Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.031%

Price spread now: Phemex against Aevo+0.044%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Phemex is 0.044% dearer against Aevo than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo META-PERP	739.72	0.0104	pay 0.0013% / 1h	40m 09s	$266	—	10x
Short	Phemex METAUSDT	740.05	0	get 0.0000% / 4h	2h 40m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$21.84
Price spread: +0.044% → 0.000%: $4.41
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$45.43
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: 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 Aevo no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	1.89 bp	49.9 bp −$50	doesn't fit	doesn't fit	doesn't fit

Aevo: 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 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
Deribit META_USDC-PERPETUAL	−0.0264%	1h	739.36	−0.049%	$31K	$244K	10x	as long as short
Nado META-PERP	−0.0146%	1h	739.78	+0.008%	$478K	$547K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	739.99	+0.036%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.67	+0.128%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.64	−0.012%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.84	+0.016%	$27.3M	$179.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.88	+0.021%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.71	−0.002%	$5.9M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.57	−0.021%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.06	+0.045%	$5.5M	$11.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	739.73	+0.001%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.13	+0.055%	$12K	$444K	10x	as long as short
SunX META-USDT	0.0000%	8h	739.93	+0.028%	$1K	$9.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.69	−0.005%	$105K	$296K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	740.05	+0.044%	$2.0M	$8K	10x
QFEX META-USD	+0.0025%	1h	739.91	+0.025%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.14	+0.056%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.55	−0.023%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.32	+0.081%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.83	+0.014%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.71	−0.002%	$557K	$855K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.82	+0.013%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.24	−0.065%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	739.82	+0.013%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	740.46	+0.100%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.06	+0.045%	$1.6M	$469K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.34	−0.052%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.85	+0.017%	$1K	$24	10x	as long as short
Lighter META	+0.0104%	1h	740.03	+0.041%	$855K	$2.4M	20x	as long as short
Aevo META-PERPlong	+0.0104%	1h	739.72	long leg	$266	—	10x
Coinbase International META-PERP-INTX	+0.0104%	1h	739.45	−0.037%	$609K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0112%	1h	739.99	+0.036%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.58	−0.019%	$170K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0250%	1h	739.99	+0.036%	$68.3M	$120.5M	20x	as long as short
Phoenix META	+0.0313%	1h	740.70	+0.132%	$381K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0992%	4h	740.02	+0.040%	$62K	$334K	10x	as long as short