Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h —

Price spread now: Phemex against Paradex+0.040%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Phemex is 0.040% dearer against Paradex than usual: you sell high and buy low (spread +0.040% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex META-USD-PERP	745.22	0.0064	pay 0.0064% / 8h	6h 57m	—	—	5x
Short	Phemex METAUSDT	745.52	0	get 0.0000% / 4h	2h 57m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Paradex. 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 ParadexbpFee PhemexbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$13.38
Price spread: +0.040% → 0.000%: $3.98
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$25.4
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Phemex: live order book, 1 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 Paradex no order-book sample	—	—	—	—	—
Sell Phemex live order book, 1 min ago	1.68 bp	48.4 bp −$48	doesn't fit	doesn't fit	doesn't fit

Paradex: 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 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	745.62	+0.053%	$335K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.03	−0.026%	$490K	$623K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.31	+0.011%	$546K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.51	+0.038%	$25.9M	$191.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.72	+0.067%	$7.7M	$15.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.57	+0.047%	$6.1M	$13.0M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.26	+0.005%	$448K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.34	+0.016%	$5.8M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	744.66	−0.076%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.78	−0.059%	$12K	$438K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.24	+0.002%	$719	$7.6M	20x	as long as short
HTX META-USDT	0.0000%	8h	745.44	+0.029%	$108K	$300K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	745.52	+0.040%	$2.0M	$8K	10x
Deribit META_USDC-PERPETUAL	+0.0019%	1h	745.05	−0.023%	$36K	$269K	10x	as long as short
Lighter RH META	+0.0032%	1h	745.55	+0.044%	$810K	$2.8M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.97	−0.034%	$111K	$324K	10x	as long as short
QFEX META-USD	+0.0041%	1h	745.40	+0.024%	$2.2M	$14.1M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.80	+0.077%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.48	+0.034%	$179K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.48	+0.034%	$567K	$609K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.53	+0.041%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.75	−0.063%	$719K	$5.0M	10x	as long as short
Paradex META-USD-PERPlong	+0.0064%	8h	745.22	long leg	—	—	5x
Aftermath Perps METAUSD	+0.0078%	1h	745.93	+0.095%	$51K	$91K	10x	as long as short
Nado META-PERP	+0.0085%	1h	744.95	−0.037%	$479K	$559K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	744.97	−0.034%	$642K	$7.8M	10x	as long as short
Pacifica META	+0.0100%	1h	744.89	−0.045%	$608	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.26	+0.005%	$1.6M	$801K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.70	−0.204%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.60	+0.051%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.45	+0.030%	$268	—	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	745.61	+0.052%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.33	+0.149%	$176K	$52K	30x	as long as short
Lighter META	+0.0288%	1h	745.69	+0.063%	$1.2M	$2.6M	20x	as long as short
tradeXYZ xyz:META	+0.0324%	1h	745.67	+0.060%	$86.4M	$134.7M	20x	as long as short
edgeX METAUSDC	+0.0330%	4h	745.61	+0.052%	$63K	$346K	10x	as long as short
Phoenix META	+0.0791%	1h	745.86	+0.085%	$796K	$1.5M	20x	as long as short