Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.014%

Price spread now: Vest against Phemex−0.035%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Vest

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—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding pays, the price is against you. Vest is 0.035% cheaper against Phemex than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	744.24	0	get 0.0000% / 4h	10m 55s	$2.0M	$8K	10x
Short	Vest META-USD-PERP	743.98	0.0046	get 0.0006% / 1h	10m 55s	—	$10K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.035%Rate

Funding earned: $9.59
Price spread: −0.035% → 0.000%: −$3.49
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$7.9
Costs to cover: 0.140%
Break-even: 12.8 days

Slippage unknown: Phemex: live order book, 2 min ago; Vest: 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, 2 min ago	2.49 bp	44.1 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	+0.023%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0009%	1h	743.60	−0.086%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.64	−0.080%	$469K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.25	+0.002%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.44	+0.027%	$28.4M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.47	+0.031%	$7.7M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.23	−0.001%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.81	−0.058%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.43	+0.026%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	744.35	+0.014%	$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	−0.031%	$13K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.36	+0.016%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	744.33	+0.012%	$106K	$296K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	744.24	long leg	$2.0M	$8K	10x
Lighter RH META	+0.0032%	1h	744.35	+0.015%	$778K	$3.1M	20x	as long as short
QFEX META-USD	+0.0036%	1h	744.03	−0.028%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.65	−0.079%	$110K	$330K	10x	as long as short
Vest META-USD-PERPshort	+0.0046%	1h	743.98	−0.035%	—	$10K	25x
Popdex METAUSDT	+0.0048%	1h	744.48	+0.032%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.94	−0.040%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.27	+0.004%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.45	−0.106%	$823K	$4.6M	10x	as long as short
Aftermath Perps METAUSD	+0.0081%	1h	744.48	+0.033%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0084%	8h	744.20	−0.006%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.00	−0.032%	$1.6M	$553K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.11	−0.152%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.40	+0.021%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.22	−0.003%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	−0.064%	$615K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0176%	1h	743.96	−0.038%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.67	+0.327%	$172K	$48K	30x	as long as short
Lighter META	+0.0280%	1h	744.34	+0.013%	$866K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0289%	1h	744.30	+0.008%	$69.7M	$120.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0355%	1h	743.92	−0.043%	$31K	$246K	10x	as long as short
edgeX METAUSDC	+0.0485%	4h	743.87	−0.050%	$62K	$338K	10x	as long as short
Phoenix META	+0.0591%	1h	744.75	+0.069%	$709K	$1.2M	20x	as long as short