Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.027%

Price spread now: KuCoin against Nado+0.067%7-day average 0.000% · 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−$116as in the Price arb table

costs, in and out, $10k−$1221.223% of the position

Long on Nado Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.172%+$17 on $10k

Price spread, last 4 days (all we have)+0.540%+$54 · spread now +0.067%, 7d avg 0.000%

Together, before fees+0.712%+ Points / potential airdropNado: Active · farm board+$71 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.067% dearer against Nado than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado META-PERP	744.82	0.0044	pay 0.0006% / 1h	32m 24s	$480K	$560K	20x
Short	KuCoin METAUSDTM	745.32	0.0100	get 0.0100% / 8h	32m 24s	$1.6M	$717K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Nado. 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 NadobpFee KuCoinbpOrdersPrice spread, now +0.067%Rate

Funding earned: $11.73
Price spread: +0.067% → 0.000%: $6.73
Slippage, 4 orders: −$103.26
Fee Nado: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$103.8
Costs to cover: 1.223%
Break-even: 68.9 days

Slippage from Nado: live order book, 6 min ago; KuCoin: 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 Nado live order book, 6 min ago	0.40 bp	14.5 bp −$15	93.1 bp −$931	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	3.96 bp	62.2 bp −$62	doesn't fit	doesn't fit	doesn't fit

META on 37 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	745.42	+0.081%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.00	+0.025%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.22	+0.054%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.39	+0.077%	$25.1M	$188.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.34	+0.070%	$7.5M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.36	+0.073%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.82	0.000%	$469K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.34	+0.070%	$5.5M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	745.45	+0.085%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.78	+0.129%	$12K	$436K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.49	+0.090%	$966	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.84	+0.003%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.10	+0.038%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.48	+0.089%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.25	+0.058%	$2.2M	$14.0M	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.15	+0.045%	$112K	$339K	10x	as long as short
Nado META-PERPlong	+0.0044%	1h	744.82	long leg	$480K	$560K	20x
Vest META-USD-PERP	+0.0046%	1h	745.55	+0.098%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.08	+0.035%	$565K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.45	+0.085%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.92	+0.014%	$729K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	745.25	+0.058%	—	—	5x	as long as short
Lighter RH META	+0.0064%	1h	745.63	+0.109%	$789K	$3.1M	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.33	+0.203%	$48K	$90K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	745.42	+0.081%	$177K	$202K	20x	as long as short
Pacifica META	+0.0100%	1h	745.54	+0.097%	$25	$189	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	745.32	+0.067%	$1.6M	$717K	20x
ApeX Omni METAUSDT	+0.0100%	1h	744.84	+0.003%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.51	+0.093%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.33	+0.069%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.33	+0.069%	$645K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.69	+0.386%	$172K	$46K	30x	as long as short
edgeX METAUSDC	+0.0275%	4h	745.30	+0.065%	$62K	$344K	10x	as long as short
Lighter META	+0.0464%	1h	745.81	+0.133%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0472%	1h	746.13	+0.176%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0574%	1h	745.91	+0.147%	$81.6M	$130.0M	20x	as long as short
Phoenix META	+0.0750%	1h	746.81	+0.268%	$797K	$1.5M	20x	as long as short