Funding you earn now, next payment 04:00 UTC+0.0633%/8h= +69.3% APRpaid last 24h +0.041%
Price spread now: Phoenix against Variational Omni−0.098%114s7-day average −0.003% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.075%+$8 on $10k
+Price spread, last 7 days+0.170%+$17 · spread now −0.098%, 7d avg −0.003%
=Together, before fees+0.246%+ Points / potential airdropVariational Omni: Active · farm board+$25 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.095% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.098% now, against its 7-day average of −0.003%). If the spread goes back, that is −$10 on $10k: about 12 hours of funding at the current rate (+$19 a day). At the pace of the last 4 days (+0.075% in total) that is about 4.5 days. The two prices were read 114 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 4 days it paid 0.075% in total (about 7.8% 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 | Variational Omni META | 748.56 | 0 | get 0.0000% / 8h | 3h 09m | $2.4M | $3.2M | — |
| Short | Phoenix META | 747.82 | 0.0633 | get 0.0079% / 1h | 9m 38s | $798K | $1.4M | 20x |
Variational Omni META
Phoenix METAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Variational Omni. 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
- $132.93
- Price spread: −0.098% → −0.003%
- −$9.53
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $116.4
- Costs to cover
- 0.070%
- Break-even
- 0.9 days
Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Phoenix: live order book, 4 min ago. 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 Variational Omni RFQ quote, 5 min ago | 2.46 bp | doesn't fit | 28.5 bp −$285 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 4 min ago | 2.14 bp | 8.3 bp −$8 | 15.8 bp −$158 | 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 | 748.57 | +0.002% | $333K | $1.1M | 20x | as long as short |
| Nado META-PERP | −0.0002% | 1h | 747.60 | −0.128% | $483K | $556K | 20x | as long as short |
| Aster METAUSDT | 0.0000% | 8h | 747.67 | −0.118% | $493K | $577K | 20x | as long as short |
| Extended META_24_5-USD | 0.0000% | 1h | 747.78 | −0.103% | $548K | $2.7M | 17x | as long as short |
| Binance METAUSDT | 0.0000% | 8h | 748.01 | −0.074% | $28.6M | $182.4M | 20x | as long as short |
| Bybit METAUSDT | 0.0000% | 8h | 748.02 | −0.072% | $7.5M | $14.6M | 100x | as long as short |
| OKX META-USDT-SWAP | 0.0000% | 8h | 747.70 | −0.114% | $6.0M | $13.1M | 20x | as long as short |
| Gate META_USDT | 0.0000% | 8h | 747.60 | −0.128% | $381K | $5.8M | 100x | as long as short |
| Variational Omni METAlong | 0.0000% | 8h | 748.56 | long leg | $2.4M | $3.2M | — | |
| GRVT META_USDT_Perp | 0.0000% | 8h | 747.24 | −0.176% | $12K | $451K | 10x | as long as short |
BloFin META-USDT
Nado META-PERP
Aster METAUSDT
Extended META_24_5-USD
Binance METAUSDT
Bybit METAUSDT
OKX META-USDT-SWAP
Gate META_USDT
GRVT META_USDT_PerpShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX META-USDT | 0.0000% | 8h | 748.54 | −0.002% | $729 | $8.8M | 20x | as long as short |
| HTX META-USDT | 0.0000% | 8h | 748.35 | −0.028% | $107K | $304K | 30x | as long as short |
| Phemex METAUSDT | 0.0000% | 4h | 748.53 | −0.004% | $2.0M | $8K | 10x | as long as short |
| Deribit META_USDC-PERPETUAL | +0.0017% | 1h | 748.23 | −0.044% | $33K | $250K | 10x | as long as short |
| Lighter RH META | +0.0032% | 1h | 748.07 | −0.065% | $771K | $3.0M | 20x | as long as short |
| Arcus META-USD | +0.0040% | 1h | 747.61 | −0.126% | $111K | $331K | 10x | as long as short |
| Vest META-USD-PERP | +0.0046% | 1h | 749.03 | +0.063% | — | $11K | 25x | as long as short |
| Polymarket Perps META-USD | +0.0050% | 1h | 748.26 | −0.040% | $589K | $565K | 10x | as long as short |
| SoDEX META-USD | +0.0050% | 1h | 747.05 | −0.201% | $25K | $3K | 10x | as long as short |
| Ondo Perps META-USD.P | +0.0050% | 1h | 747.98 | −0.077% | $773K | $4.6M | 10x | as long as short |
| QFEX META-USD | +0.0058% | 1h | 748.02 | −0.072% | $2.2M | $13.8M | 10x | as long as short |
| Paradex META-USD-PERP | +0.0062% | 8h | 747.93 | −0.084% | — | — | 5x | as long as short |
| Bitget METAUSDT | +0.0077% | 8h | 747.94 | −0.082% | $5.5M | $11.9M | 100x | as long as short |
| Aftermath Perps METAUSD | +0.0083% | 1h | 748.09 | −0.063% | $52K | $82K | 10x | as long as short |
| Popdex METAUSDT | +0.0096% | 1h | 748.04 | −0.069% | $180K | $199K | 20x | as long as short |
| KuCoin METAUSDTM | +0.0100% | 8h | 747.76 | −0.106% | $1.6M | $622K | 20x | as long as short |
| ApeX Omni METAUSDT | +0.0100% | 1h | 746.51 | −0.273% | $167K | $71K | 50x | as long as short |
| Orderly PERP_META_USDC_mythos | +0.0100% | 8h | 748.61 | +0.007% | $1K | $24 | 10x | as long as short |
| Aevo META-PERP | +0.0104% | 1h | 748.46 | −0.013% | $269 | — | 10x | as long as short |
| Coinbase International META-PERP-INTX | +0.0128% | 1h | 748.05 | −0.068% | $661K | $7.6M | 10x | as long as short |
| Injective META/USDC PERP | +0.0220% | 1h | 746.71 | −0.247% | $172K | $48K | 30x | as long as short |
| Hotstuff META-PERP | +0.0240% | 1h | 748.60 | +0.006% | $33K | $105 | 20x | as long as short |
| Lighter META | +0.0280% | 1h | 748.10 | −0.061% | $883K | $2.4M | 20x | as long as short |
| tradeXYZ xyz:META | +0.0333% | 1h | 748.16 | −0.053% | $71.6M | $121.4M | 20x | as long as short |
| Phoenix METAshort | +0.0633% | 1h | 747.82 | −0.098% | $798K | $1.4M | 20x | |
| edgeX METAUSDC | +0.0737% | 4h | 747.08 | −0.197% | $62K | $337K | 10x | as long as short |
SunX META-USDT
HTX META-USDT
Phemex METAUSDT
Deribit META_USDC-PERPETUAL
Lighter RH META
Arcus META-USD
Vest META-USD-PERP
Polymarket Perps META-USD
SoDEX META-USD
Ondo Perps META-USD.P
QFEX META-USD
Paradex META-USD-PERP
Bitget METAUSDT
Aftermath Perps METAUSD
Popdex METAUSDT
KuCoin METAUSDTM
ApeX Omni METAUSDT
Orderly PERP_META_USDC_mythos
Aevo META-PERP
Coinbase International META-PERP-INTX
Injective META/USDC PERP
Hotstuff META-PERP
Lighter META
tradeXYZ xyz:META
edgeX METAUSDC