Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%

Price spread now: Phemex against Vest−0.020%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Vest Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.020% cheaper against Vest than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest META-USD-PERP	743.62	0.0046	pay 0.0006% / 1h	34m 52s	—	$12K	25x
Short	Phemex METAUSDT	743.47	0	get 0.0000% / 4h	3h 34m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Vest. 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 VestbpFee PhemexbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$9.59
Price spread: −0.020% → 0.000%: −$2.02
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$25.61
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Phemex: live order book, 3 min ago. Net counts fees only.

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 Vest no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	0.81 bp	45.8 bp −$46	doesn't fit	doesn't fit	doesn't fit

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	743.30	−0.043%	$334K	$1.1M	20x	as long as short
Nado META-PERP	−0.0014%	1h	743.06	−0.075%	$479K	$560K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.00	+0.051%	$488K	$603K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.08	−0.073%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.31	−0.041%	$25.8M	$191.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.42	−0.027%	$7.4M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.88	−0.100%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.00	−0.083%	$476K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.24	−0.051%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	743.29	−0.044%	$2.5M	$3.0M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	743.50	−0.016%	$12K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.19	−0.058%	$796	$7.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.00	−0.083%	$46K	$282K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.02	−0.081%	$107K	$312K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	743.47	−0.020%	$2.0M	$8K	10x
Lighter RH META	+0.0032%	1h	743.39	−0.031%	$793K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.20	−0.056%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.05	−0.077%	$112K	$337K	10x	as long as short
Vest META-USD-PERPlong	+0.0046%	1h	743.62	long leg	—	$12K	25x
Popdex METAUSDT	+0.0048%	1h	743.24	−0.051%	$180K	$204K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.89	−0.098%	$565K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.15	−0.063%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.83	−0.106%	$722K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	743.18	−0.059%	—	—	5x	as long as short
edgeX METAUSDC	+0.0079%	4h	743.33	−0.040%	$63K	$346K	10x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	743.87	+0.034%	$51K	$93K	10x	as long as short
Pacifica META	+0.0100%	1h	743.03	−0.079%	$626	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.45	−0.023%	$1.6M	$763K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.58	−0.140%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.34	−0.038%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.15	−0.064%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	742.98	−0.086%	$635K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.70	+0.280%	$176K	$52K	30x	as long as short
tradeXYZ xyz:META	+0.0284%	1h	743.25	−0.050%	$84.4M	$132.8M	20x	as long as short
Hotstuff META-PERP	+0.0288%	1h	743.49	−0.017%	$33K	$105	20x	as long as short
Lighter META	+0.0296%	1h	743.57	−0.007%	$1.2M	$2.9M	20x	as long as short
Phoenix META	+0.0791%	1h	744.37	+0.101%	$795K	$1.5M	20x	as long as short