Funding you earn now, next payment 08:00 UTC−0.0574%/8h= −62.9% APRpaid last 24h −0.059%
Price spread now: Phemex against tradeXYZ−0.059%7-day average +0.052% · you buy dearer than you sell
Net, funding: paid 7d − costs−$135as in the Funding arb table
Net, price: spread back to 7d avg − costs−$126as in the Price arb table
costs, in and out, $10k−$1151.149% of the position
Funding, last 7 days−0.202%−$20 on $10k
+Price spread, last 4 days (all we have)+0.189%+$19 · spread now −0.059%, 7d avg +0.052%
=Together, before fees−0.013%+ Points / potential airdroptradeXYZ: Active · farm board−$1 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Phemex is 0.111% cheaper against tradeXYZ than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.052%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.202% in total (about -10.5% a year). A funding rate is set anew for every payment. 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 | tradeXYZ xyz:META | 745.96 | 0.0574 | pay 0.0072% / 1h | 31m 11s | $81.7M | $130.1M | 20x |
| Short | Phemex METAUSDT | 745.52 | 0 | get 0.0000% / 4h | 31m 11s | $2.0M | $8K | 10x |
tradeXYZ xyz:META
Phemex METAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against tradeXYZ. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$120.53
- Price spread: −0.059% → +0.052%
- −$11.09
- Slippage, 4 orders
- −$84.87
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$246.49
- Costs to cover
- 1.149%
- Break-even
- never at this rate
Slippage from tradeXYZ: live order book, 9 min ago; Phemex: live order book, 2 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 tradeXYZ live order book, 9 min ago | 0.54 bp | 10.2 bp −$10 | 11.3 bp −$113 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 2 min ago | 1.27 bp | 50.8 bp −$51 | doesn't fit | doesn't fit | doesn't fit |
META on 37 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 | 745.46 | −0.067% | $332K | $1.1M | 20x | as long as short |
| Aster METAUSDT | 0.0000% | 8h | 745.11 | −0.114% | $479K | $593K | 20x | as long as short |
| Extended META_24_5-USD | 0.0000% | 1h | 745.35 | −0.082% | $548K | $3.4M | 17x | as long as short |
| Binance METAUSDT | 0.0000% | 8h | 745.55 | −0.056% | $25.1M | $188.4M | 20x | as long as short |
| Bybit METAUSDT | 0.0000% | 8h | 745.25 | −0.095% | $7.5M | $15.3M | 100x | as long as short |
| OKX META-USDT-SWAP | 0.0000% | 8h | 745.43 | −0.071% | $6.0M | $12.7M | 20x | as long as short |
| Gate META_USDT | 0.0000% | 8h | 744.92 | −0.139% | $469K | $6.2M | 100x | as long as short |
| Bitget METAUSDT | 0.0000% | 8h | 745.51 | −0.060% | $5.5M | $12.3M | 100x | as long as short |
| Variational Omni META | 0.0000% | 8h | 745.45 | −0.068% | $2.4M | $3.1M | — | as long as short |
| GRVT META_USDT_Perp | 0.0000% | 8h | 745.78 | −0.025% | $12K | $436K | 10x | as long as short |
BloFin META-USDT
Aster METAUSDT
Extended META_24_5-USD
Binance METAUSDT
Bybit METAUSDT
OKX META-USDT-SWAP
Gate META_USDT
Bitget METAUSDT
Variational Omni META
GRVT META_USDT_PerpShow all 37 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX META-USDT | 0.0000% | 8h | 745.46 | −0.067% | $921 | $8.0M | 20x | as long as short |
