META

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0661%/8h= −72.4% APRnext payment −$0.83 per $10,000 · paid last 24h −0.064%

Price spread now: Nado against Phoenix−0.063%57s7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$380.382% of the position

Long on Phoenix Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.180%−$18 on $10k

Price spread, last 4 days (all we have)+0.035%+$4 · spread now −0.063%, 7d avg −0.019%

Together, before fees−0.145%+ Points / potential airdropNado: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Nado is 0.044% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.019%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.180% in total (about -19.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.83 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix META	744.15	0.0685	pay 0.0086% / 1h	25m 54s	$795K	$1.4M	20x
Short	Nado META-PERP	743.68	0.0024	get 0.0003% / 1h	25m 54s	$481K	$558K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.063%Rate

Funding earned: −$138.8
Price spread: −0.063% → −0.019%: −$4.4
Slippage, 4 orders: −$24.18
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$181.38
Costs to cover: 0.382%
Break-even: never at this rate

Slippage from Phoenix: live order book, 2 min ago; Nado: live order book, 22 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, 2 min ago	2.42 bp	9.0 bp −$9	17.7 bp −$177	doesn't fit	doesn't fit
Sell Nado live order book, 22 min ago	0.60 bp	10.2 bp −$10	18.0 bp −$180	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	743.43	−0.097%	$331K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.59	+0.059%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.84	−0.042%	$544K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.09	−0.008%	$27.7M	$182.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.92	−0.031%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.91	−0.032%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.35	−0.108%	$440K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.15	0.000%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	743.94	−0.028%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.10	−0.141%	$12K	$442K	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	744.19	+0.005%	$528	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.56	−0.079%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.69	−0.062%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.44	−0.095%	$2.0M	$8K	10x	as long as short
Nado META-PERPshort	+0.0024%	1h	743.68	−0.063%	$481K	$558K	20x
Lighter RH META	+0.0032%	1h	744.23	+0.011%	$769K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	742.86	−0.173%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.24	+0.012%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.69	−0.062%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.99	−0.022%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.74	−0.055%	$585K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.86	−0.039%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.14	−0.136%	$736K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0076%	8h	743.82	−0.044%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	743.69	−0.061%	$51K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.73	−0.056%	$1.6M	$644K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.39	−0.237%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.93	−0.030%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.82	−0.045%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.48	−0.090%	$658K	$7.7M	10x	as long as short
edgeX METAUSDC	+0.0135%	4h	743.17	−0.132%	$62K	$341K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.90	+0.235%	$172K	$46K	30x	as long as short
Lighter META	+0.0320%	1h	744.31	+0.022%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	744.00	−0.020%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0441%	1h	744.42	+0.036%	$74.7M	$124.9M	20x	as long as short
Phoenix METAlong	+0.0685%	1h	744.15	long leg	$795K	$1.4M	20x