Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0501%/8h= +54.8% APRpaid last 24h +0.038%

Price spread now: edgeX against Phoenix+0.001%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 3 days (all we have)+0.116%+$12 · spread now +0.001%, 7d avg +0.014%

Together, before fees+0.247%+ Points / potential airdropedgeX: Active · farm board+$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: +$15 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.131% in total (about 6.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix META	741.12	0.0065	pay 0.0008% / 1h	26m 53s	$291K	$791K	20x
Short	edgeX METAUSDC	741.12	0.0566	get 0.0283% / 4h	1h 26m	$62K	$332K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.001%Rate

Funding earned: $105.15
Price spread: +0.001% → +0.014%: −$1.34
Slippage, 4 orders: −$19.87
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $67.94
Costs to cover: 0.359%
Break-even: 2.5 days

Slippage from Phoenix: live order book, 56 min ago; edgeX: live order book, 56 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, 56 min ago	2.16 bp	8.2 bp −$8	15.8 bp −$158	doesn't fit	doesn't fit
Sell edgeX live order book, 56 min ago	5.13 bp	9.7 bp −$10	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
BloFin META-USDT	−0.0120%	8h	741.33	+0.028%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0085%	1h	741.30	+0.025%	$396K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	+0.086%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.19	+0.009%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.33	+0.028%	$27.0M	$178.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.32	+0.027%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.36	+0.032%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.76	−0.049%	$343K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.40	+0.038%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.62	−0.067%	$1.6M	$2.6M	—	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	741.30	+0.024%	$12K	$506K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.58	+0.062%	$909	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.41	+0.039%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.09	−0.004%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.39	+0.036%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	741.09	−0.004%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.68	+0.076%	$749K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.85	−0.036%	$111K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.80	+0.092%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.29	+0.023%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.34	+0.030%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.35	+0.031%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	741.17	+0.007%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.18	+0.008%	$639K	$4.1M	10x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	741.60	+0.065%	$48K	$64K	10x	as long as short
Lighter META	+0.0056%	1h	741.65	+0.072%	$862K	$2.5M	20x	as long as short
Hotstuff META-PERP	+0.0064%	1h	741.43	+0.042%	$33K	$105	20x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.91	−0.028%	$606K	$7.4M	10x	as long as short
Phoenix METAlong	+0.0065%	1h	741.12	long leg	$291K	$791K	20x
tradeXYZ xyz:META	+0.0095%	1h	741.49	+0.050%	$68.6M	$121.0M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.22	+0.013%	$1.6M	$363K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.02	−0.013%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.24	+0.016%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.14	+0.003%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.58	−0.073%	$169K	$46K	30x	as long as short
edgeX METAUSDCshort	+0.0566%	4h	741.12	+0.001%	$62K	$332K	10x