META

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0213%/8h= +23.3% APRnext payment +$0.27 per $10,000 · paid last 24h +0.030%

Price spread now: Phoenix against ApeX Omni+0.184%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$480.477% of the position

Long on ApeX Omni Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.156%+$16 on $10k

Price spread, last 4 days (all we have)−0.467%−$47 · spread now +0.184%, 7d avg +0.024%

Together, before fees−0.311%−$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.159% dearer against ApeX Omni than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni METAUSDT	739.34	0.0100	pay 0.0013% / 1h	39m 58s	$166K	$71K	50x
Short	Phoenix META	740.70	0.0313	get 0.0039% / 1h	39m 58s	$381K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against ApeX Omni. 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 ApeX OmnibpFee PhoenixbpOrdersPrice spread, now +0.184%Rate

Funding earned: $44.73
Price spread: +0.184% → +0.024%: $15.95
Slippage, 4 orders: −$30.71
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $12.97
Costs to cover: 0.477%
Break-even: 5.0 days

Slippage from ApeX Omni: live order book, 26 min ago; Phoenix: 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 ApeX Omni live order book, 26 min ago	2.63 bp	15.4 bp −$15	379.5 bp −$3,795	doesn't fit	doesn't fit
Sell Phoenix live order book, 2 min ago	2.03 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
Deribit META_USDC-PERPETUAL	−0.0264%	1h	739.36	+0.003%	$31K	$244K	10x	as long as short
Nado META-PERP	−0.0146%	1h	739.78	+0.059%	$478K	$547K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	739.99	+0.088%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.68	+0.181%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.64	+0.040%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.78	+0.059%	$27.3M	$179.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.89	+0.074%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.71	+0.050%	$5.9M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.61	+0.037%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.06	+0.097%	$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	+0.053%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.13	+0.107%	$12K	$444K	10x	as long as short
SunX META-USDT	0.0000%	8h	739.93	+0.080%	$1K	$9.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.69	+0.047%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.05	+0.096%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	739.91	+0.077%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.14	+0.108%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.55	+0.028%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.32	+0.133%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.83	+0.066%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.71	+0.050%	$557K	$855K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.82	+0.065%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.24	−0.014%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	739.82	+0.065%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	740.46	+0.152%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.06	+0.097%	$1.6M	$469K	20x	as long as short
ApeX Omni METAUSDTlong	+0.0100%	1h	739.34	long leg	$166K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.85	+0.069%	$1K	$24	10x	as long as short
Lighter META	+0.0104%	1h	740.03	+0.093%	$855K	$2.4M	20x	as long as short
Aevo META-PERP	+0.0104%	1h	739.72	+0.052%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	739.45	+0.015%	$609K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0112%	1h	739.99	+0.088%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.58	+0.032%	$170K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0249%	1h	740.03	+0.093%	$68.3M	$120.5M	20x	as long as short
Phoenix METAshort	+0.0313%	1h	740.70	+0.184%	$381K	$1.1M	20x
edgeX METAUSDC	+0.0992%	4h	740.02	+0.092%	$62K	$334K	10x	as long as short