META

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0657%/8h= +72.0% APRnext payment +$0.82 per $10,000 · paid last 24h +0.064%

Price spread now: Phoenix against Nado+0.140%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$380.382% of the position

Long on Nado Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.180%+$18 on $10k

Price spread, last 4 days (all we have)−0.112%−$11 · spread now +0.140%, 7d avg +0.019%

Together, before fees+0.068%+ Points / potential airdropNado: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Phoenix is 0.121% dearer against Nado than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.019%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.180% in total (about 19.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.82 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado META-PERP	743.11	0.0027	pay 0.0003% / 1h	26m 43s	$480K	$558K	20x
Short	Phoenix META	744.15	0.0685	get 0.0086% / 1h	26m 43s	$795K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Nado. 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 NadobpFee PhoenixbpOrdersPrice spread, now +0.140%Rate

Funding earned: $138.06
Price spread: +0.140% → +0.019%: $12.08
Slippage, 4 orders: −$24.18
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $111.97
Costs to cover: 0.382%
Break-even: 1.3 days

Slippage from Nado: live order book, 21 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 Nado live order book, 21 min ago	0.60 bp	10.0 bp −$10	46.7 bp −$467	doesn't fit	doesn't fit
Sell Phoenix live order book, 2 min ago	2.42 bp	9.0 bp −$9	17.7 bp −$177	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	743.43	+0.043%	$331K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.57	+0.197%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.54	+0.058%	$544K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.83	+0.097%	$27.7M	$182.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.69	+0.078%	$7.4M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.99	+0.119%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.13	+0.003%	$440K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.15	+0.140%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	742.59	−0.070%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.10	−0.001%	$12K	$442K	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	743.63	+0.070%	$712	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.31	+0.027%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.51	+0.054%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.22	+0.015%	$2.0M	$8K	10x	as long as short
Nado META-PERPlong	+0.0027%	1h	743.11	long leg	$480K	$558K	20x
Lighter RH META	+0.0032%	1h	744.08	+0.131%	$769K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	742.86	−0.033%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.67	+0.076%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.25	+0.019%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.50	+0.053%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.12	+0.002%	$585K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.37	+0.035%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.14	+0.004%	$736K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0076%	8h	743.82	+0.096%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	743.58	+0.064%	$51K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.55	+0.059%	$1.6M	$643K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.39	−0.097%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.69	+0.078%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.55	+0.059%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.48	+0.050%	$658K	$7.7M	10x	as long as short
edgeX METAUSDC	+0.0135%	4h	743.17	+0.008%	$62K	$341K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.90	+0.376%	$172K	$46K	30x	as long as short
Lighter META	+0.0320%	1h	744.15	+0.140%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	743.66	+0.074%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0441%	1h	743.93	+0.111%	$74.7M	$124.8M	20x	as long as short
Phoenix METAshort	+0.0685%	1h	744.15	+0.140%	$795K	$1.4M	20x