META

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0557%/8h= −61.0% APRnext payment −$0.70 per $10,000 · paid last 24h −0.051%

Price spread now: Coinbase International against Phoenix−0.196%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Phoenix Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.439%−$44 on $10k

Price spread, last 4 days (all we have)+0.262%+$26 · spread now −0.196%, 7d avg −0.093%

Together, before fees−0.177%−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Coinbase International is 0.103% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.093%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix META	744.89	0.0685	pay 0.0086% / 1h	15m 14s	$795K	$1.4M	20x
Short	Coinbase International META-PERP-INTX	743.43	0.0128	get 0.0016% / 1h	15m 14s	$654K	$7.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phoenix. 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 PhoenixbpFee Coinbase InternationalbpOrdersPrice spread, now −0.196%Rate

Funding earned: −$116.91
Price spread: −0.196% → −0.093%: −$10.31
Slippage, 4 orders: −$11.1
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$155.31
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from Phoenix: live order book, 3 min ago; Coinbase International: live order book, 4 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	0.27 bp	5.6 bp −$6	16.5 bp −$165	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	2.35 bp	8.5 bp −$8	11.3 bp −$113	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
Deribit META_USDC-PERPETUAL	−0.0207%	1h	743.50	−0.187%	$31K	$264K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	743.90	−0.133%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.17	−0.096%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.77	−0.150%	$544K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.97	−0.124%	$27.6M	$182.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.00	−0.119%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.94	−0.128%	$6.0M	$12.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.49	−0.188%	$440K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.05	−0.113%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	743.82	−0.143%	$2.4M	$3.2M	—	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	743.82	−0.144%	$12K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.02	−0.117%	$755	$8.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.77	−0.150%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.28	−0.082%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0012%	1h	743.68	−0.162%	$481K	$558K	20x	as long as short
Lighter RH META	+0.0032%	1h	744.27	−0.083%	$761K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.45	−0.193%	$109K	$331K	10x	as long as short
edgeX METAUSDC	+0.0042%	4h	743.62	−0.170%	$62K	$341K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.40	−0.066%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.95	−0.126%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.99	−0.121%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.77	−0.150%	$585K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.98	−0.122%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.21	−0.226%	$745K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0071%	8h	743.87	−0.137%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	744.27	−0.083%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.94	−0.128%	$1.6M	$652K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.01	−0.252%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.94	−0.128%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.85	−0.140%	$268	—	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0128%	1h	743.43	−0.196%	$654K	$7.8M	10x
Injective META/USDC PERP	+0.0220%	1h	746.01	+0.150%	$172K	$46K	30x	as long as short
Lighter META	+0.0296%	1h	744.30	−0.079%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	744.36	−0.071%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0446%	1h	744.47	−0.056%	$75.4M	$125.4M	20x	as long as short
Phoenix METAlong	+0.0685%	1h	744.89	long leg	$795K	$1.4M	20x