Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.031%

Price spread now: Binance against Phemex−0.047%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$900.905% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$4 on $10k

Price spread, last 4 days (all we have)+0.037%+$4 · spread now −0.047%, 7d avg −0.015%

Together, before fees−0.008%−$1 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: Binance is 0.032% cheaper against Phemex than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	742.60	0	get 0.0000% / 4h	1h 26m	$2.0M	$8K	10x
Short	Binance METAUSDT	742.25	0	get 0.0000% / 8h	5h 26m	$27.4M	$179.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.047%Rate

Funding earned: $0
Price spread: −0.047% → −0.015%: −$3.24
Slippage, 4 orders: −$68.46
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$93.7
Costs to cover: 0.905%
Break-even: never at this rate

Slippage from Phemex: live order book, 1 min ago; Binance: live order book, 1 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, 1 min ago	1.21 bp	42.2 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	0.07 bp	6.0 bp −$6	12.9 bp −$129	42.1 bp −$4,214	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	742.22	−0.051%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0027%	1h	741.43	−0.158%	$479K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	−0.114%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.98	−0.083%	$548K	$2.7M	17x	as long as short
Binance METAUSDTshort	0.0000%	8h	742.25	−0.047%	$27.4M	$179.2M	20x
Bybit METAUSDT	0.0000%	8h	741.98	−0.083%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.25	−0.047%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.85	−0.101%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.03	−0.077%	$5.5M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	742.15	−0.061%	$2.3M	$3.1M	—	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	742.16	−0.060%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.39	−0.028%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.95	−0.088%	$106K	$296K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	742.60	long leg	$2.0M	$8K	10x
Deribit META_USDC-PERPETUAL	+0.0020%	1h	741.58	−0.137%	$31K	$245K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.20	−0.054%	$764K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.93	−0.090%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.64	−0.129%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.25	−0.047%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.23	−0.050%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.94	−0.089%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.18	−0.057%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.34	−0.170%	$703K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	742.09	−0.068%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.63	+0.004%	$50K	$82K	10x	as long as short
edgeX METAUSDC	+0.0086%	4h	742.47	−0.018%	$62K	$334K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.03	−0.077%	$624K	$7.2M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.19	−0.055%	$1.6M	$519K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.72	−0.119%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.04	−0.075%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.91	−0.093%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.40	−0.162%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0248%	1h	742.12	−0.065%	$33K	$105	20x	as long as short
Lighter META	+0.0264%	1h	742.15	−0.061%	$861K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0345%	1h	742.21	−0.053%	$69.2M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	743.31	+0.096%	$544K	$1.1M	20x	as long as short