Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Phemex against Gate+0.062%7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$1081.081% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.098%+$10 · spread now +0.062%, 7d avg +0.087%

Together, before fees+0.097%+$10 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 0.026% cheaper against Gate than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.087%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	744.47	0	get 0.0000% / 8h	1h 33m	$460K	$6.1M	100x
Short	Phemex METAUSDT	744.93	0	get 0.0000% / 4h	1h 33m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Gate. 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 GatebpFee PhemexbpOrdersPrice spread, now +0.062%Rate

Funding earned: $0
Price spread: +0.062% → +0.087%: −$2.55
Slippage, 4 orders: −$81.06
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$110.61
Costs to cover: 1.081%
Break-even: never at this rate

Slippage from Gate: live order book, 5 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 Gate live order book, 5 min ago	6.25 bp	16.1 bp −$16	43.8 bp −$438	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.95 bp	38.5 bp −$39	doesn't fit	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	744.93	+0.062%	$333K	$1.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0045%	1h	744.37	−0.013%	$34K	$275K	10x	as long as short
Nado META-PERP	−0.0030%	1h	744.96	+0.066%	$482K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.68	+0.162%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.75	+0.038%	$552K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.88	+0.055%	$25.2M	$188.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.90	+0.058%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.09	+0.083%	$6.0M	$12.7M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	744.47	long leg	$460K	$6.1M	100x
Bitget METAUSDT	0.0000%	8h	745.09	+0.083%	$5.6M	$12.4M	100x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	744.08	−0.052%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.20	−0.036%	$12K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.97	+0.067%	$825	$8.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	744.72	+0.034%	$106K	$308K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	744.93	+0.062%	$2.0M	$8K	10x
QFEX META-USD	+0.0031%	1h	744.76	+0.039%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.57	+0.148%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.05	−0.056%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.20	+0.098%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.15	+0.091%	$177K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.86	+0.052%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.74	+0.036%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.55	+0.011%	$710K	$5.3M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	745.18	+0.096%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.47	+0.134%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.93	+0.062%	$1.6M	$679K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.50	−0.130%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.89	+0.056%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.78	+0.042%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.06	+0.079%	$667K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.56	+0.281%	$172K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0376%	1h	744.47	0.000%	$33K	$105	20x	as long as short
Lighter META	+0.0376%	1h	745.73	+0.169%	$1.1M	$2.7M	20x	as long as short
tradeXYZ xyz:META	+0.0507%	1h	745.50	+0.138%	$77.4M	$127.5M	20x	as long as short
edgeX METAUSDC	+0.0548%	4h	744.17	−0.041%	$62K	$343K	10x	as long as short
Phoenix META	+0.0739%	1h	745.19	+0.097%	$796K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	744.99	+0.070%	—	—	—	as long as short