Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Aevo against Phemex−0.033%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.033% cheaper against Phemex than usual: you would sell low and buy high (spread −0.033% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 26 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	746.24	0	get 0.0000% / 4h	1h 57m	$2.0M	$8K	10x
Short	Aevo META-PERP	745.99	0.0104	get 0.0013% / 1h	57m 52s	$269	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now −0.033%Rate

Funding earned: $21.84
Price spread: −0.033% → 0.000%: −$3.32
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$9.48
Costs to cover: 0.280%
Break-even: 10.0 days

Slippage unknown: Phemex: live order book, 5 min ago; Aevo: no order-book sample. Net counts fees only.

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 Phemex live order book, 5 min ago	0.87 bp	43.5 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Nado META-PERP	−0.0123%	1h	746.05	−0.026%	$483K	$557K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	745.59	−0.087%	$331K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.50	−0.100%	$480K	$592K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.94	−0.040%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.79	−0.060%	$27.6M	$184.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.68	−0.075%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.22	−0.003%	$6.1M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.53	−0.095%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.20	−0.005%	$5.5M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	745.29	−0.128%	$2.4M	$3.3M	—	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	745.40	−0.113%	$12K	$439K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.12	−0.016%	$1K	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.75	−0.066%	$31K	$265K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.00	−0.032%	$106K	$306K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	746.24	long leg	$2.0M	$8K	10x
QFEX META-USD	+0.0031%	1h	746.13	−0.015%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	746.16	−0.011%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.21	−0.138%	$110K	$332K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.39	+0.020%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.39	+0.020%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.91	−0.044%	$587K	$567K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.10	−0.019%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.06	−0.024%	$716K	$5.0M	10x	as long as short
edgeX METAUSDC	+0.0058%	4h	745.10	−0.152%	$62K	$342K	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	746.14	−0.013%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.39	+0.020%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.92	−0.043%	$1.6M	$663K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.88	−0.182%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.10	−0.019%	$1K	$24	10x	as long as short
Aevo META-PERPshort	+0.0104%	1h	745.99	−0.033%	$269	—	10x
Coinbase International META-PERP-INTX	+0.0104%	1h	745.35	−0.119%	$670K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.240%	$172K	$46K	30x	as long as short
Lighter META	+0.0280%	1h	746.25	+0.001%	$1.1M	$2.7M	20x	as long as short
tradeXYZ xyz:META	+0.0501%	1h	746.27	+0.004%	$76.5M	$126.3M	20x	as long as short
Hotstuff META-PERP	+0.0600%	1h	746.38	+0.019%	$33K	$105	20x	as long as short
Phoenix META	+0.0685%	1h	746.46	+0.029%	$797K	$1.4M	20x	as long as short