Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.031%

Price spread now: Aevo against Phemex−0.033%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Aevo is 0.033% cheaper against Phemex than usual: you would sell low and buy high (spread −0.033% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 26 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	743.05	0	get 0.0000% / 4h	3h 17m	$2.0M	$8K	10x
Short	Aevo META-PERP	742.80	0.0104	get 0.0013% / 1h	17m 24s	$267	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now −0.033%Rate

Funding earned: $21.84
Price spread: −0.033% → 0.000%: −$3.34
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$9.5
Costs to cover: 0.280%
Break-even: 10.0 days

Slippage unknown: Phemex: live order book, 1 min ago; Aevo: no order-book sample. 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 Phemex live order book, 1 min ago	1.62 bp	49.9 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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	742.89	−0.022%	$337K	$1.1M	20x	as long as short
Nado META-PERP	0.0000%	1h	743.21	+0.022%	$478K	$560K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.00	+0.128%	$479K	$620K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.35	+0.040%	$544K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.78	+0.099%	$25.9M	$191.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.95	+0.121%	$7.5M	$15.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.11	+0.143%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.46	+0.055%	$472K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.79	+0.100%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	743.23	+0.024%	$2.5M	$3.0M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	742.98	−0.009%	$12K	$437K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.13	+0.011%	$794	$7.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.64	−0.055%	$36K	$270K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.75	−0.040%	$107K	$300K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	743.05	long leg	$2.0M	$8K	10x
Lighter RH META	+0.0032%	1h	743.54	+0.066%	$795K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.97	+0.124%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.47	+0.057%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.02	+0.131%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.93	+0.118%	$180K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.68	+0.085%	$566K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.91	−0.019%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.56	−0.066%	$741K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	743.65	+0.080%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0076%	1h	743.54	+0.066%	$51K	$92K	10x	as long as short
Pacifica META	+0.0100%	1h	743.06	+0.001%	$611	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.39	+0.046%	$1.6M	$781K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.75	−0.040%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.61	+0.075%	$1K	$24	10x	as long as short
Aevo META-PERPshort	+0.0104%	1h	742.80	−0.033%	$267	—	10x
Coinbase International META-PERP-INTX	+0.0120%	1h	742.52	−0.071%	$627K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.78	+0.233%	$176K	$52K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	743.25	+0.027%	$33K	$105	20x	as long as short
Lighter META	+0.0296%	1h	743.73	+0.092%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0299%	1h	743.88	+0.112%	$85.5M	$134.0M	20x	as long as short
edgeX METAUSDC	+0.0762%	4h	742.87	−0.025%	$63K	$348K	10x	as long as short
Phoenix META	+0.0791%	1h	743.95	+0.121%	$794K	$1.5M	20x	as long as short