Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.005%

Price spread now: Phemex against BloFin+0.008%59s7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1211.208% of the position

Long on BloFin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.184%+$18 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.008%, 7d avg +0.015%

Together, before fees+0.176%+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin META-USDT	743.10	−0.0120	get 0.0120% / 8h	2h 28m	$331K	$1.1M	20x
Short	Phemex METAUSDT	743.16	0	get 0.0000% / 4h	2h 28m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BloFin. 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 BloFinbpFee PhemexbpOrdersPrice spread, now +0.008%Rate

Funding earned: $25.2
Price spread: +0.008% → +0.015%: −$0.7
Slippage, 4 orders: −$96.82
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$96.31
Costs to cover: 1.208%
Break-even: 33.8 days

Slippage from BloFin: live order book, 4 min ago; Phemex: live order book, 5 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 BloFin live order book, 4 min ago	1.35 bp	9.5 bp −$10	14.9 bp −$149	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	0.74 bp	48.9 bp −$49	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-USDTlong	−0.0120%	8h	743.10	long leg	$331K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	744.01	+0.122%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.72	−0.051%	$544K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.94	−0.022%	$27.7M	$182.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.80	−0.040%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.85	−0.034%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.54	−0.075%	$439K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.00	−0.013%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	742.59	−0.069%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	742.91	−0.026%	$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	742.97	−0.017%	$835	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.57	−0.071%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.73	−0.050%	$106K	$306K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	743.16	+0.008%	$2.0M	$8K	10x
Nado META-PERP	+0.0031%	1h	742.76	−0.046%	$480K	$558K	20x	as long as short
Lighter RH META	+0.0032%	1h	743.18	+0.011%	$768K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	742.66	−0.059%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.50	+0.054%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	742.89	−0.028%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.89	−0.028%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.49	−0.082%	$584K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.93	−0.023%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.33	−0.104%	$729K	$4.8M	10x	as long as short
Paradex META-USD-PERP	+0.0077%	8h	742.92	−0.025%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	743.53	+0.059%	$51K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.09	−0.001%	$1.6M	$643K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.46	−0.086%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.80	−0.040%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.77	−0.044%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	742.70	−0.054%	$657K	$7.7M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.90	+0.377%	$172K	$46K	30x	as long as short
Lighter META	+0.0336%	1h	743.24	+0.019%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	743.34	+0.032%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0442%	1h	743.27	+0.023%	$74.5M	$124.8M	20x	as long as short
Phoenix META	+0.0685%	1h	744.26	+0.156%	$795K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0917%	4h	743.12	+0.003%	$62K	$340K	10x	as long as short