META

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0639%/8h= +70.0% APRnext payment +$0.80 per $10,000 · paid last 24h +0.046%

Price spread now: Phoenix against ApeX Omni+0.260%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$680.676% of the position

Long on ApeX Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.171%+$17 on $10k

Price spread, last 4 days (all we have)−0.308%−$31 · spread now +0.260%, 7d avg +0.031%

Together, before fees−0.137%−$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Phoenix is 0.229% dearer against ApeX Omni than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.031%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.171% in total (about 8.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.80 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	ApeX Omni METAUSDT	745.61	0.0100	pay 0.0013% / 1h	51m 11s	$167K	$72K	50x
Short	Phoenix META	747.55	0.0739	get 0.0092% / 1h	51m 11s	$798K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against ApeX Omni. 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 ApeX OmnibpFee PhoenixbpOrdersPrice spread, now +0.260%Rate

Funding earned: $134.16
Price spread: +0.260% → +0.031%: $22.9
Slippage, 4 orders: −$50.58
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $89.47
Costs to cover: 0.676%
Break-even: 2.3 days

Slippage from ApeX Omni: live order book, 55 min ago; Phoenix: live order book, 2 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 ApeX Omni live order book, 55 min ago	2.62 bp	14.0 bp −$14	272.2 bp −$2,722	doesn't fit	doesn't fit
Sell Phoenix live order book, 2 min ago	2.94 bp	10.1 bp −$10	20.6 bp −$206	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	745.98	+0.050%	$332K	$1.1M	20x	as long as short
Nado META-PERP	−0.0044%	1h	745.55	−0.008%	$483K	$558K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.59	−0.003%	$479K	$592K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.85	+0.033%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.91	+0.040%	$27.0M	$184.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.91	+0.040%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.93	+0.043%	$6.1M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.32	−0.039%	$435K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.05	+0.059%	$5.5M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	745.55	−0.007%	$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	746.20	+0.079%	$12K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.74	+0.017%	$661	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.56	−0.007%	$31K	$266K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.54	−0.009%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.09	+0.064%	$2.0M	$8K	10x	as long as short
edgeX METAUSDC	+0.0003%	4h	745.95	+0.046%	$62K	$343K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.89	+0.038%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	746.15	+0.072%	$788K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.63	+0.003%	$110K	$332K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.29	+0.091%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.05	+0.059%	$178K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.64	+0.004%	$587K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.92	+0.042%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.77	+0.021%	$720K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	745.85	+0.033%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.77	+0.155%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.88	+0.036%	$1.6M	$666K	20x	as long as short
ApeX Omni METAUSDTlong	+0.0100%	1h	745.61	long leg	$167K	$72K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.96	+0.047%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.90	+0.039%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.35	−0.035%	$670K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	753.11	+1.006%	$174K	$46K	30x	as long as short
Lighter META	+0.0368%	1h	746.38	+0.103%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0496%	1h	746.58	+0.130%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0570%	1h	746.46	+0.114%	$76.7M	$126.7M	20x	as long as short
Phoenix METAshort	+0.0739%	1h	747.55	+0.260%	$798K	$1.5M	20x