META

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0259%/8h= +28.4% APRnext payment +$0.32 per $10,000 · paid last 24h −0.093%

Price spread now: Phoenix against Extended+0.058%48s7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.268% of the position

Long on Extended Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.212%+$21 on $10k

Price spread, last 3 days (all we have)−0.157%−$16 · spread now +0.058%, 7d avg +0.003%

Together, before fees+0.056%+ Points / potential airdropExtended: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phoenix is 0.054% dearer against Extended than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.003%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended META_24_5-USD	739.70	0	get 0.0000% / 1h	50m 44s	$549K	$1.7M	17x
Short	Phoenix META	740.13	0.0259	get 0.0032% / 1h	50m 44s	$277K	$930K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Extended. 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 ExtendedbpFee PhoenixbpOrdersPrice spread, now +0.058%Rate

Funding earned: $54.45
Price spread: +0.058% → +0.003%: $5.45
Slippage, 4 orders: −$14.77
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $33.12
Costs to cover: 0.268%
Break-even: 2.7 days

Slippage from Extended: live order book, 3 min ago; Phoenix: live order book, 22 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 Extended live order book, 3 min ago	0.27 bp	5.4 bp −$5	39.9 bp −$399	doesn't fit	doesn't fit
Sell Phoenix live order book, 22 min ago	2.02 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
BloFin META-USDT	−0.0120%	8h	740.01	+0.041%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.83	+0.153%	$461K	$546K	20x	as long as short
Extended META_24_5-USDlong	0.0000%	1h	739.70	long leg	$549K	$1.7M	17x
Binance METAUSDT	0.0000%	8h	739.86	+0.021%	$27.4M	$179.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.93	+0.030%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.85	+0.020%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.45	−0.034%	$357K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.83	+0.017%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.73	+0.003%	$2.3M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.20	+0.067%	$12K	$486K	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-USDT	0.0000%	8h	739.70	−0.001%	$952	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.55	−0.021%	$106K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.85	+0.155%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0026%	1h	739.40	−0.042%	$384K	$334K	20x	as long as short
Lighter RH META	+0.0032%	1h	739.99	+0.039%	$757K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	739.93	+0.030%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.84	+0.018%	$177K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.54	−0.022%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.76	+0.007%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.07	−0.086%	$735K	$4.3M	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.72	+0.002%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	739.69	−0.002%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0070%	8h	739.62	−0.011%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	740.11	+0.055%	$49K	$77K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.03	+0.044%	$1.6M	$412K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.48	−0.030%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.83	+0.017%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.69	−0.002%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0114%	1h	739.60	−0.014%	$67.6M	$121.2M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	740.11	+0.055%	$602K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	739.57	−0.018%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.93	+0.301%	$169K	$46K	30x	as long as short
Lighter META	+0.0248%	1h	740.03	+0.044%	$856K	$2.4M	20x	as long as short
Phoenix METAshort	+0.0259%	1h	740.13	+0.058%	$277K	$930K	20x
Deribit META_USDC-PERPETUAL	+0.0345%	1h	739.78	+0.010%	$30K	$253K	10x	as long as short
edgeX METAUSDC	+0.0474%	4h	740.08	+0.050%	$62K	$333K	10x	as long as short