Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Phemex against Gate+0.019%7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$1151.151% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.124%+$12 · spread now +0.019%, 7d avg +0.087%

Together, before fees+0.123%+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.068% cheaper against Gate than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.087%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate META_USDT	740.09	0	get 0.0000% / 8h	6h 15m	$352K	$5.6M	100x
Short	Phemex METAUSDT	740.23	0	get 0.0000% / 4h	2h 15m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Gate. 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 GatebpFee PhemexbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → +0.087%: −$6.85
Slippage, 4 orders: −$88.06
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$121.91
Costs to cover: 1.151%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Phemex: live order book, 3 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 Gate live order book, 3 min ago	4.80 bp	15.6 bp −$16	37.0 bp −$370	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	0.74 bp	37.0 bp −$37	doesn't fit	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0121%	1h	739.91	−0.025%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.64	+0.074%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.95	−0.019%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.12	+0.004%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.99	−0.014%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.25	+0.022%	$5.9M	$13.3M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	740.09	long leg	$352K	$5.6M	100x
Bitget METAUSDT	0.0000%	8h	740.28	+0.026%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.06	−0.004%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.16	+0.009%	$12K	$433K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	739.98	−0.015%	$887	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.42	−0.091%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.00	−0.012%	$105K	$296K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	740.23	+0.019%	$2.0M	$8K	10x
QFEX META-USD	+0.0025%	1h	740.03	−0.008%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.33	+0.032%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.74	−0.047%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.36	+0.036%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.15	+0.008%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.86	−0.031%	$557K	$701K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.12	+0.004%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.55	−0.073%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	739.89	−0.027%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	740.89	+0.108%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.15	+0.008%	$1.6M	$487K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.74	−0.047%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.09	0.000%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.97	−0.016%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.077%	$609K	$7.2M	10x	as long as short
Lighter META	+0.0136%	1h	740.27	+0.024%	$860K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0136%	1h	740.28	+0.026%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.42	+0.315%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0246%	1h	740.10	+0.001%	$68.3M	$120.0M	20x	as long as short
Phoenix META	+0.0313%	1h	740.85	+0.103%	$434K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0949%	4h	739.98	−0.015%	$62K	$336K	10x	as long as short