Spread before costs (cost unknown: a leg has no order-book sample)+0.050%
7d average—if it closes, per $10,000$5funding while held, a day−$1.15
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix META | 712.79 | 0.0090 | pay 0.0011% / 1h | 30m 32s | $230K | $284K | 20x |
| Short | Paradex META-USD-PERP | 713.15 | 0.0052 | get 0.0052% / 8h | 30m 32s | — | — | 5x |
Phoenix META
Paradex META-USD-PERPPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $5
- Funding while held
- −$1.15
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Paradex: 2 bp × 2 orders
- −$4
- Net
- −$7.14
- Spread needed to break even
- 0.110%
Slippage unknown: Phoenix: live order book, 17 min ago; Paradex: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0038%
- Per $10,000 a day
- −$1.15
- Average in range /8h
- —
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 | 2.96 bp | 10.2 bp −$10 | 20.7 bp −$207 | doesn't fit | doesn't fit |
| Sell Paradex no order-book sample | — | — | — | — | — |
Paradex: 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 price on every exchange
against the cheapest. Click to use as the short leg.Injective711.82cheapestCoinbase International711.97+0.021%Aftermath Perps712.45+0.089%Bybit712.63+0.114%KuCoin712.70+0.124%edgeX712.72+0.127%
Injective
Coinbase International
Bybit
KuCoinPhoenix712.79+0.136%
Binance712.80+0.138%Popdex712.80+0.138%ApeX Omni712.81+0.139%HTX712.81+0.139%QFEX712.84+0.143%Ondo Perps712.87+0.148%Arcus712.93+0.156%Gate712.95+0.159%OKX713.00+0.166%Orderly713.03+0.170%Extended713.05+0.172%SoDEX713.07+0.176%Bitget713.08+0.177%Deribit713.08+0.177%Hotstuff713.10+0.180%Aevo713.11+0.182%Phemex713.14+0.185%
Binance
Popdex
ApeX Omni
HTX
QFEX
Ondo Perps
Arcus
Gate
OKX
Orderly
Extended
SoDEX
Bitget
Deribit
Hotstuff
Aevo
PhemexParadex713.15+0.186%
tradeXYZ713.16+0.188%Nado713.19+0.192%Variational Omni713.20+0.194%BloFin713.27+0.204%Vest713.29+0.207%Lighter713.33+0.212%Lighter RH713.33+0.212%Aster713.34+0.214%Polymarket Perps713.35+0.215%SunX713.38+0.219%
tradeXYZ
Nado
Variational Omni
BloFin
Vest
Lighter
Lighter RH
Aster
Polymarket Perps
SunXMETA on 35 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective META/USDC PERP | −0.136% | +0.0220% | 1h | $162K | $135K | 30x | as long as short |
| Coinbase International META-PERP-INTX | −0.115% | +0.0056% | 1h | $644K | $4.9M | 10x | as long as short |
| Aftermath Perps METAUSD | −0.047% | +0.0247% | 1h | $43K | $48K | 10x | as long as short |
| Bybit METAUSDT | −0.022% | 0.0000% | 8h | $6.8M | $7.3M | 100x | as long as short |
| KuCoin METAUSDTM | −0.013% | +0.0100% | 8h | $1.5M | $140K | 20x | as long as short |
| edgeX METAUSDC | −0.009% | +0.0123% | 4h | $60K | $325K | 10x | as long as short |
| Phoenix METAlong | 0.000% | +0.0090% | 1h | $230K | $284K | 20x | |
| Binance METAUSDT | +0.001% | 0.0000% | 8h | $25.3M | $93.6M | 20x | as long as short |
| Popdex METAUSDT | +0.001% | +0.0048% | 1h | $166K | $155K | 20x | as long as short |
| ApeX Omni METAUSDT | +0.003% | +0.0100% | 1h | $111K | $46K | 50x | as long as short |