Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Phemex−0.094%77s7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as 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−$1441.440% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now −0.094%, 7d avg −0.074%

Together, before fees+0.146%+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.074%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 77 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	Phemex METAUSDT	747.25	0	get 0.0000% / 4h	6m 03s	$2.0M	$8K	10x
Short	ApeX Omni METAUSDT	746.55	0.0100	get 0.0013% / 1h	6m 03s	$167K	$71K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.094%Rate

Funding earned: $21
Price spread: −0.094% → −0.074%: −$1.93
Slippage, 4 orders: −$121.99
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$124.92
Costs to cover: 1.440%
Break-even: 48.6 days

Slippage from Phemex: live order book, 2 min ago; ApeX Omni: live order book, 30 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 Phemex live order book, 2 min ago	1.61 bp	50.1 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 30 min ago	2.62 bp	23.7 bp −$24	614.1 bp −$6,141	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	746.81	−0.059%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.54	−0.095%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.40	−0.114%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.58	−0.090%	$25.4M	$189.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.80	−0.060%	$7.5M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.65	−0.080%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.25	−0.134%	$473K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.53	−0.096%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	747.21	−0.005%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.23	−0.003%	$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	746.58	−0.090%	$1K	$8.0M	20x	as long as short
HTX META-USDT	0.0000%	8h	746.28	−0.130%	$108K	$312K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	747.25	long leg	$2.0M	$8K	10x
Nado META-PERP	+0.0015%	1h	746.02	−0.165%	$481K	$561K	20x	as long as short
QFEX META-USD	+0.0031%	1h	746.53	−0.096%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0040%	1h	746.82	−0.058%	$797K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.60	−0.087%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.11	−0.019%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.28	−0.130%	$568K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.53	−0.096%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.25	−0.134%	$734K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	746.47	−0.104%	—	—	5x	as long as short
Deribit META_USDC-PERPETUAL	+0.0058%	1h	746.16	−0.146%	$34K	$276K	10x	as long as short
Popdex METAUSDT	+0.0072%	1h	746.59	−0.088%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.44	+0.026%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	746.78	−0.063%	$633	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.82	−0.058%	$1.6M	$728K	20x	as long as short
ApeX Omni METAUSDTshort	+0.0100%	1h	746.55	−0.094%	$167K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.65	−0.080%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.51	−0.099%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.79	−0.062%	$651K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.54	+0.306%	$177K	$51K	30x	as long as short
Lighter META	+0.0448%	1h	746.95	−0.040%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	747.03	−0.029%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0564%	1h	747.05	−0.027%	$83.6M	$131.7M	20x	as long as short
Phoenix META	+0.0750%	1h	747.82	+0.076%	$798K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0931%	4h	747.28	+0.004%	$62K	$344K	10x	as long as short