Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h +0.004%

Price spread now: Popdex against KuCoin+0.011%7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$830.827% of the position

Long on KuCoin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.035%−$3 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now +0.011%, 7d avg +0.039%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Popdex is 0.028% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.039%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	741.60	0.0100	pay 0.0100% / 8h	5h 49m	$1.6M	$504K	20x
Short	Popdex METAUSDT	741.68	0.0048	get 0.0006% / 1h	49m 06s	$178K	$199K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$10.92
Price spread: +0.011% → +0.039%: −$2.84
Slippage, 4 orders: −$64.34
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$96.5
Costs to cover: 0.827%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Popdex: live order book, 15 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, 2 min ago	3.50 bp	21.7 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Popdex live order book, 15 min ago	0.54 bp	9.1 bp −$9	12.7 bp −$127	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0055%	1h	741.51	−0.013%	$479K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.33	−0.037%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.31	−0.040%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.15	−0.061%	$27.3M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.11	−0.066%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.22	−0.051%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.35	−0.034%	$356K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.58	−0.003%	$5.4M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	741.74	+0.019%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.92	+0.043%	$13K	$432K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	741.58	−0.003%	$1K	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.97	−0.085%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.30	−0.040%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.89	+0.039%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.60	0.000%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.51	−0.012%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.40	−0.027%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.87	+0.036%	—	$10K	25x	as long as short
Popdex METAUSDTshort	+0.0048%	1h	741.68	+0.011%	$178K	$199K	20x
Polymarket Perps META-USD	+0.0050%	1h	741.38	−0.030%	$559K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.61	+0.001%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.02	−0.078%	$705K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	741.42	−0.024%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0072%	1h	742.45	+0.114%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	+0.030%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	741.60	long leg	$1.6M	$504K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.18	−0.057%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.41	−0.026%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.25	−0.047%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.36	+0.372%	$172K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	741.58	−0.003%	$861K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0232%	1h	742.01	+0.055%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0348%	1h	741.66	+0.008%	$69.0M	$119.9M	20x	as long as short
Phoenix META	+0.0496%	1h	742.78	+0.159%	$496K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0529%	4h	741.87	+0.037%	$62K	$335K	10x	as long as short