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 +0.001%

Price spread now: Gate against Phemex−0.086%7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$125as in the Price arb table

costs, in and out, $10k−$1251.253% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.073%−$7 · spread now −0.086%, 7d avg −0.088%

Together, before fees−0.072%−$7 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	740.46	0	get 0.0000% / 4h	3h 48m	$2.0M	$7K	10x
Short	Gate META_USDT	739.82	0	get 0.0000% / 8h	7h 48m	$357K	$5.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.086%Rate

Funding earned: $0
Price spread: −0.086% → −0.088%: $0.16
Slippage, 4 orders: −$98.34
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$125.18
Costs to cover: 1.253%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Gate: 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, 5 min ago	1.89 bp	47.2 bp −$47	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	5.61 bp	14.8 bp −$15	33.9 bp −$339	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	740.33	−0.018%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.93	+0.063%	$463K	$546K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.17	−0.039%	$549K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.28	−0.024%	$27.4M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.27	−0.026%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.18	−0.038%	$6.0M	$13.2M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	739.82	−0.086%	$357K	$5.6M	100x
Bitget METAUSDT	0.0000%	8h	740.15	−0.042%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.73	−0.099%	$2.3M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.20	−0.035%	$12K	$486K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.16	−0.041%	$899	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.17	−0.039%	$106K	$292K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	740.46	long leg	$2.0M	$7K	10x
Nado META-PERP	+0.0029%	1h	739.75	−0.095%	$381K	$335K	20x	as long as short
Lighter RH META	+0.0032%	1h	740.51	+0.007%	$758K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.44	−0.003%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.10	−0.049%	$177K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.08	−0.051%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.16	−0.041%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.38	−0.146%	$735K	$4.3M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.12	−0.046%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	739.72	−0.100%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0069%	8h	740.09	−0.050%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.52	+0.009%	$49K	$77K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.39	−0.009%	$1.6M	$415K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.43	−0.139%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.27	−0.026%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.17	−0.039%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0113%	1h	740.16	−0.041%	$67.7M	$121.2M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	739.59	−0.117%	$601K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0152%	1h	740.01	−0.061%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.93	+0.199%	$169K	$46K	30x	as long as short
Deribit META_USDC-PERPETUAL	+0.0223%	1h	740.18	−0.038%	$30K	$253K	10x	as long as short
Lighter META	+0.0256%	1h	740.58	+0.016%	$856K	$2.4M	20x	as long as short
Phoenix META	+0.0259%	1h	740.16	−0.041%	$277K	$930K	20x	as long as short
edgeX METAUSDC	+0.0474%	4h	740.08	−0.052%	$62K	$333K	10x	as long as short