Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Aster against Phemex−0.045%52s7-day average +0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$217as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2172.170% of the position

Long on Phemex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now −0.045%, 7d avg +0.042%

Together, before fees−0.033%+ Points / potential airdropAster: Stage 5 · farm board−$3 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: Aster is 0.087% cheaper against Phemex than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of +0.042%. The two prices were read 52 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	Phemex METAUSDT	745.07	0	get 0.0000% / 4h	3h 45m	$2.0M	$8K	10x
Short	Aster METAUSDT	744.73	0	get 0.0000% / 8h	3h 45m	$469K	$554K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.045%Rate

Funding earned: $0
Price spread: −0.045% → +0.042%: −$8.73
Slippage, 4 orders: −$197.02
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$225.75
Costs to cover: 2.170%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Aster: live order book, 7 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 Phemex live order book, 3 min ago	1.48 bp	44.8 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 7 min ago	13.36 bp	26.7 bp −$27	63.5 bp −$635	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	745.02	−0.007%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0017%	1h	744.72	−0.047%	$481K	$553K	20x	as long as short
Aster METAUSDTshort	0.0000%	8h	744.73	−0.045%	$469K	$554K	20x
Extended META_24_5-USD	0.0000%	1h	744.97	−0.013%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.18	+0.015%	$28.4M	$183.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.99	−0.011%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.15	+0.011%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.51	−0.075%	$364K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.17	+0.013%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.99	−0.010%	$2.4M	$3.2M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	743.99	−0.145%	$12K	$450K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.06	−0.001%	$781	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.71	−0.048%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.00	−0.009%	$106K	$302K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	745.07	long leg	$2.0M	$8K	10x
Lighter RH META	+0.0032%	1h	745.41	+0.046%	$782K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.39	−0.091%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.16	+0.012%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.16	+0.012%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.75	−0.043%	$586K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.07	0.000%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.20	−0.117%	$801K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	744.91	−0.021%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	745.31	+0.033%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0096%	8h	744.99	−0.011%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.81	−0.035%	$1.6M	$602K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.16	−0.122%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.25	+0.024%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.02	−0.007%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	744.02	−0.141%	$617K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.08	−0.133%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	745.22	+0.020%	$33K	$105	20x	as long as short
Lighter META	+0.0248%	1h	745.37	+0.040%	$864K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0333%	1h	745.23	+0.021%	$70.1M	$121.0M	20x	as long as short
Phoenix META	+0.0633%	1h	746.12	+0.141%	$768K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0979%	4h	744.81	−0.035%	$62K	$339K	10x	as long as short