Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.030%

Price spread now: Phemex against Polymarket Perps+0.044%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$990.988% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.134%−$13 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now +0.044%, 7d avg +0.045%

Together, before fees−0.063%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.045%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps META-USD	745.91	0.0050	pay 0.0006% / 1h	57m 39s	$587K	$567K	10x
Short	Phemex METAUSDT	746.24	0	get 0.0000% / 4h	1h 57m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Polymarket Perps. 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 Polymarket PerpsbpFee PhemexbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$10.5
Price spread: +0.044% → +0.045%: −$0.04
Slippage, 4 orders: −$78.79
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$109.33
Costs to cover: 0.988%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 50 min ago; Phemex: live order book, 6 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 Polymarket Perps live order book, 50 min ago	3.29 bp	8.6 bp −$9	8.8 bp −$88	9.9 bp −$989	doesn't fit
Sell Phemex live order book, 6 min ago	0.87 bp	39.1 bp −$39	doesn't fit	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	745.59	−0.043%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0074%	1h	745.54	−0.050%	$483K	$557K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.44	−0.063%	$480K	$592K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.62	−0.039%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.84	−0.009%	$27.6M	$184.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.67	−0.032%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.22	+0.042%	$6.1M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.32	−0.079%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.09	+0.024%	$5.5M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	745.29	−0.084%	$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	−0.069%	$12K	$439K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.12	+0.028%	$1K	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.75	−0.021%	$31K	$265K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.00	+0.012%	$106K	$306K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	746.24	+0.044%	$2.0M	$8K	10x
QFEX META-USD	+0.0031%	1h	745.59	−0.043%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	746.16	+0.034%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.38	−0.071%	$110K	$332K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.39	+0.064%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.93	+0.003%	$177K	$203K	20x	as long as short
Polymarket Perps META-USDlong	+0.0050%	1h	745.91	long leg	$587K	$567K	10x
SoDEX META-USD	+0.0050%	1h	746.10	+0.025%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.79	−0.016%	$716K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	745.72	−0.025%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.39	+0.064%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.66	−0.034%	$1.6M	$663K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.88	−0.138%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.10	+0.025%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.99	+0.011%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.35	−0.075%	$670K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.284%	$172K	$46K	30x	as long as short
Lighter META	+0.0280%	1h	746.25	+0.046%	$1.1M	$2.7M	20x	as long as short
tradeXYZ xyz:META	+0.0501%	1h	746.27	+0.048%	$76.5M	$126.3M	20x	as long as short
Hotstuff META-PERP	+0.0600%	1h	746.38	+0.063%	$33K	$105	20x	as long as short
Phoenix META	+0.0685%	1h	746.46	+0.074%	$797K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0887%	4h	745.56	−0.047%	$62K	$341K	10x	as long as short