Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: HTX against Phemex−0.024%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1051.050% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now −0.024%, 7d avg −0.047%

Together, before fees−0.021%−$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.023% dearer against Phemex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	745.84	0	get 0.0000% / 4h	2h 07m	$2.0M	$8K	10x
Short	HTX META-USDT	745.66	0	get 0.0000% / 8h	2h 07m	$106K	$305K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.024%Rate

Funding earned: $0
Price spread: −0.024% → −0.047%: $2.29
Slippage, 4 orders: −$81
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$102.72
Costs to cover: 1.050%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; HTX: live order book, 39 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, 5 min ago	1.54 bp	38.2 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 39 min ago	2.68 bp	8.7 bp −$9	14.2 bp −$142	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	745.61	−0.031%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.74	−0.014%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.81	−0.004%	$549K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.02	+0.025%	$27.7M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.88	+0.005%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.69	−0.020%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.32	−0.070%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.94	+0.013%	$5.5M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	745.86	+0.003%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.02	+0.024%	$12K	$440K	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	745.74	−0.013%	$772	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.39	−0.060%	$31K	$263K	10x	as long as short
HTX META-USDTshort	0.0000%	8h	745.66	−0.024%	$106K	$305K	30x
Phemex METAUSDTlong	0.0000%	4h	745.84	long leg	$2.0M	$8K	10x
Nado META-PERP	+0.0001%	1h	745.53	−0.042%	$482K	$557K	20x	as long as short
Lighter RH META	+0.0032%	1h	746.10	+0.035%	$775K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.03	−0.109%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.21	+0.050%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.57	−0.036%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.84	0.000%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.34	−0.067%	$586K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.68	−0.021%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.17	−0.090%	$748K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0068%	8h	745.76	−0.011%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	745.81	−0.004%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.83	−0.001%	$1.6M	$657K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.52	−0.043%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.85	+0.001%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.65	−0.026%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.40	−0.059%	$656K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.294%	$172K	$46K	30x	as long as short
Lighter META	+0.0296%	1h	746.17	+0.044%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	746.03	+0.025%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0450%	1h	746.36	+0.070%	$76.0M	$125.6M	20x	as long as short
Phoenix META	+0.0685%	1h	746.97	+0.152%	$798K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0903%	4h	745.78	−0.009%	$62K	$339K	10x	as long as short