Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.045%

Price spread now: Phemex against Binance+0.003%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1061.058% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 2 days (all we have)+0.047%+$5 · spread now +0.003%, 7d avg +0.026%

Together, before fees+0.092%+$9 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: Phemex is 0.023% cheaper against Binance than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance METAUSDT	740.48	0	get 0.0000% / 8h	2h 09m	$26.9M	$177.5M	20x
Short	Phemex METAUSDT	740.50	0	get 0.0000% / 4h	2h 09m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Binance. 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 BinancebpFee PhemexbpOrdersPrice spread, now +0.003%Rate

Funding earned: $0
Price spread: +0.003% → +0.026%: −$2.32
Slippage, 4 orders: −$83.77
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$108.09
Costs to cover: 1.058%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; Phemex: live order book, 4 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 Binance live order book, 4 min ago	0.07 bp	6.4 bp −$6	13.6 bp −$136	53.4 bp −$5,342	doesn't fit
Sell Phemex live order book, 4 min ago	2.90 bp	47.4 bp −$47	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	740.31	−0.023%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0107%	1h	740.33	−0.020%	$397K	$317K	20x	as long as short
Hotstuff META-PERP	−0.0056%	1h	740.64	+0.022%	$33K	$105	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.88	+0.054%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.42	−0.008%	$548K	$1.5M	17x	as long as short
Binance METAUSDTlong	0.0000%	8h	740.48	long leg	$26.9M	$177.5M	20x
Bybit METAUSDT	0.0000%	8h	740.36	−0.016%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.27	−0.028%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.19	−0.039%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.45	−0.004%	$5.8M	$11.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.48	+0.001%	$1.6M	$2.5M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.45	−0.005%	$12K	$525K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.97	+0.066%	$882	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.27	−0.028%	$105K	$283K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	740.50	+0.003%	$2.0M	$8K	10x
QFEX META-USD	+0.0012%	1h	740.42	−0.008%	$2.2M	$14.2M	10x	as long as short
Lighter META	+0.0032%	1h	740.70	+0.030%	$859K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	740.74	+0.035%	$748K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.22	−0.035%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.94	+0.062%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.48	0.000%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.68	+0.027%	$68.5M	$120.5M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.60	+0.016%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.45	−0.004%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.11	−0.050%	$641K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.26	−0.030%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	741.03	+0.075%	$45K	$61K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0074%	1h	740.69	+0.028%	$30K	$256K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	740.26	−0.030%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.59	+0.015%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.35	−0.018%	$1.6M	$354K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.26	−0.030%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.47	−0.001%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.33	−0.021%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.25	−0.031%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0908%	4h	740.46	−0.002%	$62K	$328K	10x	as long as short