Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0057%/8h= −6.2% APRpaid last 24h —

Price spread now: Phemex against Paradex+0.032%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Phemex is 0.032% dearer against Paradex than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex META-USD-PERP	740.17	0.0057	pay 0.0057% / 8h	6h 33m	—	—	5x
Short	Phemex METAUSDT	740.41	0	get 0.0000% / 4h	2h 33m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Paradex. 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 ParadexbpFee PhemexbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$11.87
Price spread: +0.032% → 0.000%: $3.24
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$24.63
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Phemex: live order book, 4 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 Paradex no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	1.82 bp	47.9 bp −$48	doesn't fit	doesn't fit	doesn't fit

Paradex: 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 35 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
Nado META-PERP	−0.0138%	1h	739.88	−0.039%	$478K	$546K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.75	+0.079%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.52	+0.048%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.72	+0.074%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.96	+0.107%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.78	+0.082%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.14	−0.004%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.65	+0.065%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.13	−0.005%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	739.97	−0.027%	$12K	$435K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.71	+0.073%	$678	$9.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.54	+0.050%	$105K	$296K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	740.41	+0.032%	$2.0M	$8K	10x
QFEX META-USD	+0.0025%	1h	740.14	−0.004%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.84	+0.091%	$751K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.77	−0.054%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.41	+0.032%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.42	+0.034%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.21	+0.005%	$558K	$855K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.31	+0.019%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.74	−0.058%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERPlong	+0.0057%	8h	740.17	long leg	—	—	5x
Aftermath Perps METAUSD	+0.0068%	1h	740.74	+0.077%	$49K	$80K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0074%	1h	740.49	+0.043%	$31K	$244K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.41	+0.032%	$1.6M	$478K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.45	−0.097%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.34	+0.023%	$1K	$24	10x	as long as short
Lighter META	+0.0104%	1h	740.76	+0.080%	$856K	$2.4M	20x	as long as short
Aevo META-PERP	+0.0104%	1h	740.25	+0.010%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.16	−0.001%	$610K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.34	+0.023%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0168%	4h	739.75	−0.057%	$62K	$335K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.56	−0.082%	$170K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0254%	1h	740.77	+0.081%	$68.3M	$120.3M	20x	as long as short
Phoenix META	+0.0313%	1h	740.68	+0.069%	$394K	$1.1M	20x	as long as short