Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against OKX+0.062%7-day average +0.033% · 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−$99as in the Price arb table

costs, in and out, $10k−$1021.016% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.139%+$14 · spread now +0.062%, 7d avg +0.033%

Together, before fees+0.131%+$13 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 0.029% dearer against OKX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX META-USDT-SWAP	742.52	0	get 0.0000% / 8h	5h 51m	$6.1M	$13.0M	20x
Short	Phemex METAUSDT	742.98	0	get 0.0000% / 4h	1h 51m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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 OKXbpFee PhemexbpOrdersPrice spread, now +0.062%Rate

Funding earned: $0
Price spread: +0.062% → +0.033%: $2.9
Slippage, 4 orders: −$79.61
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$98.72
Costs to cover: 1.016%
Break-even: never at this rate

Slippage from OKX: 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 OKX live order book, 5 min ago	1.21 bp	8.7 bp −$9	17.4 bp −$174	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	1.75 bp	43.5 bp −$43	doesn't fit	doesn't fit	doesn't fit

META on 37 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	742.40	−0.016%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0035%	8h	742.53	+0.001%	$339K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.88	+0.048%	$493K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.16	−0.048%	$547K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.42	−0.014%	$25.9M	$192.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.37	−0.020%	$7.7M	$15.8M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	742.52	long leg	$6.1M	$13.0M	20x
Gate META_USDT	0.0000%	8h	741.94	−0.078%	$454K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.30	−0.030%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	742.47	−0.007%	$2.5M	$3.0M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	742.66	+0.018%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.36	−0.022%	$1K	$7.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.88	−0.086%	$36K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.15	−0.050%	$107K	$299K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	742.98	+0.062%	$2.0M	$8K	10x
edgeX METAUSDC	+0.0013%	4h	742.28	−0.033%	$62K	$347K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.40	−0.016%	$854K	$2.8M	20x	as long as short
QFEX META-USD	+0.0038%	1h	742.25	−0.036%	$2.2M	$14.0M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.96	−0.075%	$111K	$284K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.45	−0.009%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.97	−0.074%	$559K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.26	−0.035%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.54	−0.132%	$702K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	742.01	−0.068%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	742.00	−0.070%	$644K	$7.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0074%	1h	742.83	+0.042%	$53K	$86K	10x	as long as short
Pacifica META	+0.0100%	1h	742.28	−0.032%	$635	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.40	−0.016%	$1.6M	$877K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.82	−0.094%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.29	−0.031%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.14	−0.051%	$267	—	10x	as long as short
Popdex METAUSDT	+0.0128%	1h	742.27	−0.034%	$179K	$200K	20x	as long as short
Nado META-PERP	+0.0130%	1h	741.88	−0.086%	$476K	$552K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.75	+0.166%	$168K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0281%	1h	742.17	−0.047%	$86.0M	$135.2M	20x	as long as short
Lighter META	+0.0384%	1h	742.50	−0.003%	$1.2M	$2.6M	20x	as long as short
Phoenix META	+0.0613%	1h	743.08	+0.075%	$793K	$1.5M	20x	as long as short