META

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0557%/8h= +61.0% APRnext payment +$0.70 per $10,000 · paid last 24h +0.051%

Price spread now: Phoenix against Coinbase International+0.196%7-day average +0.093% · you sell dearer than you buy

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.439%+$44 on $10k

Price spread, last 4 days (all we have)−0.262%−$26 · spread now +0.196%, 7d avg +0.093%

Together, before fees+0.177%+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Phoenix is 0.103% dearer against Coinbase International than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.093%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	743.43	0.0128	pay 0.0016% / 1h	15m 00s	$654K	$7.8M	10x
Short	Phoenix META	744.89	0.0685	get 0.0086% / 1h	15m 00s	$795K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Coinbase International. 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 Coinbase InternationalbpFee PhoenixbpOrdersPrice spread, now +0.196%Rate

Funding earned: $116.91
Price spread: +0.196% → +0.093%: $10.35
Slippage, 4 orders: −$11.1
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $99.15
Costs to cover: 0.281%
Break-even: 1.1 days

Slippage from Coinbase International: live order book, 4 min ago; Phoenix: live order book, 3 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 Coinbase International live order book, 4 min ago	2.35 bp	7.6 bp −$8	10.3 bp −$103	doesn't fit	doesn't fit
Sell Phoenix live order book, 3 min ago	0.27 bp	6.4 bp −$6	14.0 bp −$140	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
Deribit META_USDC-PERPETUAL	−0.0207%	1h	743.50	+0.009%	$31K	$264K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	743.90	+0.063%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.05	+0.084%	$479K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.77	+0.046%	$544K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.96	+0.072%	$27.6M	$182.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.89	+0.062%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.91	+0.065%	$6.0M	$12.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.52	+0.012%	$440K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.06	+0.085%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	743.82	+0.053%	$2.4M	$3.2M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	743.82	+0.052%	$12K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.02	+0.079%	$755	$8.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.77	+0.046%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.28	+0.114%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0012%	1h	743.68	+0.034%	$481K	$558K	20x	as long as short
Lighter RH META	+0.0032%	1h	744.27	+0.113%	$761K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.45	+0.003%	$109K	$331K	10x	as long as short
edgeX METAUSDC	+0.0042%	4h	743.62	+0.026%	$62K	$341K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.40	+0.130%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.95	+0.070%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.99	+0.075%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.77	+0.046%	$585K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.98	+0.074%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.21	−0.030%	$745K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0071%	8h	743.87	+0.059%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	744.27	+0.113%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.91	+0.065%	$1.6M	$652K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.01	−0.056%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.94	+0.069%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.85	+0.056%	$268	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0128%	1h	743.43	long leg	$654K	$7.8M	10x
Injective META/USDC PERP	+0.0220%	1h	746.01	+0.347%	$172K	$46K	30x	as long as short
Lighter META	+0.0296%	1h	744.30	+0.117%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	744.36	+0.125%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0445%	1h	744.47	+0.140%	$75.4M	$125.4M	20x	as long as short
Phoenix METAshort	+0.0685%	1h	744.89	+0.196%	$795K	$1.4M	20x