Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: Phemex against Aevo−0.010%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo META-PERP	743.18	0.0104	pay 0.0013% / 1h	35m 14s	$268	—	10x
Short	Phemex METAUSDT	743.11	0	get 0.0000% / 4h	2h 35m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$21.84
Price spread: −0.010% → 0.000%: −$1
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$50.84
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Phemex: live order book, 3 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 Aevo no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	2.15 bp	40.7 bp −$41	doesn't fit	doesn't fit	doesn't fit

Aevo: 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	743.30	+0.016%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.26	+0.011%	$490K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.09	−0.012%	$544K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.24	+0.007%	$28.0M	$181.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.08	−0.014%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.19	+0.001%	$6.0M	$12.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.82	−0.049%	$431K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.33	+0.020%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	742.87	−0.042%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	742.75	−0.058%	$12K	$445K	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	743.31	+0.017%	$1K	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.84	−0.046%	$33K	$262K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.33	+0.020%	$106K	$305K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	743.11	−0.010%	$2.0M	$8K	10x
Lighter RH META	+0.0040%	1h	743.46	+0.037%	$768K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	742.65	−0.072%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.42	+0.032%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.28	+0.013%	$2.2M	$13.8M	10x	as long as short
edgeX METAUSDC	+0.0048%	4h	742.66	−0.070%	$62K	$339K	10x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.94	−0.033%	$585K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.11	−0.010%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.40	−0.105%	$803K	$4.6M	10x	as long as short
Nado META-PERP	+0.0057%	1h	742.98	−0.027%	$480K	$557K	20x	as long as short
Paradex META-USD-PERP	+0.0082%	8h	743.20	+0.002%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	743.59	+0.054%	$51K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.44	+0.034%	$1.6M	$640K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.04	−0.154%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.28	+0.013%	$1K	$24	10x	as long as short
Aevo META-PERPlong	+0.0104%	1h	743.18	long leg	$268	—	10x
Popdex METAUSDT	+0.0112%	1h	743.24	+0.008%	$178K	$200K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	742.75	−0.058%	$676K	$7.7M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.88	+0.632%	$172K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	743.48	+0.040%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0392%	1h	743.49	+0.041%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0486%	1h	743.55	+0.049%	$74.1M	$124.3M	20x	as long as short
Phoenix META	+0.0685%	1h	743.37	+0.025%	$794K	$1.4M	20x	as long as short