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 +0.031%

Price spread now: Binance against Phemex+0.009%52s7-day average −0.015% · 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—prices read too far apart to compare

costs, in and out, $10k−$960.956% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$4 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.009%, 7d avg −0.015%

Together, before fees−0.033%−$3 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: Binance is 0.024% dearer against Phemex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.015%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	745.38	0	get 0.0000% / 4h	38m 23s	$2.0M	$8K	10x
Short	Binance METAUSDT	745.44	0	get 0.0000% / 8h	38m 23s	$25.1M	$188.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.009%Rate

Funding earned: $0
Price spread: +0.009% → −0.015%: $2.36
Slippage, 4 orders: −$73.62
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$93.26
Costs to cover: 0.956%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Binance: 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 Phemex live order book, 5 min ago	2.08 bp	38.2 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	0.20 bp	5.3 bp −$5	9.9 bp −$99	38.0 bp −$3,803	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	745.56	+0.024%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.01	−0.049%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.27	−0.014%	$548K	$3.4M	17x	as long as short
Binance METAUSDTshort	0.0000%	8h	745.44	+0.009%	$25.1M	$188.5M	20x
Bybit METAUSDT	0.0000%	8h	745.40	+0.003%	$7.5M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.49	+0.015%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.90	−0.064%	$466K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.37	−0.001%	$5.5M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	745.36	−0.003%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.53	+0.021%	$12K	$436K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.44	+0.008%	$811	$8.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.97	−0.055%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.31	−0.009%	$108K	$311K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	745.38	long leg	$2.0M	$8K	10x
Nado META-PERP	+0.0029%	1h	744.77	−0.082%	$480K	$560K	20x	as long as short
QFEX META-USD	+0.0031%	1h	745.32	−0.008%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.55	+0.023%	$789K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.00	−0.051%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.63	+0.034%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.41	+0.004%	$177K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.04	−0.046%	$565K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.46	+0.011%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.22	−0.021%	$729K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	745.05	−0.045%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	746.06	+0.092%	$48K	$89K	10x	as long as short
Pacifica META	+0.0100%	1h	744.78	−0.080%	$25	$189	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.16	−0.030%	$1.6M	$715K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.72	−0.089%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.50	+0.016%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.29	−0.012%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.36	−0.003%	$644K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.51	+0.152%	$172K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0424%	1h	745.67	+0.039%	$33K	$105	20x	as long as short
Lighter META	+0.0456%	1h	745.66	+0.038%	$1.1M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0549%	1h	745.87	+0.066%	$81.2M	$129.7M	20x	as long as short
edgeX METAUSDC	+0.0621%	4h	745.42	+0.006%	$62K	$343K	10x	as long as short
Phoenix META	+0.0750%	1h	746.26	+0.118%	$797K	$1.5M	20x	as long as short