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: HTX against Phemex−0.003%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1071.071% of the position

Long on Phemex Short on HTX

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)−0.038%−$4 · spread now −0.003%, 7d avg −0.046%

Together, before fees−0.038%−$4 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: HTX is 0.043% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	744.90	0	get 0.0000% / 4h	1h 27m	$2.0M	$8K	10x
Short	HTX META-USDT	744.88	0	get 0.0000% / 8h	1h 27m	$106K	$308K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.003%Rate

Funding earned: $0
Price spread: −0.003% → −0.046%: $4.32
Slippage, 4 orders: −$83.13
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$102.81
Costs to cover: 1.071%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; HTX: live order book, 15 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, 6 min ago	1.48 bp	48.4 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 15 min ago	2.68 bp	8.7 bp −$9	10.7 bp −$107	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
Deribit META_USDC-PERPETUAL	−0.0153%	1h	744.57	−0.044%	$34K	$275K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	744.93	+0.004%	$333K	$1.1M	20x	as long as short
Nado META-PERP	−0.0045%	1h	744.95	+0.007%	$482K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.39	+0.066%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.99	+0.012%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.15	+0.034%	$25.0M	$188.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.10	+0.027%	$7.3M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.30	+0.054%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.57	−0.044%	$460K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.17	+0.036%	$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	744.51	−0.052%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.76	−0.019%	$12K	$439K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.94	+0.005%	$608	$8.2M	20x	as long as short
HTX META-USDTshort	0.0000%	8h	744.88	−0.003%	$106K	$308K	30x
Phemex METAUSDTlong	0.0000%	4h	744.90	long leg	$2.0M	$8K	10x
QFEX META-USD	+0.0031%	1h	744.95	+0.007%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.53	+0.085%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.59	−0.042%	$112K	$340K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.67	+0.103%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.20	+0.040%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.89	−0.001%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.01	+0.015%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.58	−0.043%	$696K	$5.3M	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	745.10	+0.027%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.50	+0.080%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.08	+0.024%	$1.6M	$681K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.47	−0.058%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.99	+0.012%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.87	−0.004%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.50	−0.054%	$655K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.56	+0.223%	$172K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	745.68	+0.105%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	745.60	+0.094%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0412%	4h	744.66	−0.032%	$62K	$342K	10x	as long as short
tradeXYZ xyz:META	+0.0490%	1h	745.63	+0.098%	$77.6M	$127.7M	20x	as long as short
Phoenix META	+0.0739%	1h	746.25	+0.181%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	744.94	+0.005%	$13	$46	—	as long as short