META

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.2213%/8h= +242.4% APRnext payment +$2.77 per $10,000 · paid last 24h +0.084%

Price spread now: Phoenix against Hotstuff+0.082%607s7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Phoenix

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 airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$66 a day on $10k at the current rate, and Phoenix is 0.082% dearer against Hotstuff than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 607 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	Hotstuff META-PERP	742.40	−0.1600	get 0.0200% / 1h	48m 57s	$33K	$105	20x
Short	Phoenix META	743.01	0.0613	get 0.0077% / 1h	48m 57s	$793K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Hotstuff. 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 HotstuffbpFee PhoenixbpOrdersPrice spread, now +0.082%Rate

Funding earned: $464.82
Price spread: +0.082% → 0.000%: $8.22
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $461.04
Costs to cover: 0.120%
Break-even: 0.1 days

Slippage unknown: Hotstuff: no order-book sample; Phoenix: live order book, 2 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 2 min ago	2.56 bp	9.1 bp −$9	17.9 bp −$179	doesn't fit	doesn't fit

Hotstuff: 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 exchanges

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
Hotstuff META-PERPlong	−0.1600%	1h	742.40	long leg	$33K	$105	20x
BloFin META-USDT	−0.0113%	8h	740.93	−0.198%	$339K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.00	−0.189%	$492K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.64	−0.237%	$547K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.93	−0.198%	$25.8M	$192.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.57	−0.246%	$7.6M	$16.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.91	−0.201%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.72	−0.226%	$457K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.66	−0.234%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	741.83	−0.077%	$2.5M	$3.0M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	742.36	−0.005%	$12K	$432K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.88	−0.205%	$995	$7.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.22	−0.294%	$36K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.78	−0.218%	$107K	$299K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.49	−0.123%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	741.01	−0.187%	$860K	$2.8M	20x	as long as short
QFEX META-USD	+0.0038%	1h	740.88	−0.205%	$2.2M	$14.0M	10x	as long as short
Arcus META-USD	+0.0040%	1h	740.45	−0.263%	$111K	$284K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.26	−0.154%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.46	−0.261%	$558K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.78	−0.218%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.85	−0.343%	$702K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	740.56	−0.248%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	742.00	−0.054%	$644K	$7.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0074%	1h	741.52	−0.118%	$53K	$86K	10x	as long as short
Pacifica META	+0.0100%	1h	740.88	−0.205%	$605	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.90	−0.202%	$1.6M	$878K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.45	−0.128%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.95	−0.195%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.77	−0.219%	$267	—	10x	as long as short
Popdex METAUSDT	+0.0112%	1h	740.90	−0.202%	$178K	$201K	20x	as long as short
Nado META-PERP	+0.0126%	1h	740.34	−0.277%	$475K	$552K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.75	+0.182%	$168K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0288%	1h	740.68	−0.232%	$85.9M	$135.4M	20x	as long as short
Lighter META	+0.0384%	1h	741.06	−0.180%	$1.2M	$2.7M	20x	as long as short
Phoenix METAshort	+0.0613%	1h	743.01	+0.082%	$793K	$1.5M	20x
edgeX METAUSDC	+0.0833%	4h	742.11	−0.039%	$62K	$349K	10x	as long as short