Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Phemex−0.005%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$153as in the Funding arb table

Net, price: spread back to 7d avg − costs−$153as in the Price arb table

costs, in and out, $10k−$1531.530% of the position

Long on Phemex Short on SunX

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)−0.010%−$1 · spread now −0.005%, 7d avg −0.010%

Together, before fees−0.010%−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	743.46	0	get 0.0000% / 4h	18m 37s	$2.0M	$8K	10x
Short	SunX META-USDT	743.42	0	get 0.0000% / 8h	4h 18m	$672	$9.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.005%Rate

Funding earned: $0
Price spread: −0.005% → −0.010%: $0.47
Slippage, 4 orders: −$132.99
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$152.52
Costs to cover: 1.530%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; SunX: live order book, 10 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	0.54 bp	41.1 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	28.30 bp	32.3 bp −$32	61.8 bp −$618	doesn't fit	doesn't fit

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
BloFin META-USDT	−0.0120%	8h	743.99	+0.071%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0025%	1h	743.36	−0.013%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.56	+0.014%	$469K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.02	+0.076%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.18	+0.097%	$27.6M	$181.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.03	+0.077%	$7.6M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.12	+0.089%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.62	+0.022%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.00	+0.073%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.78	−0.092%	$2.4M	$3.1M	—	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	742.66	−0.108%	$12K	$440K	10x	as long as short
SunX META-USDTshort	0.0000%	8h	743.42	−0.005%	$672	$9.1M	20x
HTX META-USDT	0.0000%	8h	743.96	+0.067%	$106K	$296K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	743.46	long leg	$2.0M	$8K	10x
Lighter RH META	+0.0032%	1h	744.14	+0.091%	$772K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.79	+0.044%	$2.2M	$13.8M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.93	−0.071%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.14	+0.091%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.20	+0.100%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.76	+0.040%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.38	−0.011%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.57	+0.015%	$765K	$4.5M	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0059%	1h	743.49	+0.004%	$31K	$246K	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	743.97	+0.068%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	743.28	−0.024%	$52K	$83K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.67	+0.028%	$1.6M	$549K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.26	−0.161%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.96	+0.067%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.68	+0.030%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	742.88	−0.078%	$626K	$7.2M	10x	as long as short
edgeX METAUSDC	+0.0137%	4h	742.55	−0.123%	$62K	$336K	10x	as long as short
Hotstuff META-PERP	+0.0160%	1h	744.03	+0.077%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.66	−0.108%	$171K	$48K	30x	as long as short
Lighter META	+0.0248%	1h	744.09	+0.085%	$864K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0269%	1h	743.96	+0.067%	$69.5M	$120.5M	20x	as long as short
Phoenix META	+0.0591%	1h	743.61	+0.020%	$691K	$1.2M	20x	as long as short