Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Gate against Phemex−0.069%49s7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$128as 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−$1281.278% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.184%−$18 · spread now −0.069%, 7d avg −0.087%

Together, before fees−0.183%−$18 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	743.90	0	get 0.0000% / 4h	12m 25s	$2.0M	$8K	10x
Short	Gate META_USDT	743.39	0	get 0.0000% / 8h	4h 12m	$365K	$5.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → −0.087%: $1.82
Slippage, 4 orders: −$100.77
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$125.94
Costs to cover: 1.278%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; Gate: live order book, 1 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, 1 min ago	2.49 bp	44.1 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	6.52 bp	16.5 bp −$17	32.5 bp −$325	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	743.99	+0.012%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0012%	1h	743.06	−0.112%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.20	−0.094%	$468K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.73	−0.023%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.10	+0.027%	$28.0M	$182.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.07	+0.023%	$7.6M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.75	−0.020%	$6.0M	$13.6M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	743.39	−0.069%	$365K	$5.7M	100x
Bitget METAUSDT	0.0000%	8h	744.01	+0.015%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	743.81	−0.012%	$2.4M	$3.1M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.01	+0.014%	$13K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.91	+0.001%	$848	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.94	+0.005%	$106K	$296K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	743.90	long leg	$2.0M	$8K	10x
Lighter RH META	+0.0032%	1h	743.77	−0.017%	$775K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.78	−0.016%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.56	−0.046%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.06	+0.022%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.11	+0.028%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.61	−0.039%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.91	+0.001%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.12	−0.105%	$800K	$4.5M	10x	as long as short
Paradex META-USD-PERP	+0.0079%	8h	743.70	−0.026%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0081%	1h	744.53	+0.085%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.86	−0.005%	$1.6M	$552K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.11	−0.106%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.98	+0.011%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.80	−0.013%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	−0.019%	$615K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0176%	1h	743.85	−0.007%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.67	+0.372%	$172K	$48K	30x	as long as short
Lighter META	+0.0264%	1h	743.76	−0.019%	$865K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0284%	1h	744.01	+0.015%	$69.7M	$120.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0329%	1h	743.58	−0.043%	$31K	$246K	10x	as long as short
edgeX METAUSDC	+0.0485%	4h	743.87	−0.004%	$62K	$338K	10x	as long as short
Phoenix META	+0.0591%	1h	744.70	+0.108%	$705K	$1.2M	20x	as long as short