Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: Phemex against Aevo+0.011%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo META-PERP	742.27	0.0104	pay 0.0013% / 1h	35m 32s	$267	—	10x
Short	Phemex METAUSDT	742.35	0	get 0.0000% / 4h	35m 32s	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$21.84
Price spread: +0.011% → 0.000%: $1.08
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$48.76
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Phemex: live order book, 3 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 Aevo no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	2.29 bp	45.2 bp −$45	doesn't fit	doesn't fit	doesn't fit

Aevo: 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	742.41	+0.019%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0032%	1h	741.90	−0.050%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.33	+0.008%	$466K	$551K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.31	+0.006%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.41	+0.019%	$27.5M	$180.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.22	−0.007%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.51	+0.032%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.18	−0.012%	$364K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.37	+0.013%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.38	+0.014%	$2.4M	$3.1M	—	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	742.46	+0.026%	$13K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.62	+0.047%	$901	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.90	−0.050%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.30	+0.004%	$106K	$296K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	742.35	+0.011%	$2.0M	$8K	10x
Lighter RH META	+0.0032%	1h	742.57	+0.040%	$768K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.37	+0.013%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.03	−0.032%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.43	+0.022%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.44	+0.023%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.10	−0.023%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.37	+0.013%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.77	−0.067%	$709K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0063%	8h	742.24	−0.005%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	743.15	+0.119%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.58	+0.042%	$1.6M	$541K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.70	−0.077%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.38	+0.015%	$1K	$24	10x	as long as short
Aevo META-PERPlong	+0.0104%	1h	742.27	long leg	$267	—	10x
Coinbase International META-PERP-INTX	+0.0104%	1h	742.02	−0.034%	$614K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0152%	1h	742.43	+0.022%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.47	+0.296%	$172K	$48K	30x	as long as short
Lighter META	+0.0240%	1h	742.53	+0.035%	$858K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0280%	1h	742.38	+0.015%	$69.4M	$120.3M	20x	as long as short
edgeX METAUSDC	+0.0398%	4h	742.31	+0.006%	$62K	$337K	10x	as long as short
Phoenix META	+0.0591%	1h	743.27	+0.135%	$656K	$1.2M	20x	as long as short