META

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0129%/8h= −14.2% APRnext payment −$0.16 per $10,000 · paid last 24h +0.095%

Price spread now: Extended against Phoenix−0.066%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on Phoenix Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.215%−$21 on $10k

Price spread, last 3 days (all we have)+0.165%+$16 · spread now −0.066%, 7d avg −0.003%

Together, before fees−0.050%+ Points / potential airdropExtended: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Extended is 0.063% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.003%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix META	743.86	0.0129	pay 0.0016% / 1h	39m 02s	$293K	$797K	20x
Short	Extended META_24_5-USD	743.37	0	get 0.0000% / 1h	39m 02s	$549K	$1.6M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Phoenix. 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 PhoenixbpFee ExtendedbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$27.16
Price spread: −0.066% → −0.003%: −$6.29
Slippage, 4 orders: −$15.93
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$61.37
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from Phoenix: live order book, 39 min ago; Extended: live order book, 4 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 Phoenix live order book, 39 min ago	2.29 bp	8.5 bp −$8	16.4 bp −$164	doesn't fit	doesn't fit
Sell Extended live order book, 4 min ago	0.54 bp	5.5 bp −$5	35.9 bp −$359	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	743.43	−0.058%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0076%	1h	743.21	−0.088%	$392K	$329K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.50	−0.048%	$459K	$537K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	743.37	−0.066%	$549K	$1.6M	17x
Binance METAUSDT	0.0000%	8h	743.50	−0.048%	$27.4M	$179.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.57	−0.039%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.70	−0.022%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.04	−0.110%	$344K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.38	−0.065%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	743.32	−0.072%	$2.3M	$3.2M	—	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	743.64	−0.030%	$12K	$486K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.33	−0.071%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.17	−0.093%	$30K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.30	−0.075%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.51	−0.047%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	743.43	−0.058%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	743.79	−0.009%	$757K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.01	−0.114%	$110K	$472K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.85	−0.001%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.45	−0.055%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.44	−0.056%	$543K	$841K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.50	−0.048%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.93	−0.125%	$769K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	743.35	−0.069%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0062%	1h	744.22	+0.049%	$49K	$75K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	743.28	−0.078%	$610K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.44	−0.056%	$1.6M	$380K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.98	−0.118%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.43	−0.058%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.37	−0.066%	$268	—	10x	as long as short
Lighter META	+0.0128%	1h	743.71	−0.020%	$860K	$2.6M	20x	as long as short
Phoenix METAlong	+0.0129%	1h	743.86	long leg	$293K	$797K	20x
Hotstuff META-PERP	+0.0136%	1h	743.63	−0.031%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.83	+0.265%	$170K	$46K	30x	as long as short
tradeXYZ xyz:META	+0.0225%	1h	743.75	−0.015%	$67.7M	$122.3M	20x	as long as short
edgeX METAUSDC	+0.0710%	4h	743.35	−0.068%	$62K	$331K	10x	as long as short