Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0059%/8h= +6.4% APRpaid last 24h —

Price spread now: Paradex against Phemex−0.132%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 Paradex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.132% cheaper against Phemex than usual: you would sell low and buy high (spread −0.132% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 7.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	741.89	0	get 0.0000% / 4h	1h 46m	$2.0M	$8K	10x
Short	Paradex META-USD-PERP	740.91	0.0059	get 0.0059% / 8h	5h 46m	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.132%Rate

Funding earned: $12.37
Price spread: −0.132% → 0.000%: −$13.23
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$16.87
Costs to cover: 0.160%
Break-even: 16.5 days

Slippage unknown: Phemex: live order book, 2 min ago; Paradex: 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, 2 min ago	2.02 bp	48.2 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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 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	741.19	−0.094%	—	$1.1M	20x	as long as short
Nado META-PERP	−0.0032%	1h	740.59	−0.175%	$479K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.40	−0.065%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.02	−0.118%	$549K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.34	−0.074%	$27.3M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.20	−0.093%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.14	−0.101%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.86	−0.139%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.13	−0.102%	$5.4M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.74	−0.020%	$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	741.92	+0.004%	$13K	$432K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.03	−0.116%	$979	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.94	−0.128%	$106K	$296K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	741.89	long leg	$2.0M	$8K	10x
Lighter RH META	+0.0032%	1h	741.28	−0.082%	$763K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	741.10	−0.106%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	740.94	−0.128%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.65	−0.032%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.20	−0.093%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.21	−0.092%	$558K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.00	−0.120%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.41	−0.199%	$702K	$4.2M	10x	as long as short
Paradex META-USD-PERPshort	+0.0059%	8h	740.91	−0.132%	—	—	5x
Aftermath Perps METAUSD	+0.0074%	1h	741.82	−0.010%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	−0.009%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.49	−0.054%	$1.6M	$507K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.56	−0.179%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.37	−0.070%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.20	−0.092%	$267	—	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0182%	1h	740.88	−0.136%	$31K	$245K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.34	+0.195%	$171K	$48K	30x	as long as short
Lighter META	+0.0256%	1h	741.25	−0.086%	$860K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0264%	1h	741.30	−0.080%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0356%	1h	741.50	−0.053%	$69.0M	$120.0M	20x	as long as short
edgeX METAUSDC	+0.0423%	4h	741.61	−0.038%	$62K	$336K	10x	as long as short
Phoenix META	+0.0496%	1h	742.78	+0.120%	$500K	$1.1M	20x	as long as short