Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.014%

Price spread now: Vest against Phemex−0.046%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 Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Vest is 0.046% cheaper against Phemex than usual: you would sell low and buy high (spread −0.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 3.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	741.94	0	get 0.0000% / 4h	13m 21s	$2.0M	$7K	10x
Short	Vest META-USD-PERP	741.60	0.0046	get 0.0006% / 1h	13m 21s	—	$11K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.046%Rate

Funding earned: $9.59
Price spread: −0.046% → 0.000%: −$4.58
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$8.99
Costs to cover: 0.140%
Break-even: 13.6 days

Slippage unknown: Phemex: live order book, 5 min ago; Vest: 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, 5 min ago	1.48 bp	48.2 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: 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	741.71	−0.031%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0001%	1h	741.06	−0.118%	$385K	$332K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.75	−0.025%	$457K	$540K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.56	−0.051%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.70	−0.032%	$27.4M	$180.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.55	−0.053%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.53	−0.055%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.08	−0.116%	$344K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.47	−0.063%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.89	−0.007%	$2.3M	$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	741.81	−0.018%	$12K	$482K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.48	−0.062%	$744	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.49	−0.061%	$107K	$285K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	741.94	long leg	$2.0M	$7K	10x
QFEX META-USD	+0.0027%	1h	741.59	−0.047%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.90	−0.005%	$756K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.22	−0.097%	$110K	$454K	10x	as long as short
Vest META-USD-PERPshort	+0.0046%	1h	741.60	−0.046%	—	$11K	25x
Popdex METAUSDT	+0.0048%	1h	741.59	−0.047%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.53	−0.055%	$550K	$849K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.57	−0.050%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.07	−0.117%	$759K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	741.35	−0.079%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	742.32	+0.051%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.24	−0.094%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.57	−0.050%	$1.6M	$399K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.93	−0.136%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.52	−0.057%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.53	−0.055%	$267	—	10x	as long as short
Phoenix META	+0.0129%	1h	741.77	−0.023%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0168%	1h	741.55	−0.053%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.58	+0.221%	$169K	$46K	30x	as long as short
Lighter META	+0.0248%	1h	741.98	+0.005%	$860K	$2.6M	20x	as long as short
tradeXYZ xyz:META	+0.0263%	1h	741.60	−0.046%	$67.7M	$122.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0465%	1h	741.55	−0.053%	$30K	$258K	10x	as long as short
edgeX METAUSDC	+0.0727%	4h	741.69	−0.034%	$62K	$334K	10x	as long as short