data as of
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Funding arb /

META

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Funding spread now, next payment 17:00 UTC+0.0005%/8h
next payment, per $10,000+$0.01paid, last 24h+0.014%paid, last 7 days+0.259%to open and close $10k−$34
Long on Polymarket PerpsShort on Phoenix
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPolymarket Perps META-USD734.740.0050pay 0.0006% / 1h46m 44s$666K$482K10x
ShortPhoenix META733.540.0055get 0.0007% / 1h46m 44s$251K$513K20x

Funding history

latest
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Funding on every exchange

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latest

Profit calculator

Funding earned
$1.03
Slippage, 4 orders
−$18.77
Fee Polymarket Perps: 4 bp × 2 orders
−$8
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
−$32.74
Break-even
230.3 days
Slippage from Polymarket Perps: live order book, 57 min ago; Phoenix: live order book, 56 min ago.

Price risk

price view
Price gap now
−0.163%
Avg gap 7d
−0.005%
A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Polymarket Perps live order book, 57 min ago1.17 bp6.5 bp −$78.3 bp −$8310.3 bp −$1,033doesn't fit
Sell Phoenix live order book, 56 min ago2.62 bp9.5 bp −$918.8 bp −$188doesn't fitdoesn't fit

META on 35 venues

lowest funding first. Swap a leg.
ExchangeFunding /8hEveryOIVol 24hMax lev
BloFin META-USDT−0.0120%8h$330K$646K20xas long as short
Phemex METAUSDT−0.0056%4h$1.9M$5K10xas long as short
Aster METAUSDT0.0000%8h$452K$126K20xas long as short
Extended META_24_5-USD0.0000%1h$542K$1.4M17xas long as short
Binance METAUSDT0.0000%8h$25.4M$121.1M20xas long as short
Bybit METAUSDT0.0000%8h$7.5M$9.4M100xas long as short
OKX META-USDT-SWAP0.0000%8h$5.9M$10.0M20xas long as short
Gate META_USDT0.0000%8h$345K$4.0M100xas long as short
Bitget METAUSDT0.0000%8h$5.5M$8.0M100xas long as short
Variational Omni META0.0000%8h$1.4M$2.2M—as long as short
Show all 35 venues
ExchangeFunding /8hEveryOIVol 24hMax lev
SunX META-USDT0.0000%8h$833$9.3M20xas long as short
HTX META-USDT0.0000%8h$104K$270K30xas long as short
Nado META-PERP+0.0001%1h$389K$172K20xas long as short
QFEX META-USD+0.0020%1h$1.8M$8.8M10xas long as short
Hotstuff META-PERP+0.0024%1h$33K$10520xas long as short
Lighter META+0.0032%1h$847K$2.4M20xas long as short
Lighter RH META+0.0032%1h$703K$2.6M20xas long as short
Deribit META_USDC-PERPETUAL+0.0036%1h$28K$266K10xas long as short
Vest META-USD-PERP+0.0046%1h—$8K25xas long as short
Popdex METAUSDT+0.0048%1h$178K$168K20xas long as short
Coinbase International META-PERP-INTX+0.0048%1h$640K$6.0M10xas long as short
tradeXYZ xyz:META+0.0050%1h$66.8M$54.7M20xas long as short
Polymarket Perps META-USDlong+0.0050%1h$666K$482K10x
SoDEX META-USD+0.0050%1h$24K$3K10xas long as short
Ondo Perps META-USD.P+0.0050%1h$759K$3.0M10xas long as short
Paradex META-USD-PERP+0.0051%8h——5xas long as short
Phoenix METAshort+0.0055%1h$251K$513K20x
edgeX METAUSDC+0.0091%4h$61K$327K10xas long as short
KuCoin METAUSDTM+0.0100%8h$1.5M$198K20xas long as short
ApeX Omni METAUSDT+0.0100%1h$135K$57K50xas long as short
Orderly PERP_META_USDC_mythos+0.0100%8h$1K—10xas long as short
Aevo META-PERP+0.0104%1h$265—10xas long as short
Injective META/USDC PERP+0.0220%1h$167K$101K30xas long as short
Aftermath Perps METAUSD+0.0268%1h$44K$47K10xas long as short
Arcus META-USD+0.0325%1h$270K$296K10xas long as short