Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h +0.039%

Price spread now: Aftermath Perps against Phemex+0.006%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Aftermath Perps

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—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	746.58	0	get 0.0000% / 4h	3h 15m	$2.0M	$8K	10x
Short	Aftermath Perps METAUSD	746.63	0.0084	get 0.0010% / 1h	15m 49s	$52K	$82K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Phemex. 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 PhemexbpFee Aftermath PerpsbpOrdersPrice spread, now +0.006%Rate

Funding earned: $17.56
Price spread: +0.006% → 0.000%: $0.62
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$2.82
Costs to cover: 0.210%
Break-even: 8.1 days

Slippage unknown: Phemex: live order book, 3 min ago; Aftermath Perps: no order-book sample. 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 Phemex live order book, 3 min ago	1.00 bp	47.4 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath Perps: 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
BloFin META-USDT	−0.0120%	8h	746.35	−0.031%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0003%	1h	746.08	−0.067%	$482K	$554K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.67	+0.012%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.32	−0.035%	$554K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.67	+0.011%	$28.5M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.71	+0.017%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.52	−0.008%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.03	−0.074%	$380K	$5.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.53	−0.006%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.41	−0.023%	$12K	$452K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.63	+0.007%	$722	$8.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.97	−0.082%	$31K	$247K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.18	−0.054%	$106K	$303K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	746.58	long leg	$2.0M	$8K	10x
Bitget METAUSDT	+0.0025%	8h	746.48	−0.013%	$5.5M	$11.8M	100x	as long as short
Lighter RH META	+0.0032%	1h	746.80	+0.029%	$783K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.91	−0.090%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.55	−0.004%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.04	−0.072%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.49	−0.012%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.39	−0.159%	$787K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	746.43	−0.020%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	746.44	−0.019%	—	—	5x	as long as short
Aftermath Perps METAUSDshort	+0.0084%	1h	746.63	+0.006%	$52K	$82K	10x
Popdex METAUSDT	+0.0088%	1h	746.55	−0.004%	$180K	$200K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.60	+0.003%	$1.6M	$618K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.41	−0.157%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.33	−0.033%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.32	−0.035%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.72	−0.115%	$638K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.48	+0.254%	$173K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	746.42	−0.021%	$33K	$105	20x	as long as short
Lighter META	+0.0272%	1h	746.76	+0.024%	$867K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0320%	1h	746.77	+0.025%	$71.0M	$121.3M	20x	as long as short
edgeX METAUSDC	+0.0407%	4h	746.35	−0.031%	$62K	$338K	10x	as long as short
Phoenix META	+0.0633%	1h	747.26	+0.091%	$798K	$1.4M	20x	as long as short