META

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0065%/8h= −7.1% APRnext payment −$0.08 per $10,000 · paid last 24h +0.096%

Price spread now: Extended against Phoenix−0.049%88s7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.265% of the position

Long on Phoenix Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.219%−$22 on $10k

Price spread, last 3 days (all we have)+0.165%+$17 · spread now −0.049%, 7d avg −0.003%

Together, before fees−0.053%+ Points / potential airdropExtended: Active · farm board−$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Extended is 0.046% cheaper against Phoenix than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.003%). Swap the legs. The two prices were read 88 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix META	740.71	0.0065	pay 0.0008% / 1h	45m 38s	$291K	$791K	20x
Short	Extended META_24_5-USD	740.35	0	get 0.0000% / 1h	45m 38s	$548K	$1.5M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.049%Rate

Funding earned: −$13.61
Price spread: −0.049% → −0.003%: −$4.59
Slippage, 4 orders: −$14.53
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$44.73
Costs to cover: 0.265%
Break-even: never at this rate

Slippage from Phoenix: live order book, 37 min ago; Extended: 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, 37 min ago	2.16 bp	8.2 bp −$8	15.8 bp −$158	doesn't fit	doesn't fit
Sell Extended live order book, 3 min ago	0.07 bp	5.1 bp −$5	30.5 bp −$305	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	740.44	−0.036%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0074%	1h	740.47	−0.032%	$396K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.26	+0.075%	$458K	$536K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	740.35	−0.049%	$548K	$1.5M	17x
Binance METAUSDT	0.0000%	8h	740.50	−0.029%	$26.9M	$177.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.36	−0.047%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.35	−0.049%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.13	−0.078%	$321K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.54	−0.023%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.53	−0.024%	$1.6M	$2.6M	—	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	740.86	+0.020%	$12K	$518K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.78	+0.009%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.58	−0.018%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.29	−0.057%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.60	−0.015%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.41	−0.041%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.82	+0.015%	$744K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.26	−0.061%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.06	+0.047%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.52	−0.026%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.65	−0.008%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.52	−0.026%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.30	−0.056%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.02	−0.093%	$666K	$4.0M	10x	as long as short
Aftermath Perps METAUSD	+0.0054%	1h	741.34	+0.085%	$48K	$64K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.90	+0.026%	$608K	$7.3M	10x	as long as short
Phoenix METAlong	+0.0065%	1h	740.71	long leg	$291K	$791K	20x
Lighter META	+0.0088%	1h	740.81	+0.014%	$859K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.41	−0.041%	$1.6M	$359K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.42	−0.039%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.57	−0.019%	$1K	$24	10x	as long as short
Hotstuff META-PERP	+0.0104%	1h	740.67	−0.005%	$33K	$105	20x	as long as short
Aevo META-PERP	+0.0104%	1h	740.44	−0.036%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0125%	1h	740.63	−0.011%	$68.5M	$120.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.50	−0.028%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0319%	4h	740.64	−0.009%	$62K	$330K	10x	as long as short