Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against Aster+0.091%7-day average −0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs−$163as in the Price arb table

costs, in and out, $10k−$1761.759% of the position

Long on Aster Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.113%−$11 · spread now +0.091%, 7d avg −0.041%

Together, before fees−0.113%+ Points / potential airdropAster: Stage 5 · farm board−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.133% dearer against Aster than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster METAUSDT	746.57	0	get 0.0000% / 8h	4m 37s	$480K	$593K	20x
Short	Phemex METAUSDT	747.25	0	get 0.0000% / 4h	4m 37s	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aster. 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 AsterbpFee PhemexbpOrdersPrice spread, now +0.091%Rate

Funding earned: $0
Price spread: +0.091% → −0.041%: $13.25
Slippage, 4 orders: −$155.94
Fee Aster: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$162.69
Costs to cover: 1.759%
Break-even: never at this rate

Slippage from Aster: live order book, 33 min ago; Phemex: live order book, 4 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 Aster live order book, 33 min ago	13.36 bp	65.0 bp −$65	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.61 bp	41.1 bp −$41	doesn't fit	doesn't fit	doesn't fit

META on 37 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	746.67	+0.013%	$334K	$1.1M	20x	as long as short
Aster METAUSDTlong	0.0000%	8h	746.57	long leg	$480K	$593K	20x
Extended META_24_5-USD	0.0000%	1h	746.48	−0.012%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.76	+0.026%	$25.4M	$189.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.84	+0.036%	$7.6M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.23	+0.088%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.58	+0.001%	$473K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.83	+0.035%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	746.51	−0.007%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.79	+0.029%	$12K	$439K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.54	−0.004%	$929	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.23	−0.046%	$34K	$276K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.45	−0.016%	$108K	$311K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	747.25	+0.091%	$2.0M	$8K	10x
Nado META-PERP	+0.0015%	1h	746.22	−0.046%	$481K	$560K	20x	as long as short
QFEX META-USD	+0.0031%	1h	746.77	+0.027%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0040%	1h	747.00	+0.058%	$797K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.51	−0.008%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.26	+0.092%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.21	−0.048%	$567K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.55	−0.003%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.57	0.000%	$734K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	746.49	−0.011%	—	—	5x	as long as short
Popdex METAUSDT	+0.0072%	1h	747.04	+0.063%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.44	+0.117%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	747.06	+0.065%	$634	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.83	+0.035%	$1.6M	$729K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.01	−0.075%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.67	+0.013%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.47	−0.013%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.79	+0.029%	$651K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.54	+0.398%	$177K	$51K	30x	as long as short
Lighter META	+0.0448%	1h	747.14	+0.076%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	747.20	+0.084%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0471%	4h	746.62	+0.007%	$62K	$345K	10x	as long as short
tradeXYZ xyz:META	+0.0563%	1h	747.42	+0.114%	$83.7M	$131.7M	20x	as long as short
Phoenix META	+0.0750%	1h	747.82	+0.167%	$798K	$1.5M	20x	as long as short