Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h —

Price spread now: Paradex against Phemex−0.068%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 Paradex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.068% cheaper against Phemex than usual: you would sell low and buy high (spread −0.068% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 4.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	746.01	0	get 0.0000% / 4h	1h 00m	$2.0M	$8K	10x
Short	Paradex META-USD-PERP	745.50	0.0056	get 0.0056% / 8h	1h 00m	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.068%Rate

Funding earned: $11.72
Price spread: −0.068% → 0.000%: −$6.81
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$11.08
Costs to cover: 0.160%
Break-even: 13.6 days

Slippage unknown: Phemex: live order book, 2 min ago; Paradex: 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, 2 min ago	2.08 bp	39.5 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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 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	745.84	−0.023%	$332K	$1.1M	20x	as long as short
Nado META-PERP	−0.0028%	1h	745.32	−0.093%	$481K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.58	−0.058%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.53	−0.064%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.71	−0.040%	$24.9M	$188.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.54	−0.063%	$7.4M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.59	−0.056%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.16	−0.114%	$463K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.69	−0.043%	$5.6M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	745.62	−0.052%	$2.4M	$3.1M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	745.66	−0.047%	$12K	$436K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.64	−0.050%	$811	$8.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	745.59	−0.056%	$106K	$309K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	746.01	long leg	$2.0M	$8K	10x
Deribit META_USDC-PERPETUAL	+0.0005%	1h	745.32	−0.092%	$34K	$275K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.54	−0.063%	$2.2M	$13.8M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.96	−0.007%	$789K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.29	−0.097%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.05	+0.005%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.77	−0.032%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.40	−0.082%	$565K	$597K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.70	−0.042%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.05	−0.129%	$696K	$5.1M	10x	as long as short
Paradex META-USD-PERPshort	+0.0056%	8h	745.50	−0.068%	—	—	5x
Aftermath Perps METAUSD	+0.0086%	1h	746.20	+0.026%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.46	−0.074%	$1.6M	$700K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.02	−0.133%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.70	−0.042%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.53	−0.064%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.25	−0.102%	$649K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.19	+0.158%	$172K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0376%	1h	746.01	0.000%	$33K	$105	20x	as long as short
Lighter META	+0.0392%	1h	746.19	+0.024%	$1.1M	$2.8M	20x	as long as short
tradeXYZ xyz:META	+0.0494%	1h	746.04	+0.004%	$78.7M	$128.3M	20x	as long as short
edgeX METAUSDC	+0.0528%	4h	745.48	−0.071%	$62K	$345K	10x	as long as short
Phoenix META	+0.0739%	1h	746.48	+0.063%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	745.36	−0.087%	$13	$106	10x	as long as short