Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.002%

Price spread now: KuCoin against Popdex−0.001%7-day average −0.038% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$920.924% of the position

Long on Popdex Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.032%+$3 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.001%, 7d avg −0.038%

Together, before fees−0.004%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.037% dearer against Popdex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex METAUSDT	747.49	0.0096	pay 0.0012% / 1h	4m 34s	$180K	$199K	20x
Short	KuCoin METAUSDTM	747.48	0.0100	get 0.0100% / 8h	3h 04m	$1.6M	$625K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Popdex. 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 PopdexbpFee KuCoinbpOrdersPrice spread, now −0.001%Rate

Funding earned: $0.84
Price spread: −0.001% → −0.038%: $3.7
Slippage, 4 orders: −$74.03
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$87.89
Costs to cover: 0.924%
Break-even: 739.4 days

Slippage from Popdex: live order book, 49 min ago; KuCoin: live order book, 6 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 Popdex live order book, 49 min ago	0.34 bp	4.1 bp −$4	7.7 bp −$77	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	4.14 bp	54.7 bp −$55	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	747.32	−0.023%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0002%	1h	747.02	−0.063%	$483K	$556K	20x	as long as short
Aster METAUSDT	0.0000%	8h	747.18	−0.042%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	747.28	−0.029%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.47	−0.003%	$28.5M	$182.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.36	−0.017%	$7.5M	$14.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.79	+0.040%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.91	−0.078%	$421K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	747.58	+0.013%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	748.03	+0.073%	$12K	$448K	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	747.12	−0.049%	$965	$8.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.57	−0.123%	$31K	$252K	10x	as long as short
HTX META-USDT	0.0000%	8h	747.06	−0.058%	$106K	$304K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.93	+0.059%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	747.50	+0.001%	$770K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	747.20	−0.039%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.61	+0.016%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.80	−0.092%	$588K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	747.19	−0.040%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.55	−0.126%	$770K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	747.34	−0.020%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	747.20	−0.039%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	748.11	+0.083%	$52K	$82K	10x	as long as short
Popdex METAUSDTlong	+0.0096%	1h	747.49	long leg	$180K	$199K	20x
KuCoin METAUSDTMshort	+0.0100%	8h	747.48	−0.001%	$1.6M	$625K	20x
ApeX Omni METAUSDT	+0.0100%	1h	747.07	−0.056%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.03	−0.062%	$1K	$24	10x	as long as short
Bitget METAUSDT	+0.0101%	8h	747.47	−0.003%	$5.5M	$11.9M	100x	as long as short
Aevo META-PERP	+0.0104%	1h	746.94	−0.073%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	747.35	−0.019%	$667K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.19	−0.040%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	747.53	+0.005%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	747.49	0.000%	$916K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0346%	1h	747.61	+0.016%	$72.0M	$121.8M	20x	as long as short
Phoenix META	+0.0633%	1h	749.25	+0.235%	$800K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0974%	4h	747.99	+0.067%	$62K	$338K	10x	as long as short