	4h 10m	$1.6M	$553K	20x
Short	Phemex METAUSDT	744.24	0	get 0.0000% / 4h	10m 44s	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against KuCoin. 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 KuCoinbpFee PhemexbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$21
Price spread: +0.032% → +0.064%: −$3.2
Slippage, 4 orders: −$160.34
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$208.55
Costs to cover: 1.843%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Phemex: live order book, 3 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 KuCoin live order book, 5 min ago	3.43 bp	34.0 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.49 bp	47.5 bp −$48	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	744.41	+0.055%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0009%	1h	743.60	−0.054%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.64	−0.048%	$469K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.25	+0.034%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.33	+0.044%	$28.4M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.47	+0.063%	$7.7M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.10	+0.013%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.81	−0.026%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.43	+0.058%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	744.35	+0.047%	$2.4M	$3.1M	—	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	744.01	+0.001%	$13K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.36	+0.048%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	744.33	+0.044%	$106K	$296K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	744.24	+0.032%	$2.0M	$8K	10x
Lighter RH META	+0.0032%	1h	744.37	+0.050%	$778K	$3.1M	20x	as long as short
QFEX META-USD	+0.0036%	1h	744.03	+0.004%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.65	−0.047%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.98	−0.003%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.48	+0.065%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.94	−0.008%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.27	+0.036%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.45	−0.074%	$823K	$4.6M	10x	as long as short
Aftermath Perps METAUSD	+0.0081%	1h	744.48	+0.065%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0084%	8h	744.20	+0.027%	—	—	5x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	744.00	long leg	$1.6M	$553K	20x
ApeX Omni METAUSDT	+0.0100%	1h	743.11	−0.120%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.40	+0.054%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.22	+0.030%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	−0.032%	$615K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0176%	1h	743.96	−0.005%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.67	+0.359%	$172K	$48K	30x	as long as short
Lighter META	+0.0280%	1h	744.36	+0.048%	$866K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0290%	1h	744.31	+0.042%	$69.7M	$120.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0355%	1h	743.92	−0.011%	$31K	$246K	10x	as long as short
edgeX METAUSDC	+0.0485%	4h	743.87	−0.017%	$62K	$338K	10x	as long as short
Phoenix META	+0.0591%	1h	744.75	+0.101%	$709K	$1.2M	20x	as long as short