Funding you earn now, next payment 09:00 UTC−0.0643%/8h= −70.4% APRpaid last 24h −0.089%
Price spread now: Aster against Phoenix−0.135%75s7-day average +0.074% · you buy dearer than you sell
Net, funding: paid 7d − costs−$137as 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−$970.975% of the position
Funding, last 7 days−0.398%−$40 on $10k
+Price spread, last 4 days (all we have)+0.280%+$28 · spread now −0.135%, 7d avg +0.074%
=Together, before fees−0.118%+ Points / potential airdropAster: Stage 5 · farm board−$12 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Aster is 0.209% cheaper against Phoenix than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.074%). Swap the legs. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.398% in total (about -20.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix META | 743.87 | 0.0643 | pay 0.0080% / 1h | 58m 07s | $794K | $1.5M | 20x |
| Short | Aster METAUSDT | 742.87 | 0 | get 0.0000% / 8h | 5h 58m | $493K | $628K | 20x |
Phoenix META
Aster METAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Aster against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$135.02
- Price spread: −0.135% → +0.074%
- −$20.89
- Slippage, 4 orders
- −$82.46
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Aster: 4 bp × 2 orders
- −$8
- Net
- −$253.38
- Costs to cover
- 0.975%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 3 min ago; Aster: live order book, 52 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 Phoenix live order book, 3 min ago | 2.29 bp | 8.8 bp −$9 | 17.0 bp −$170 | doesn't fit | doesn't fit |
| Sell Aster live order book, 52 min ago | 8.59 bp | 13.1 bp −$13 | 116.9 bp −$1,169 | doesn't fit | doesn't fit |
META on 37 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff META-PERP | −0.1600% | 1h | 742.40 | −0.198% | $33K | $105 | 20x | as long as short |
| BloFin META-USDT | −0.0120% | 8h | 742.75 | −0.151% | $339K | $1.1M | 20x | as long as short |
| Aster METAUSDTshort | 0.0000% | 8h | 742.87 | −0.135% | $493K | $628K | 20x | |
| Extended META_24_5-USD | 0.0000% | 1h | 742.12 | −0.236% | $548K | $3.3M | 17x | as long as short |
| Binance METAUSDT | 0.0000% | 8h | 742.36 | −0.203% | $26.0M | $192.4M | 20x | as long as short |
| Bybit METAUSDT | 0.0000% | 8h | 742.43 | −0.194% | $7.7M | $15.8M | 100x | as long as short |
| OKX META-USDT-SWAP | 0.0000% | 8h | 742.25 | −0.218% | $6.0M | $13.0M | 20x | as long as short |
| Gate META_USDT | 0.0000% | 8h | 741.94 | −0.259% | $454K | $6.3M | 100x | as long as short |
| Bitget METAUSDT | 0.0000% | 8h | 742.26 | −0.216% | $5.7M | $12.2M | 100x | as long as short |
| Variational Omni META | 0.0000% | 8h | 742.21 | −0.223% | $2.5M | $3.0M | — | as long as short |
Hotstuff META-PERP
BloFin META-USDT
Extended META_24_5-USD
Binance METAUSDT
Bybit METAUSDT
OKX META-USDT-SWAP
Gate META_USDT
Bitget METAUSDT
Variational Omni METAShow all 37 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT META_USDT_Perp | 0.0000% | 8h | 743.32 | −0.074% | $12K | $435K | 10x | as long as short |
| SunX META-USDT | 0.0000% | 8h | 742.68 | −0.160% | $763 | $7.3M | 20x | as long as short |
| HTX META-USDT | 0.0000% | 8h | 742.07 | −0.242% | $107K | $299K | 30x | as long as short |
| Phemex METAUSDT | 0.0000% | 4h | 742.98 | −0.120% | $2.0M | $8K | 10x | as long as short |
| Lighter RH META | +0.0032% | 1h | 742.46 | −0.190% | $840K | $2.8M | 20x | as long as short |
| QFEX META-USD | +0.0038% | 1h | 742.45 | −0.191% | $2.2M | $14.0M | 10x | as long as short |
| Arcus META-USD | +0.0040% | 1h | 742.18 | −0.227% | $111K | $284K | 10x | as long as short |
| Vest META-USD-PERP | +0.0046% | 1h | 742.69 | −0.159% | — | $11K | 25x | as long as short |
| Polymarket Perps META-USD | +0.0050% | 1h | 742.05 | −0.245% | $559K | $612K | 10x | as long as short |
| SoDEX META-USD | +0.0050% | 1h | 742.23 | −0.220% | $24K | $3K | 10x | as long as short |
| Ondo Perps META-USD.P | +0.0050% | 1h | 741.88 | −0.268% | $701K | $5.0M | 10x | as long as short |
| Paradex META-USD-PERP | +0.0053% | 8h | 742.27 | −0.216% | — | — | 5x | as long as short |
| Deribit META_USDC-PERPETUAL | +0.0060% | 1h | 741.95 | −0.258% | $36K | $257K | 10x | as long as short |
| Coinbase International META-PERP-INTX | +0.0064% | 1h | 742.16 | −0.230% | $661K | $7.7M | 10x | as long as short |
| Aftermath Perps METAUSD | +0.0073% | 1h | 742.82 | −0.141% | $53K | $78K | 10x | as long as short |
| Pacifica META | +0.0100% | 1h | 742.62 | −0.169% | $636 | $2K | 10x | as long as short |
| KuCoin METAUSDTM | +0.0100% | 8h | 742.40 | −0.198% | $1.6M | $861K | 20x | as long as short |
| ApeX Omni METAUSDT | +0.0100% | 1h | 741.94 | −0.259% | $166K | $71K | 50x | as long as short |
| Orderly PERP_META_USDC_mythos | +0.0100% | 8h | 742.34 | −0.206% | $1K | $24 | 10x | as long as short |
| Aevo META-PERP | +0.0104% | 1h | 742.19 | −0.226% | $267 | — | 10x | as long as short |
| Nado META-PERP | +0.0142% | 1h | 742.02 | −0.249% | $476K | $552K | 20x | as long as short |
| Popdex METAUSDT | +0.0168% | 1h | 742.43 | −0.194% | $179K | $201K | 20x | as long as short |
| Injective META/USDC PERP | +0.0220% | 1h | 742.93 | −0.126% | $168K | $61K | 30x | as long as short |
| tradeXYZ xyz:META | +0.0318% | 1h | 742.27 | −0.215% | $86.0M | $135.3M | 20x | as long as short |
| Lighter META | +0.0360% | 1h | 742.56 | −0.176% | $1.2M | $2.6M | 20x | as long as short |
| Phoenix METAlong | +0.0643% | 1h | 743.87 | long leg | $794K | $1.5M | 20x | |
| edgeX METAUSDC | +0.0758% | 4h | 742.34 | −0.205% | $62K | $350K | 10x | as long as short |
GRVT META_USDT_Perp
SunX META-USDT
HTX META-USDT
Phemex METAUSDT
Lighter RH META
QFEX META-USD
Arcus META-USD
Vest META-USD-PERP
Polymarket Perps META-USD
SoDEX META-USD
Ondo Perps META-USD.P
Paradex META-USD-PERP
Deribit META_USDC-PERPETUAL
Coinbase International META-PERP-INTX
Aftermath Perps METAUSD
Pacifica META
KuCoin METAUSDTM
ApeX Omni METAUSDT
Orderly PERP_META_USDC_mythos
Aevo META-PERP
Nado META-PERP
Popdex METAUSDT
Injective META/USDC PERP
tradeXYZ xyz:META
Lighter META
edgeX METAUSDC