Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0144%/8h= +15.8% APRpaid last 24h +0.009%

Price spread now: Coinbase International against Phemex−0.032%7-day average −0.136% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$1011.010% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.064%−$6 on $10k

Price spread, last 3 days (all we have)−0.065%−$6 · spread now −0.032%, 7d avg −0.136%

Together, before fees−0.129%−$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.103% dearer against Phemex than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.136%. Mind the row above: over the last 7 days funding on this pair cost −0.064%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	739.88	0	get 0.0000% / 4h	3h 24m	$2.0M	$8K	10x
Short	Coinbase International META-PERP-INTX	739.64	0.0144	get 0.0018% / 1h	24m 43s	$613K	$7.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.032%Rate

Funding earned: $30.24
Price spread: −0.032% → −0.136%: $10.33
Slippage, 4 orders: −$79.04
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$60.47
Costs to cover: 1.010%
Break-even: 21.0 days

Slippage from Phemex: live order book, 4 min ago; Coinbase International: live order book, 4 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, 4 min ago	1.22 bp	45.7 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	2.03 bp	7.8 bp −$8	10.9 bp −$109	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	739.77	−0.015%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0011%	1h	739.50	−0.051%	$422K	$382K	20x	as long as short
Aster METAUSDT	0.0000%	8h	739.73	−0.020%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.63	−0.034%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.63	−0.033%	$27.4M	$179.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.70	−0.024%	$7.6M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.62	−0.035%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.15	−0.099%	$352K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.48	−0.054%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.24	−0.086%	$2.3M	$3.3M	—	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	739.40	−0.064%	$12K	$471K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.33	+0.061%	$876	$9.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.25	−0.085%	$30K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	739.63	−0.034%	$104K	$295K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	739.88	long leg	$2.0M	$8K	10x
edgeX METAUSDC	+0.0007%	4h	739.30	−0.078%	$62K	$333K	10x	as long as short
Lighter RH META	+0.0032%	1h	739.76	−0.016%	$750K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	739.95	+0.009%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.79	−0.012%	$177K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.54	−0.046%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.72	−0.022%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	738.84	−0.141%	$676K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.69	−0.026%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	739.03	−0.115%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	739.63	−0.034%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	739.84	−0.005%	$48K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	739.76	−0.016%	$1.6M	$436K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.16	−0.097%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.77	−0.015%	$1K	$24	10x	as long as short
Hotstuff META-PERP	+0.0104%	1h	739.60	−0.038%	$33K	$105	20x	as long as short
Aevo META-PERP	+0.0104%	1h	739.63	−0.033%	$266	—	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0144%	1h	739.64	−0.032%	$613K	$7.3M	10x
tradeXYZ xyz:META	+0.0169%	1h	739.58	−0.041%	$67.5M	$121.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.90	+0.138%	$171K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	739.69	−0.026%	$851K	$2.5M	20x	as long as short
Phoenix META	+0.0259%	1h	739.71	−0.023%	$286K	$930K	20x	as long as short