Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against Phemex+0.003%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 SoDEX

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: +$2 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	743.99	0	get 0.0000% / 4h	9m 56s	$2.0M	$8K	10x
Short	SoDEX META-USD	744.01	0.0050	get 0.0006% / 1h	9m 56s	$25K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.003%Rate

Funding earned: $10.5
Price spread: +0.003% → 0.000%: $0.27
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$9.23
Costs to cover: 0.200%
Break-even: 13.2 days

Slippage unknown: Phemex: live order book, 3 min ago; SoDEX: 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	2.49 bp	44.1 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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	744.41	+0.056%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0006%	1h	743.63	−0.049%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.40	−0.080%	$468K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.81	−0.024%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.97	−0.003%	$28.4M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.12	+0.017%	$7.7M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.97	−0.003%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.47	−0.070%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.99	0.000%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	744.35	+0.048%	$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	+0.002%	$13K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.97	−0.003%	$934	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.96	−0.004%	$106K	$296K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	743.99	long leg	$2.0M	$8K	10x
Lighter RH META	+0.0032%	1h	744.13	+0.019%	$778K	$3.1M	20x	as long as short
QFEX META-USD	+0.0036%	1h	744.18	+0.026%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.75	−0.032%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.00	+0.001%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.68	−0.042%	$585K	$565K	10x	as long as short
SoDEX META-USDshort	+0.0050%	1h	744.01	+0.003%	$25K	$3K	10x
Ondo Perps META-USD.P	+0.0050%	1h	743.51	−0.065%	$823K	$4.6M	10x	as long as short
Popdex METAUSDT	+0.0056%	1h	744.33	+0.046%	$179K	$199K	20x	as long as short
Aftermath Perps METAUSD	+0.0081%	1h	744.62	+0.085%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0088%	8h	744.22	+0.030%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.12	+0.017%	$1.6M	$554K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.11	−0.118%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.16	+0.023%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.98	−0.001%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	−0.031%	$615K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0176%	1h	743.96	−0.004%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.67	+0.360%	$172K	$48K	30x	as long as short
Deribit META_USDC-PERPETUAL	+0.0221%	1h	743.63	−0.048%	$31K	$246K	10x	as long as short
Lighter META	+0.0280%	1h	744.12	+0.017%	$866K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0291%	1h	744.02	+0.004%	$69.7M	$120.8M	20x	as long as short
edgeX METAUSDC	+0.0485%	4h	743.87	−0.016%	$62K	$338K	10x	as long as short
Phoenix META	+0.0591%	1h	744.75	+0.102%	$709K	$1.2M	20x	as long as short