| Deribit META_USDC-PERPETUAL | 0.0000% | 1h | 744.97 | −0.133% | $34K | $275K | 10x | as long as short |
| HTX META-USDT | 0.0000% | 8h | 745.20 | −0.102% | $108K | $311K | 30x | as long as short |
| Phemex METAUSDTshort | 0.0000% | 4h | 745.52 | −0.059% | $2.0M | $8K | 10x | |
| QFEX META-USD | +0.0031% | 1h | 745.48 | −0.064% | $2.2M | $14.0M | 10x | as long as short |
| Arcus META-USD | +0.0040% | 1h | 745.16 | −0.107% | $112K | $339K | 10x | as long as short |
| Nado META-PERP | +0.0043% | 1h | 745.20 | −0.102% | $480K | $560K | 20x | as long as short |
| Vest META-USD-PERP | +0.0046% | 1h | 745.74 | −0.029% | — | $12K | 25x | as long as short |
| Polymarket Perps META-USD | +0.0050% | 1h | 745.29 | −0.090% | $565K | $621K | 10x | as long as short |
| SoDEX META-USD | +0.0050% | 1h | 745.51 | −0.060% | $25K | $3K | 10x | as long as short |
| Ondo Perps META-USD.P | +0.0050% | 1h | 745.03 | −0.125% | $747K | $5.1M | 10x | as long as short |
| Paradex META-USD-PERP | +0.0055% | 8h | 745.62 | −0.045% | — | — | 5x | as long as short |
| Lighter RH META | +0.0064% | 1h | 745.85 | −0.015% | $790K | $3.1M | 20x | as long as short |
| Aftermath Perps METAUSD | +0.0087% | 1h | 746.16 | +0.027% | $48K | $90K | 10x | as long as short |
| Popdex METAUSDT | +0.0096% | 1h | 745.75 | −0.028% | $177K | $202K | 20x | as long as short |
| Pacifica META | +0.0100% | 1h | 745.70 | −0.035% | $25 | $189 | 10x | as long as short |
| KuCoin METAUSDTM | +0.0100% | 8h | 745.41 | −0.074% | $1.6M | $718K | 20x | as long as short |
| ApeX Omni METAUSDT | +0.0100% | 1h | 744.62 | −0.180% | $167K | $71K | 50x | as long as short |
| Orderly PERP_META_USDC_mythos | +0.0100% | 8h | 745.50 | −0.062% | $1K | $24 | 10x | as long as short |
| Aevo META-PERP | +0.0104% | 1h | 745.49 | −0.063% | $268 | — | 10x | as long as short |
| Coinbase International META-PERP-INTX | +0.0104% | 1h | 745.33 | −0.084% | $645K | $7.9M | 10x | as long as short |
| Injective META/USDC PERP | +0.0220% | 1h | 747.69 | +0.232% | $175K | $46K | 30x | as long as short |
| Lighter META | +0.0472% | 1h | 745.98 | +0.003% | $1.1M | $2.9M | 20x | as long as short |
| Hotstuff META-PERP | +0.0472% | 1h | 746.13 | +0.023% | $33K | $105 | 20x | as long as short |
| tradeXYZ xyz:METAlong | +0.0574% | 1h | 745.96 | long leg | $81.7M | $130.1M | 20x | |
| Phoenix META | +0.0750% | 1h | 746.81 | +0.114% | $797K | $1.5M | 20x | as long as short |
| edgeX METAUSDC | +0.0949% | 4h | 745.47 | −0.065% | $62K | $345K | 10x | as long as short |
SunX META-USDT
Deribit META_USDC-PERPETUAL
HTX META-USDT
QFEX META-USD
Arcus META-USD
Nado META-PERP
Vest META-USD-PERP
Polymarket Perps META-USD
SoDEX META-USD
Ondo Perps META-USD.P
Paradex META-USD-PERP
Lighter RH META
Aftermath Perps METAUSD
Popdex METAUSDT
Pacifica META
KuCoin METAUSDTM
ApeX Omni METAUSDT
Orderly PERP_META_USDC_mythos
Aevo META-PERP
Coinbase International META-PERP-INTX
Injective META/USDC PERP
Lighter META
Hotstuff META-PERP
Phoenix META
edgeX METAUSDC