META

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0211%/8h= +23.1% APRnext payment +$0.26 per $10,000 · paid last 24h +0.022%

Price spread now: Phoenix against Popdex−0.022%54s7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.249% of the position

Long on Popdex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.011%+$1 on $10k

Price spread, last 3 days (all we have)−0.102%−$10 · spread now −0.022%, 7d avg −0.025%

Together, before fees−0.091%−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.025%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.011% in total (about 1.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.26 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex METAUSDT	740.32	0.0048	pay 0.0006% / 1h	48m 17s	$178K	$194K	20x
Short	Phoenix META	740.16	0.0259	get 0.0032% / 1h	48m 17s	$277K	$930K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Popdex. 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 PopdexbpFee PhoenixbpOrdersPrice spread, now −0.022%Rate

Funding earned: $44.37
Price spread: −0.022% → −0.025%: $0.36
Slippage, 4 orders: −$11.46
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $19.86
Costs to cover: 0.249%
Break-even: 3.9 days

Slippage from Popdex: live order book, 25 min ago; Phoenix: live order book, 25 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 Popdex live order book, 25 min ago	0.40 bp	4.7 bp −$5	7.8 bp −$78	doesn't fit	doesn't fit
Sell Phoenix live order book, 25 min ago	2.02 bp	8.1 bp −$8	15.3 bp −$153	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	740.33	+0.001%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.93	+0.083%	$463K	$546K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.20	−0.016%	$549K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.34	+0.002%	$27.4M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.17	−0.020%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.18	−0.019%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.07	−0.034%	$357K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.21	−0.015%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.73	−0.080%	$2.3M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.20	−0.016%	$12K	$486K	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	740.28	−0.005%	$899	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.17	−0.020%	$106K	$292K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.46	+0.019%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0025%	1h	739.89	−0.058%	$382K	$335K	20x	as long as short
Lighter RH META	+0.0032%	1h	740.54	+0.030%	$758K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.50	+0.024%	—	$11K	25x	as long as short
Popdex METAUSDTlong	+0.0048%	1h	740.32	long leg	$178K	$194K	20x
Polymarket Perps META-USD	+0.0050%	1h	740.15	−0.023%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.20	−0.016%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.58	−0.100%	$735K	$4.3M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.26	−0.008%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	739.77	−0.074%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0069%	8h	740.15	−0.023%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.61	+0.039%	$50K	$77K	10x	as long as short
Hotstuff META-PERP	+0.0080%	1h	740.17	−0.020%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.39	+0.009%	$1.6M	$415K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.43	−0.120%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.37	+0.007%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.20	−0.016%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0111%	1h	740.12	−0.027%	$67.7M	$121.3M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	739.59	−0.099%	$601K	$7.3M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.93	+0.217%	$169K	$46K	30x	as long as short
Lighter META	+0.0256%	1h	740.62	+0.041%	$856K	$2.4M	20x	as long as short
Phoenix METAshort	+0.0259%	1h	740.16	−0.022%	$277K	$930K	20x
Deribit META_USDC-PERPETUAL	+0.0453%	1h	740.52	+0.027%	$30K	$253K	10x	as long as short
edgeX METAUSDC	+0.0474%	4h	740.08	−0.033%	$62K	$333K	10x	as long as short