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 0.000%

Price spread now: Phemex against HTX+0.071%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1001.002% of the position

Long on HTX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.020%−$2 · spread now +0.071%, 7d avg +0.047%

Together, before fees−0.020%−$2 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 0.024% dearer against HTX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX META-USDT	745.93	0	get 0.0000% / 8h	2h 53m	$106K	$305K	30x
Short	Phemex METAUSDT	746.46	0	get 0.0000% / 4h	2h 53m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against HTX. 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 HTXbpFee PhemexbpOrdersPrice spread, now +0.071%Rate

Funding earned: $0
Price spread: +0.071% → +0.047%: $2.37
Slippage, 4 orders: −$76.19
Fee HTX: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$97.82
Costs to cover: 1.002%
Break-even: never at this rate

Slippage from HTX: live order book, 59 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 HTX live order book, 59 min ago	2.69 bp	11.2 bp −$11	17.7 bp −$177	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.40 bp	45.7 bp −$46	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	746.18	+0.034%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.95	+0.136%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.87	−0.008%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.34	+0.055%	$28.4M	$181.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.10	+0.023%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.26	+0.044%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.61	−0.043%	$430K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	746.09	+0.022%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.62	+0.093%	$12K	$446K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.09	+0.021%	$1K	$8.6M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.42	−0.068%	$31K	$255K	10x	as long as short
HTX META-USDTlong	0.0000%	8h	745.93	long leg	$106K	$305K	30x
Phemex METAUSDTshort	0.0000%	4h	746.46	+0.071%	$2.0M	$8K	10x
Arcus META-USD	+0.0040%	1h	745.93	0.000%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.08	+0.020%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.92	−0.001%	$2.2M	$13.8M	10x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.62	−0.042%	$587K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.95	+0.003%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.27	−0.088%	$759K	$4.5M	10x	as long as short
Lighter RH META	+0.0056%	1h	746.08	+0.020%	$768K	$2.9M	20x	as long as short
Nado META-PERP	+0.0057%	1h	745.50	−0.057%	$482K	$557K	20x	as long as short
Paradex META-USD-PERP	+0.0071%	8h	745.80	−0.018%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	746.88	+0.128%	$52K	$82K	10x	as long as short
Bitget METAUSDT	+0.0091%	8h	746.11	+0.024%	$5.5M	$11.9M	100x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.16	+0.031%	$1.6M	$631K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.87	−0.008%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.95	+0.003%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.80	−0.018%	$268	—	10x	as long as short
Popdex METAUSDT	+0.0128%	1h	746.08	+0.020%	$179K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	+0.064%	$671K	$7.6M	10x	as long as short
edgeX METAUSDC	+0.0218%	4h	745.98	+0.007%	$62K	$338K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.00	+0.412%	$173K	$46K	30x	as long as short
Lighter META	+0.0336%	1h	746.10	+0.023%	$970K	$2.5M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	746.17	+0.032%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0517%	1h	746.29	+0.048%	$72.5M	$122.2M	20x	as long as short
Phoenix META	+0.0685%	1h	748.29	+0.316%	$799K	$1.4M	20x	as long as short