Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against SunX−0.129%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$175as in the Price arb table

costs, in and out, $10k−$1611.607% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.138%+$14 · spread now −0.129%, 7d avg +0.011%

Together, before fees+0.138%+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.140% cheaper against SunX than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	744.24	0	get 0.0000% / 8h	2h 24m	$610	$8.4M	20x
Short	Phemex METAUSDT	743.28	0	get 0.0000% / 4h	2h 24m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SunX. 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 SunXbpFee PhemexbpOrdersPrice spread, now −0.129%Rate

Funding earned: $0
Price spread: −0.129% → +0.011%: −$14
Slippage, 4 orders: −$140.75
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$174.74
Costs to cover: 1.607%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; Phemex: 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 SunX live order book, 4 min ago	28.20 bp	32.2 bp −$32	61.2 bp −$612	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	2.36 bp	46.6 bp −$47	doesn't fit	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	744.02	−0.030%	$331K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.39	+0.020%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.62	−0.084%	$544K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.82	−0.056%	$27.7M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.74	−0.067%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.86	−0.051%	$6.0M	$12.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.29	−0.128%	$440K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.17	−0.009%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	743.94	−0.040%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.10	−0.153%	$12K	$442K	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-USDTlong	0.0000%	8h	744.24	long leg	$610	$8.4M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.42	−0.110%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.79	−0.060%	$106K	$306K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	743.28	−0.129%	$2.0M	$8K	10x
Nado META-PERP	+0.0022%	1h	743.82	−0.057%	$481K	$558K	20x	as long as short
Lighter RH META	+0.0032%	1h	743.93	−0.042%	$769K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.10	−0.153%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.37	+0.017%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	744.00	−0.032%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.08	−0.021%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.64	−0.081%	$585K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.75	−0.066%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.41	−0.112%	$736K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0076%	8h	744.00	−0.033%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	744.01	−0.030%	$51K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.60	−0.086%	$1.6M	$646K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.02	−0.164%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.84	−0.054%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.66	−0.077%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.58	−0.089%	$655K	$7.8M	10x	as long as short
edgeX METAUSDC	+0.0212%	4h	743.26	−0.132%	$62K	$339K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.90	+0.223%	$172K	$46K	30x	as long as short
Lighter META	+0.0320%	1h	744.05	−0.026%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	744.00	−0.032%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0440%	1h	744.25	+0.001%	$74.7M	$125.0M	20x	as long as short
Phoenix META	+0.0685%	1h	744.15	−0.012%	$795K	$1.4M	20x	as long as short