META

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0808%/8h= −88.4% APRnext payment −$1.01 per $10,000 · paid last 24h −0.064%

Price spread now: Nado against Phoenix−0.055%57s7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.381% of the position

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.180%−$18 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.055%, 7d avg −0.019%

Together, before fees−0.153%+ Points / potential airdropNado: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Nado is 0.036% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.019%). Swap the legs. The two prices were read 57 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 3 days it paid -0.180% in total (about -19.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.01 per $10,000. 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	746.46	0.0685	pay 0.0086% / 1h	57m 46s	$797K	$1.4M	20x
Short	Nado META-PERP	746.05	−0.0123	pay 0.0015% / 1h	57m 46s	$483K	$557K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.055%Rate

Funding earned: −$169.59
Price spread: −0.055% → −0.019%: −$3.6
Slippage, 4 orders: −$24.13
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$211.32
Costs to cover: 0.381%
Break-even: never at this rate

Slippage from Phoenix: live order book, 1 min ago; Nado: live order book, 50 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, 1 min ago	2.41 bp	9.0 bp −$9	17.7 bp −$177	doesn't fit	doesn't fit
Sell Nado live order book, 50 min ago	0.60 bp	10.2 bp −$10	18.0 bp −$180	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
Nado META-PERPshort	−0.0123%	1h	746.05	−0.055%	$483K	$557K	20x
BloFin META-USDT	−0.0120%	8h	745.59	−0.117%	$331K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.50	−0.129%	$480K	$592K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.94	−0.069%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.79	−0.089%	$27.6M	$184.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.68	−0.104%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.22	−0.032%	$6.1M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.53	−0.125%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.20	−0.035%	$5.5M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	745.29	−0.157%	$2.4M	$3.3M	—	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	745.40	−0.143%	$12K	$439K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.12	−0.046%	$1K	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.75	−0.095%	$31K	$265K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.00	−0.062%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.24	−0.029%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	746.13	−0.044%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	746.16	−0.040%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.21	−0.167%	$110K	$332K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.39	−0.009%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.39	−0.009%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.91	−0.074%	$587K	$567K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.10	−0.048%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.06	−0.054%	$716K	$5.0M	10x	as long as short
edgeX METAUSDC	+0.0058%	4h	745.10	−0.182%	$62K	$342K	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	746.14	−0.043%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.39	−0.010%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.92	−0.072%	$1.6M	$663K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.88	−0.212%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.10	−0.048%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.99	−0.063%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.35	−0.149%	$670K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.210%	$172K	$46K	30x	as long as short
Lighter META	+0.0280%	1h	746.25	−0.028%	$1.1M	$2.7M	20x	as long as short
tradeXYZ xyz:META	+0.0501%	1h	746.27	−0.025%	$76.5M	$126.3M	20x	as long as short
Hotstuff META-PERP	+0.0600%	1h	746.38	−0.011%	$33K	$105	20x	as long as short
Phoenix METAlong	+0.0685%	1h	746.46	long leg	$797K	$1.4M	20x