META

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0382%/8h= −41.8% APRnext payment −$0.48 per $10,000 · paid last 24h −0.035%

Price spread now: Coinbase International against tradeXYZ−0.056%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on tradeXYZ Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.259%−$26 on $10k

Price spread, last 4 days (all we have)+0.105%+$10 · spread now −0.056%, 7d avg −0.078%

Together, before fees−0.155%+ Points / potential airdroptradeXYZ: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.022% dearer against tradeXYZ than usual: you sell high and buy low (spread −0.056% now, against its 7-day average of −0.078%): +$2 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.259% in total) that is about 14 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.259% in total (about -13.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.48 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:META	745.15	0.0486	pay 0.0061% / 1h	23m 02s	$77.7M	$127.4M	20x
Short	Coinbase International META-PERP-INTX	744.73	0.0104	get 0.0013% / 1h	23m 02s	$650K	$7.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against tradeXYZ. 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 tradeXYZbpFee Coinbase InternationalbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$80.15
Price spread: −0.056% → −0.078%: $2.18
Slippage, 4 orders: −$7.59
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$113.56
Costs to cover: 0.356%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 7 min ago; Coinbase International: live order book, 1 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 tradeXYZ live order book, 7 min ago	0.40 bp	10.4 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 1 min ago	1.95 bp	7.7 bp −$8	10.5 bp −$105	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	744.83	−0.043%	$333K	$1.1M	20x	as long as short
Nado META-PERP	−0.0044%	1h	744.75	−0.053%	$480K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.14	−0.001%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.59	−0.075%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.77	−0.051%	$25.0M	$188.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.57	−0.078%	$7.3M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.09	−0.008%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.31	−0.113%	$460K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.98	−0.023%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.86	−0.038%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.95	−0.026%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.71	−0.059%	$789	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.30	−0.114%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.69	−0.062%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.90	−0.034%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.62	−0.071%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.12	−0.004%	$786K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.59	−0.075%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.33	+0.024%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.82	−0.044%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.33	−0.110%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.82	−0.044%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.60	−0.074%	$685K	$5.3M	10x	as long as short
edgeX METAUSDC	+0.0052%	4h	745.04	−0.015%	$62K	$342K	10x	as long as short
Paradex META-USD-PERP	+0.0059%	8h	744.84	−0.042%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.82	+0.090%	$52K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.80	−0.047%	$1.6M	$685K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.59	−0.075%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.80	−0.047%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.69	−0.061%	$268	—	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0104%	1h	744.73	−0.056%	$650K	$7.9M	10x
Injective META/USDC PERP	+0.0220%	1h	746.56	+0.189%	$172K	$46K	30x	as long as short
Lighter META	+0.0352%	1h	745.27	+0.016%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0368%	1h	745.44	+0.039%	$33K	$105	20x	as long as short
tradeXYZ xyz:METAlong	+0.0486%	1h	745.15	long leg	$77.7M	$127.4M	20x
Phoenix META	+0.0739%	1h	746.28	+0.152%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	744.99	−0.022%	$13	$46	—	as long as short