META

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0040%/8h= +4.3% APRnext payment +$0.05 per $10,000 · paid last 24h −0.054%

Price spread now: Coinbase International against Phoenix+0.007%7-day average −0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on Phoenix Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.448%−$45 on $10k

Price spread, last 3 days (all we have)+0.402%+$40 · spread now +0.007%, 7d avg −0.094%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.101% dearer against Phoenix than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.094%. Mind the row above: over the last 7 days funding on this pair cost −0.448%, 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	Phoenix META	741.08	0.0032	pay 0.0004% / 1h	31m 13s	$303K	$774K	20x
Short	Coinbase International META-PERP-INTX	741.13	0.0072	get 0.0009% / 1h	31m 13s	$618K	$7.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phoenix. 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 PhoenixbpFee Coinbase InternationalbpOrdersPrice spread, now +0.007%Rate

Funding earned: $8.32
Price spread: +0.007% → −0.094%: $10.06
Slippage, 4 orders: −$14.2
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$12.81
Costs to cover: 0.312%
Break-even: 17.8 days

Slippage from Phoenix: live order book, 17 min ago; Coinbase International: live order book, 3 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 Phoenix live order book, 17 min ago	2.56 bp	9.2 bp −$9	18.1 bp −$181	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.07 bp	5.7 bp −$6	9.9 bp −$99	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	740.86	−0.030%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.70	+0.084%	$456K	$534K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.86	−0.029%	$552K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.82	−0.035%	$27.3M	$175.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.12	+0.005%	$7.6M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.94	−0.019%	$6.1M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.64	−0.059%	$324K	$5.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.83	−0.034%	$6.1M	$10.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.36	+0.037%	$1.7M	$2.4M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.13	+0.007%	$12K	$547K	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	740.88	−0.027%	$811	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.73	−0.047%	$30K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.70	−0.051%	$105K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.24	+0.022%	$2.0M	$7K	10x	as long as short
Nado META-PERP	+0.0024%	1h	740.77	−0.042%	$349K	$286K	20x	as long as short
Lighter RH META	+0.0032%	1h	741.18	+0.013%	$737K	$3.2M	20x	as long as short
Phoenix METAlong	+0.0032%	1h	741.08	long leg	$303K	$774K	20x
QFEX META-USD	+0.0037%	1h	741.09	+0.001%	$2.2M	$14.1M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.38	+0.040%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.95	−0.018%	$177K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.92	−0.022%	$540K	$836K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.94	−0.019%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.50	−0.078%	$717K	$3.8M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	740.94	−0.019%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0061%	1h	741.75	+0.090%	$37K	$52K	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0072%	1h	741.13	+0.007%	$618K	$7.3M	10x
KuCoin METAUSDTM	+0.0100%	8h	740.81	−0.036%	$1.6M	$316K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.61	−0.063%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.05	−0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.96	−0.016%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0188%	1h	740.94	−0.019%	$69.4M	$118.9M	20x	as long as short
Lighter META	+0.0216%	1h	741.24	+0.022%	$861K	$2.6M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.49	−0.080%	$171K	$47K	30x	as long as short
Arcus META-USD	+0.0224%	1h	740.79	−0.039%	$263K	$313K	10x	as long as short
Hotstuff META-PERP	+0.0232%	1h	740.99	−0.012%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0423%	4h	741.06	−0.003%	$62K	$328K	10x	as long as short