Funding you earn now, next payment 03:00 UTC−0.0431%/8h= −47.2% APRnext payment −$0.54 per $10,000 · paid last 24h −0.037%
Price spread now: Hotstuff against Phoenix−0.120%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Hotstuff is 0.120% cheaper against Phoenix than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix META | 744.70 | 0.0591 | pay 0.0074% / 1h | 14m 54s | $701K | $1.2M | 20x |
| Short | Hotstuff META-PERP | 743.81 | 0.0160 | get 0.0020% / 1h | 14m 54s | $33K | $105 | 20x |
Phoenix META
Hotstuff META-PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hotstuff against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$90.49
- Price spread: −0.120% → 0.000%
- −$11.95
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Hotstuff: 2.5 bp × 2 orders
- −$5
- Net
- −$114.44
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 3 min ago; Hotstuff: 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 Phoenix live order book, 3 min ago | 2.42 bp | 8.9 bp −$9 | 17.5 bp −$175 | doesn't fit | doesn't fit |
| Sell Hotstuff no order-book sample | — | — | — | — | — |
Hotstuff: 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 | 743.98 | −0.097% | $329K | $1.1M | 20x | as long as short |
| Nado META-PERP | −0.0021% | 1h | 743.37 | −0.179% | $481K | $553K | 20x | as long as short |
| Aster METAUSDT | 0.0000% | 8h | 743.44 | −0.170% | $468K | $553K | 20x | as long as short |
| Extended META_24_5-USD | 0.0000% | 1h | 743.87 | −0.111% | $550K | $2.7M | 17x | as long as short |
| Binance METAUSDT | 0.0000% | 8h | 744.11 | −0.079% | $28.0M | $181.8M | 20x | as long as short |
| Bybit METAUSDT | 0.0000% | 8h | 743.97 | −0.098% | $7.6M | $14.1M | 100x | as long as short |
| OKX META-USDT-SWAP | 0.0000% | 8h | 744.00 | −0.094% | $6.0M | $13.6M | 20x | as long as short |
| Gate META_USDT | 0.0000% | 8h | 743.64 | −0.142% | $365K | $5.7M | 100x | as long as short |
| Bitget METAUSDT | 0.0000% | 8h | 744.12 | −0.078% | $5.4M | $11.7M | 100x | as long as short |
| Variational Omni META | 0.0000% | 8h | 743.81 | −0.120% | $2.4M | $3.1M | — | as long as short |
BloFin META-USDT
Nado META-PERP
Aster METAUSDT
Extended META_24_5-USD
Binance METAUSDT
Bybit METAUSDT
OKX META-USDT-SWAP
Gate META_USDT
Bitget METAUSDT
Variational Omni METAShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT META_USDT_Perp | 0.0000% | 8h | 743.92 | −0.105% | $13K | $443K | 10x | as long as short |
| SunX META-USDT | 0.0000% | 8h | 743.90 | −0.107% | $918 | $9.1M | 20x | as long as short |
| Deribit META_USDC-PERPETUAL | 0.0000% | 1h | 743.43 | −0.171% | $31K | $246K | 10x | as long as short |
| HTX META-USDT | 0.0000% | 8h | 743.92 | −0.105% | $106K | $296K | 30x | as long as short |
| Phemex METAUSDT | 0.0000% | 4h | 743.44 | −0.169% | $2.0M | $8K | 10x | as long as short |
| Lighter RH META | +0.0032% | 1h | 744.07 | −0.085% | $772K | $3.0M | 20x | as long as short |
| QFEX META-USD | +0.0036% | 1h | 743.73 | −0.130% | $2.2M | $13.8M | 10x | as long as short |
| Arcus META-USD | +0.0040% | 1h | 743.37 | −0.179% | $110K | $330K | 10x | as long as short |
| Vest META-USD-PERP | +0.0046% | 1h | 743.92 | −0.105% | — | $10K | 25x | as long as short |
| Popdex METAUSDT | +0.0048% | 1h | 744.02 | −0.091% | $179K | $199K | 20x | as long as short |
| Polymarket Perps META-USD | +0.0050% | 1h | 743.52 | −0.158% | $585K | $565K | 10x | as long as short |
| SoDEX META-USD | +0.0050% | 1h | 743.97 | −0.098% | $24K | $3K | 10x | as long as short |
| Ondo Perps META-USD.P | +0.0050% | 1h | 743.21 | −0.200% | $800K | $4.5M | 10x | as long as short |
| Paradex META-USD-PERP | +0.0069% | 8h | 743.67 | −0.138% | — | — | 5x | as long as short |
| Aftermath Perps METAUSD | +0.0080% | 1h | 743.90 | −0.107% | $52K | $82K | 10x | as long as short |
| KuCoin METAUSDTM | +0.0100% | 8h | 743.68 | −0.137% | $1.6M | $550K | 20x | as long as short |
| ApeX Omni METAUSDT | +0.0100% | 1h | 743.07 | −0.219% | $166K | $71K | 50x | as long as short |
| Orderly PERP_META_USDC_mythos | +0.0100% | 8h | 744.11 | −0.079% | $1K | $24 | 10x | as long as short |
| Aevo META-PERP | +0.0104% | 1h | 743.87 | −0.111% | $268 | — | 10x | as long as short |
| Coinbase International META-PERP-INTX | +0.0104% | 1h | 743.78 | −0.124% | $626K | $7.2M | 10x | as long as short |
| Hotstuff META-PERPshort | +0.0160% | 1h | 743.81 | −0.120% | $33K | $105 | 20x | |
| Injective META/USDC PERP | +0.0220% | 1h | 742.66 | −0.274% | $171K | $48K | 30x | as long as short |
| Lighter META | +0.0256% | 1h | 744.03 | −0.090% | $864K | $2.5M | 20x | as long as short |
| tradeXYZ xyz:META | +0.0274% | 1h | 743.99 | −0.095% | $69.5M | $120.6M | 20x | as long as short |
| edgeX METAUSDC | +0.0374% | 4h | 743.85 | −0.115% | $62K | $338K | 10x | as long as short |
| Phoenix METAlong | +0.0591% | 1h | 744.70 | long leg | $701K | $1.2M | 20x |
GRVT META_USDT_Perp
SunX META-USDT
Deribit META_USDC-PERPETUAL
HTX META-USDT
Phemex METAUSDT
Lighter RH META
QFEX META-USD
Arcus META-USD
Vest META-USD-PERP
Popdex METAUSDT
Polymarket Perps META-USD
SoDEX META-USD
Ondo Perps META-USD.P
Paradex META-USD-PERP
Aftermath Perps METAUSD
KuCoin METAUSDTM
ApeX Omni METAUSDT
Orderly PERP_META_USDC_mythos
Aevo META-PERP
Coinbase International META-PERP-INTX
Injective META/USDC PERP
Lighter META
tradeXYZ xyz:META
edgeX METAUSDC