Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.014%

Price spread now: Vest against Phemex−0.035%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 Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Vest is 0.035% cheaper against Phemex than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	746.78	0	get 0.0000% / 4h	3h 21m	$2.0M	$8K	10x
Short	Vest META-USD-PERP	746.52	0.0046	get 0.0006% / 1h	21m 47s	—	$10K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.035%Rate

Funding earned: $9.59
Price spread: −0.035% → 0.000%: −$3.48
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$7.89
Costs to cover: 0.140%
Break-even: 12.8 days

Slippage unknown: Phemex: live order book, 2 min ago; Vest: 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	2.75 bp	40.8 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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
BloFin META-USDT	−0.0120%	8h	746.55	−0.031%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0004%	1h	746.16	−0.084%	$482K	$554K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.17	−0.082%	$470K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.21	−0.077%	$554K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.36	−0.056%	$28.5M	$182.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.49	−0.039%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.19	−0.079%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.92	−0.115%	$380K	$5.8M	100x	as long as short
Variational Omni META	0.0000%	8h	745.90	−0.118%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.70	−0.145%	$12K	$453K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.28	−0.067%	$802	$8.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.99	−0.106%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.29	−0.066%	$106K	$303K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	746.78	long leg	$2.0M	$8K	10x
Bitget METAUSDT	+0.0013%	8h	746.38	−0.054%	$5.5M	$11.8M	100x	as long as short
Lighter RH META	+0.0032%	1h	746.62	−0.021%	$783K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.75	−0.138%	$111K	$330K	10x	as long as short
Vest META-USD-PERPshort	+0.0046%	1h	746.52	−0.035%	—	$10K	25x
Polymarket Perps META-USD	+0.0050%	1h	745.97	−0.108%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.37	−0.055%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.98	−0.241%	$786K	$4.6M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	746.25	−0.071%	—	—	5x	as long as short
QFEX META-USD	+0.0058%	1h	746.30	−0.064%	$2.2M	$13.8M	10x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	746.35	−0.057%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.40	−0.051%	$1.6M	$617K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.69	−0.146%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.39	−0.052%	$1K	$24	10x	as long as short
Popdex METAUSDT	+0.0104%	1h	746.40	−0.051%	$179K	$200K	20x	as long as short
Aevo META-PERP	+0.0104%	1h	746.29	−0.066%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.64	−0.153%	$635K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.78	−0.268%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0224%	1h	746.30	−0.064%	$33K	$105	20x	as long as short
Lighter META	+0.0272%	1h	746.64	−0.019%	$867K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0312%	1h	746.41	−0.050%	$70.5M	$121.0M	20x	as long as short
Phoenix META	+0.0633%	1h	746.69	−0.012%	$797K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0637%	4h	746.10	−0.091%	$62K	$337K	10x	as long as short