META

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0265%/8h= −29.0% APRnext payment −$0.33 per $10,000 · paid last 24h −0.024%

Price spread now: Popdex against Phoenix−0.092%7-day average +0.024% · 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−$41as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on Phoenix Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.543%+$54 · spread now −0.092%, 7d avg +0.024%

Together, before fees+0.530%+$53 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Popdex is 0.115% cheaper against Phoenix than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.024%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.013% in total (about -1.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.33 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	741.11	0.0313	pay 0.0039% / 1h	3m 12s	$464K	$1.1M	20x
Short	Popdex METAUSDT	740.43	0.0048	get 0.0006% / 1h	3m 12s	$176K	$197K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.092%Rate

Funding earned: −$55.65
Price spread: −0.092% → +0.024%: −$11.55
Slippage, 4 orders: −$15.99
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$96.59
Costs to cover: 0.294%
Break-even: never at this rate

Slippage from Phoenix: live order book, 5 min ago; Popdex: live order book, 1 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, 5 min ago	2.02 bp	8.0 bp −$8	15.1 bp −$151	doesn't fit	doesn't fit
Sell Popdex live order book, 1 min ago	0.54 bp	9.1 bp −$9	12.7 bp −$127	doesn't fit	doesn't fit

META on 35 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-PERP	−0.0114%	1h	740.17	−0.127%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.59	−0.070%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.13	−0.132%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.42	−0.093%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.27	−0.113%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.29	−0.111%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.17	−0.127%	$354K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.40	−0.096%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.47	−0.087%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.46	−0.088%	$12K	$432K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.22	−0.120%	$948	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.69	−0.192%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.18	−0.125%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.44	−0.090%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.40	−0.096%	$2.2M	$13.7M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.59	−0.070%	$761K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.00	−0.150%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.58	−0.072%	—	$11K	25x	as long as short
Popdex METAUSDTshort	+0.0048%	1h	740.43	−0.092%	$176K	$197K	20x
Polymarket Perps META-USD	+0.0050%	1h	740.14	−0.131%	$558K	$547K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.41	−0.094%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.94	−0.158%	$697K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	740.35	−0.103%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.84	−0.037%	$49K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.51	−0.081%	$1.6M	$496K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.73	−0.186%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.35	−0.103%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.20	−0.123%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	−0.061%	$609K	$7.1M	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.44	−0.090%	$33K	$105	20x	as long as short
Lighter META	+0.0144%	1h	740.54	−0.077%	$860K	$2.4M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.18	+0.144%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0241%	1h	740.36	−0.101%	$68.3M	$119.7M	20x	as long as short
Phoenix METAlong	+0.0313%	1h	741.11	long leg	$464K	$1.1M	20x
edgeX METAUSDC	+0.0925%	4h	740.30	−0.109%	$62K	$335K	10x	as long as short