Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h +0.015%

Price spread now: KuCoin against Ondo Perps+0.050%7-day average +0.020% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 7 days−0.057%−$6 · spread now +0.050%, 7d avg +0.020%

Together, before fees+0.034%+ Points / potential airdropOndo Perps: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and KuCoin is 0.029% dearer against Ondo Perps than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps META-USD.P	745.23	0.0050	pay 0.0006% / 1h	9m 59s	$748K	$4.9M	10x
Short	KuCoin METAUSDTM	745.60	0.0100	get 0.0100% / 8h	2h 09m	$1.6M	$656K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Ondo Perps. 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 Ondo PerpsbpFee KuCoinbpOrdersPrice spread, now +0.050%Rate

Funding earned: $10.42
Price spread: +0.050% → +0.020%: $2.95
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$3.64
Costs to cover: 0.170%
Break-even: 9.4 days

Slippage unknown: Ondo Perps: no order-book sample; KuCoin: live order book, 1 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 1 min ago	5.90 bp	48.7 bp −$49	doesn't fit	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	745.92	+0.093%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.52	+0.038%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.58	+0.047%	$549K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.72	+0.066%	$27.7M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.77	+0.072%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.90	+0.090%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.38	+0.020%	$433K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.89	+0.089%	$5.5M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	745.86	+0.084%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.06	−0.156%	$12K	$443K	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-USDT	0.0000%	8h	745.75	+0.070%	$808	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.44	+0.028%	$31K	$263K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.62	+0.052%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.34	+0.015%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0004%	1h	745.61	+0.051%	$482K	$557K	20x	as long as short
Lighter RH META	+0.0032%	1h	746.16	+0.125%	$775K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.74	−0.066%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.26	+0.138%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.52	+0.039%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.81	+0.078%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.41	+0.024%	$586K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.32	−0.122%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.Plong	+0.0050%	1h	745.23	long leg	$748K	$4.9M	10x
Paradex META-USD-PERP	+0.0069%	8h	745.81	+0.078%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	745.20	−0.004%	$52K	$81K	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	745.60	+0.050%	$1.6M	$656K	20x
ApeX Omni METAUSDT	+0.0100%	1h	744.10	−0.152%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.78	+0.074%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.69	+0.062%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	744.53	−0.094%	$655K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.85	−0.319%	$171K	$46K	30x	as long as short
Lighter META	+0.0296%	1h	746.23	+0.134%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	746.32	+0.146%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0449%	1h	746.27	+0.140%	$75.9M	$125.7M	20x	as long as short
edgeX METAUSDC	+0.0521%	4h	744.35	−0.119%	$62K	$339K	10x	as long as short
Phoenix META	+0.0685%	1h	745.86	+0.085%	$796K	$1.4M	20x	as long as short