Funding you earn now, next payment 05:00 UTC+0.0685%/8h= +75.0% APRpaid last 24h +0.071%
Price spread now: Phoenix against Gate+0.319%92s7-day average +0.044% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$480.481% of the position
Funding, last 7 days+0.375%+$37 on $10k
+Price spread, last 7 days−0.212%−$21 · spread now +0.319%, 7d avg +0.044%
=Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Phoenix is 0.276% dearer against Gate than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.044%. The two prices were read 92 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 7 days it paid 0.375% in total (about 19.5% 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 | Gate META_USDT | 744.96 | 0 | get 0.0000% / 8h | 2h 01m | $433K | $6.0M | 100x |
| Short | Phoenix META | 747.34 | 0.0685 | get 0.0086% / 1h | 1m 40s | $798K | $1.4M | 20x |
Gate META_USDT
Phoenix METAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Gate. 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
- $143.79
- Price spread: +0.319% → +0.044%
- $27.59
- Slippage, 4 orders
- −$26.08
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $123.3
- Costs to cover
- 0.481%
- Break-even
- 1.0 days
Slippage from Gate: live order book, 2 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 Gate live order book, 2 min ago | 4.76 bp | 14.7 bp −$15 | 28.1 bp −$281 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 2 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 | 745.68 | +0.097% | $329K | $1.1M | 20x | as long as short |
| Nado META-PERP | −0.0005% | 1h | 745.10 | +0.019% | $482K | $557K | 20x | as long as short |
| Aster METAUSDT | 0.0000% | 8h | 745.15 | +0.026% | $480K | $590K | 20x | as long as short |
| Extended META_24_5-USD | 0.0000% | 1h | 744.86 | −0.013% | $549K | $2.6M | 17x | as long as short |
| Binance METAUSDT | 0.0000% | 8h | 745.16 | +0.027% | $27.6M | $182.7M | 20x | as long as short |
| Bybit METAUSDT | 0.0000% | 8h | 745.19 | +0.031% | $7.3M | $15.1M | 100x | as long as short |
| OKX META-USDT-SWAP | 0.0000% | 8h | 745.40 | +0.059% | $6.1M | $12.5M | 20x | as long as short |
| Gate META_USDTlong | 0.0000% | 8h | 744.96 | long leg | $433K | $6.0M | 100x | |
| Bitget METAUSDT | 0.0000% | 8h | 745.29 | +0.044% | $5.5M | $12.1M | 100x | as long as short |
| Variational Omni META | 0.0000% | 8h | 746.12 | +0.156% | $2.4M | $3.3M | — | 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
Bitget METAUSDT
Variational Omni METAShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT META_USDT_Perp | 0.0000% | 8h | 746.23 | +0.170% | $12K | $440K | 10x | as long as short |
| SunX META-USDT | 0.0000% | 8h | 745.17 | +0.028% | $864 | $8.3M | 20x | as long as short |
| Deribit META_USDC-PERPETUAL | 0.0000% | 1h | 744.77 | −0.026% | $31K | $263K | 10x | as long as short |
| HTX META-USDT | 0.0000% | 8h | 745.15 | +0.026% | $106K | $306K | 30x | as long as short |
| Phemex METAUSDT | 0.0000% | 4h | 745.84 | +0.118% | $2.0M | $8K | 10x | as long as short |
| Lighter RH META | +0.0032% | 1h | 745.54 | +0.078% | $775K | $3.0M | 20x | as long as short |
| Arcus META-USD | +0.0040% | 1h | 745.29 | +0.044% | $110K | $332K | 10x | as long as short |
| Vest META-USD-PERP | +0.0046% | 1h | 745.75 | +0.106% | — | $11K | 25x | as long as short |
| QFEX META-USD | +0.0046% | 1h | 745.13 | +0.023% | $2.2M | $13.9M | 10x | as long as short |
| Popdex METAUSDT | +0.0048% | 1h | 745.37 | +0.055% | $178K | $200K | 20x | as long as short |
| Polymarket Perps META-USD | +0.0050% | 1h | 744.86 | −0.013% | $586K | $562K | 10x | as long as short |
| SoDEX META-USD | +0.0050% | 1h | 745.37 | +0.055% | $25K | $3K | 10x | as long as short |
| Ondo Perps META-USD.P | +0.0050% | 1h | 745.15 | +0.026% | $752K | $4.9M | 10x | as long as short |
| Paradex META-USD-PERP | +0.0066% | 8h | 745.10 | +0.019% | — | — | 5x | as long as short |
| Aftermath Perps METAUSD | +0.0084% | 1h | 746.11 | +0.154% | $52K | $81K | 10x | as long as short |
| KuCoin METAUSDTM | +0.0100% | 8h | 745.24 | +0.038% | $1.6M | $659K | 20x | as long as short |
| ApeX Omni METAUSDT | +0.0100% | 1h | 745.28 | +0.043% | $167K | $72K | 50x | as long as short |
| Orderly PERP_META_USDC_mythos | +0.0100% | 8h | 745.31 | +0.047% | $1K | $24 | 10x | as long as short |
| Aevo META-PERP | +0.0104% | 1h | 745.18 | +0.029% | $268 | — | 10x | as long as short |
| Coinbase International META-PERP-INTX | +0.0128% | 1h | 745.18 | +0.030% | $657K | $7.8M | 10x | as long as short |
| Injective META/USDC PERP | +0.0220% | 1h | 748.03 | +0.412% | $172K | $46K | 30x | as long as short |
| Lighter META | +0.0296% | 1h | 745.59 | +0.085% | $1.1M | $2.7M | 20x | as long as short |
| Hotstuff META-PERP | +0.0360% | 1h | 746.18 | +0.164% | $33K | $105 | 20x | as long as short |
| tradeXYZ xyz:META | +0.0453% | 1h | 745.61 | +0.087% | $76.3M | $125.9M | 20x | as long as short |
| edgeX METAUSDC | +0.0547% | 4h | 745.87 | +0.122% | $62K | $341K | 10x | as long as short |
| Phoenix METAshort | +0.0685% | 1h | 747.34 | +0.319% | $798K | $1.4M | 20x |
GRVT META_USDT_Perp
SunX META-USDT
Deribit META_USDC-PERPETUAL
HTX META-USDT
Phemex METAUSDT
Lighter RH META
Arcus META-USD
Vest META-USD-PERP
QFEX META-USD
Popdex METAUSDT
Polymarket Perps META-USD
SoDEX META-USD
Ondo Perps META-USD.P
Paradex META-USD-PERP
Aftermath Perps METAUSD
KuCoin METAUSDTM
ApeX Omni METAUSDT
Orderly PERP_META_USDC_mythos
Aevo META-PERP
Coinbase International META-PERP-INTX
Injective META/USDC PERP
Lighter META
Hotstuff META-PERP
tradeXYZ xyz:META
edgeX METAUSDC