Funding you earn now, next payment 04:00 UTC−0.0533%/8h= −58.4% APRpaid last 24h −0.038%
Price spread now: Orderly against Phoenix−0.309%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Orderly is 0.309% cheaper against Phoenix than usual: you would sell low and buy high (−$31 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix META | 748.29 | 0.0633 | pay 0.0079% / 1h | 54m 32s | $799K | $1.4M | 20x |
| Short | Orderly PERP_META_USDC_mythos | 745.98 | 0.0100 | get 0.0100% / 8h | 2h 54m | $1K | $24 | 10x |
Phoenix META
Orderly PERP_META_USDC_mythosFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$111.93
- Price spread: −0.309% → 0.000%
- −$30.87
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$155.8
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 4 min ago; Orderly: 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 Phoenix live order book, 4 min ago | 2.14 bp | 8.3 bp −$8 | 15.7 bp −$157 | doesn't fit | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | 746.09 | −0.294% | $333K | $1.1M | 20x | as long as short |
| Aster METAUSDT | 0.0000% | 8h | 746.62 | −0.224% | $492K | $577K | 20x | as long as short |
| Extended META_24_5-USD | 0.0000% | 1h | 745.98 | −0.308% | $548K | $2.7M | 17x | as long as short |
| Binance METAUSDT | 0.0000% | 8h | 746.21 | −0.277% | $28.4M | $181.6M | 20x | as long as short |
| Bybit METAUSDT | 0.0000% | 8h | 746.08 | −0.295% | $7.4M | $14.9M | 100x | as long as short |
| OKX META-USDT-SWAP | 0.0000% | 8h | 746.17 | −0.283% | $6.0M | $12.7M | 20x | as long as short |
| Gate META_USDT | 0.0000% | 8h | 745.73 | −0.342% | $430K | $5.9M | 100x | as long as short |
| Variational Omni META | 0.0000% | 8h | 746.09 | −0.293% | $2.4M | $3.2M | — | as long as short |
| GRVT META_USDT_Perp | 0.0000% | 8h | 746.62 | −0.223% | $12K | $446K | 10x | as long as short |
| SunX META-USDT | 0.0000% | 8h | 746.01 | −0.305% | $903 | $8.6M | 20x | as long as short |
BloFin META-USDT
Aster METAUSDT
Extended META_24_5-USD
Binance METAUSDT
Bybit METAUSDT
OKX META-USDT-SWAP
Gate META_USDT
Variational Omni META
GRVT META_USDT_Perp
SunX META-USDTShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit META_USDC-PERPETUAL | 0.0000% | 1h | 745.52 | −0.370% | $31K | $255K | 10x | as long as short |
| HTX META-USDT | 0.0000% | 8h | 745.95 | −0.313% | $106K | $305K | 30x | as long as short |
| Phemex METAUSDT | 0.0000% | 4h | 746.46 | −0.245% | $2.0M | $8K | 10x | as long as short |
| Arcus META-USD | +0.0040% | 1h | 746.02 | −0.303% | $111K | $331K | 10x | as long as short |
| Vest META-USD-PERP | +0.0046% | 1h | 746.29 | −0.267% | — | $11K | 25x | as long as short |
| QFEX META-USD | +0.0046% | 1h | 746.04 | −0.301% | $2.2M | $13.8M | 10x | as long as short |
| Lighter RH META | +0.0048% | 1h | 746.19 | −0.281% | $768K | $2.9M | 20x | as long as short |
| Nado META-PERP | +0.0049% | 1h | 745.47 | −0.378% | $482K | $557K | 20x | as long as short |
| Polymarket Perps META-USD | +0.0050% | 1h | 745.78 | −0.335% | $587K | $564K | 10x | as long as short |
| SoDEX META-USD | +0.0050% | 1h | 745.95 | −0.313% | $25K | $3K | 10x | as long as short |
| Ondo Perps META-USD.P | +0.0050% | 1h | 745.27 | −0.404% | $759K | $4.5M | 10x | as long as short |
| Paradex META-USD-PERP | +0.0069% | 8h | 745.96 | −0.311% | — | — | 5x | as long as short |
| Aftermath Perps METAUSD | +0.0085% | 1h | 746.88 | −0.188% | $52K | $82K | 10x | as long as short |
| Bitget METAUSDT | +0.0095% | 8h | 746.17 | −0.283% | $5.5M | $11.9M | 100x | as long as short |
| Popdex METAUSDT | +0.0096% | 1h | 746.21 | −0.278% | $179K | $199K | 20x | as long as short |
| KuCoin METAUSDTM | +0.0100% | 8h | 746.20 | −0.279% | $1.6M | $630K | 20x | as long as short |
| ApeX Omni METAUSDT | +0.0100% | 1h | 745.87 | −0.323% | $167K | $71K | 50x | as long as short |
| Orderly PERP_META_USDC_mythosshort | +0.0100% | 8h | 745.98 | −0.309% | $1K | $24 | 10x | |
| Aevo META-PERP | +0.0104% | 1h | 745.79 | −0.334% | $268 | — | 10x | as long as short |
| Coinbase International META-PERP-INTX | +0.0128% | 1h | 746.41 | −0.251% | $671K | $7.6M | 10x | as long as short |
| Injective META/USDC PERP | +0.0220% | 1h | 749.00 | +0.095% | $173K | $46K | 30x | as long as short |
| Lighter META | +0.0312% | 1h | 746.30 | −0.266% | $958K | $2.5M | 20x | as long as short |
| edgeX METAUSDC | +0.0383% | 4h | 746.75 | −0.206% | $62K | $338K | 10x | as long as short |
| Hotstuff META-PERP | +0.0440% | 1h | 746.25 | −0.273% | $33K | $105 | 20x | as long as short |
| tradeXYZ xyz:META | +0.0499% | 1h | 746.39 | −0.254% | $72.4M | $122.1M | 20x | as long as short |
| Phoenix METAlong | +0.0633% | 1h | 748.29 | long leg | $799K | $1.4M | 20x |
Deribit META_USDC-PERPETUAL
HTX META-USDT
Phemex METAUSDT
Arcus META-USD
Vest META-USD-PERP
QFEX META-USD
Lighter RH META
Nado META-PERP
Polymarket Perps META-USD
SoDEX META-USD
Ondo Perps META-USD.P
Paradex META-USD-PERP
Aftermath Perps METAUSD
Bitget METAUSDT
Popdex METAUSDT
KuCoin METAUSDTM
ApeX Omni METAUSDT
Aevo META-PERP
Coinbase International META-PERP-INTX
Injective META/USDC PERP
Lighter META
edgeX METAUSDC
Hotstuff META-PERP
tradeXYZ xyz:META