META

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0171%/8h= +18.8% APRnext payment +$0.21 per $10,000 · paid last 24h +0.031%

Price spread now: Phoenix against Hotstuff+0.134%53s7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Phoenix

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 airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phoenix is 0.134% dearer against Hotstuff than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff META-PERP	740.56	0.0088	pay 0.0011% / 1h	2m 25s	$33K	$105	20x
Short	Phoenix META	741.55	0.0259	get 0.0032% / 1h	2m 25s	$335K	$930K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Hotstuff. 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 HotstuffbpFee PhoenixbpOrdersPrice spread, now +0.134%Rate

Funding earned: $35.97
Price spread: +0.134% → 0.000%: $13.37
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $37.33
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Hotstuff: no order-book sample; Phoenix: live order book, 6 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 6 min ago	2.97 bp	10.1 bp −$10	20.6 bp −$206	doesn't fit	doesn't fit

Hotstuff: 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
Deribit META_USDC-PERPETUAL	−0.0142%	1h	739.98	−0.078%	$30K	$246K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	740.77	+0.028%	$326K	$1.1M	20x	as long as short
Nado META-PERP	−0.0098%	1h	740.42	−0.019%	$490K	$523K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.38	−0.025%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.24	−0.043%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.39	−0.023%	$27.4M	$179.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.59	+0.004%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.25	−0.042%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.31	−0.034%	$351K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.42	−0.019%	$5.6M	$11.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.83	+0.036%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.87	+0.042%	$13K	$453K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.67	+0.015%	$821	$9.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.20	−0.049%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.72	+0.022%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.67	+0.015%	$753K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.87	+0.042%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.43	−0.018%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.25	−0.042%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.41	−0.020%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.97	−0.080%	$686K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.20	−0.049%	$2.2M	$14.1M	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	740.50	−0.008%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	740.15	−0.055%	$110K	$331K	10x	as long as short
Aftermath Perps METAUSD	+0.0068%	1h	741.04	+0.065%	$48K	$80K	10x	as long as short
Hotstuff META-PERPlong	+0.0088%	1h	740.56	long leg	$33K	$105	20x
KuCoin METAUSDTM	+0.0100%	8h	740.73	+0.023%	$1.6M	$454K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.31	−0.034%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.43	−0.018%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.27	−0.040%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	740.19	−0.050%	$610K	$7.4M	10x	as long as short
tradeXYZ xyz:META	+0.0164%	1h	740.51	−0.007%	$67.9M	$121.1M	20x	as long as short
Lighter META	+0.0192%	1h	740.62	+0.008%	$857K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.98	+0.192%	$171K	$48K	30x	as long as short
Phoenix METAshort	+0.0259%	1h	741.55	+0.134%	$335K	$930K	20x
edgeX METAUSDC	+0.0394%	4h	740.15	−0.056%	$62K	$335K	10x	as long as short