Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%

Price spread now: Phemex against Vest+0.024%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Vest Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

The price spread pays, funding is against you. Phemex is 0.024% dearer against Vest than usual: you sell high and buy low (spread +0.024% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest META-USD-PERP	741.45	0.0046	pay 0.0006% / 1h	19m 45s	—	$11K	25x
Short	Phemex METAUSDT	741.63	0	get 0.0000% / 4h	19m 45s	$2.0M	$7K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Vest. 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 VestbpFee PhemexbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$9.59
Price spread: +0.024% → 0.000%: $2.43
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$21.17
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Phemex: 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 Vest no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	1.42 bp	36.9 bp −$37	doesn't fit	doesn't fit	doesn't fit

Vest: 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	741.47	+0.003%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0014%	1h	740.89	−0.075%	$389K	$330K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.87	+0.056%	$457K	$540K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.42	−0.004%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.56	+0.015%	$27.3M	$179.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.33	−0.016%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.50	+0.007%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.99	−0.062%	$345K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.54	+0.012%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.39	−0.007%	$2.3M	$3.2M	—	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	741.64	+0.026%	$13K	$481K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.28	−0.023%	$872	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.29	−0.022%	$107K	$285K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	741.63	+0.024%	$2.0M	$7K	10x
QFEX META-USD	+0.0027%	1h	741.36	−0.012%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.67	+0.030%	$756K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.12	−0.045%	$110K	$454K	10x	as long as short
Vest META-USD-PERPlong	+0.0046%	1h	741.45	long leg	—	$11K	25x
Popdex METAUSDT	+0.0048%	1h	741.46	+0.001%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.43	−0.003%	$550K	$849K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.45	0.000%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.81	−0.086%	$759K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0052%	8h	741.23	−0.030%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	742.05	+0.081%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.37	−0.011%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.54	+0.012%	$1.6M	$394K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.27	−0.024%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.40	−0.007%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.39	−0.008%	$267	—	10x	as long as short
Phoenix META	+0.0129%	1h	741.50	+0.007%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0160%	1h	741.37	−0.011%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.72	+0.306%	$169K	$46K	30x	as long as short
Lighter META	+0.0232%	1h	741.69	+0.032%	$856K	$2.6M	20x	as long as short
tradeXYZ xyz:META	+0.0260%	1h	741.49	+0.005%	$67.7M	$122.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0425%	1h	741.32	−0.018%	$30K	$258K	10x	as long as short
edgeX METAUSDC	+0.0716%	4h	741.42	−0.004%	$62K	$332K	10x	as long as short