Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0194%/8h= +21.3% APRpaid last 24h +0.045%

Price spread now: Deribit against BloFin+0.051%7-day average −0.073% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$330.328% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.195%+$20 on $10k

Price spread, last 3 days (all we have)−0.119%−$12 · spread now +0.051%, 7d avg −0.073%

Together, before fees+0.076%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.125% dearer against BloFin than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.073%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin META-USDT	740.31	−0.0120	get 0.0120% / 8h	2h 08m	$329K	$1.1M	20x
Short	Deribit META_USDC-PERPETUAL	740.69	0.0074	get 0.0009% / 1h	8m 44s	$30K	$256K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now +0.051%Rate

Funding earned: $40.77
Price spread: +0.051% → −0.073%: $12.47
Slippage, 4 orders: −$13.83
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $20.41
Costs to cover: 0.328%
Break-even: 3.5 days

Slippage from BloFin: live order book, 9 min ago; Deribit: live order book, 15 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 BloFin live order book, 9 min ago	0.54 bp	8.4 bp −$8	12.4 bp −$124	doesn't fit	doesn't fit
Sell Deribit live order book, 15 min ago	0.07 bp	11.6 bp −$12	15.2 bp −$152	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-USDTlong	−0.0120%	8h	740.31	long leg	$329K	$1.1M	20x
Nado META-PERP	−0.0107%	1h	740.33	+0.003%	$397K	$317K	20x	as long as short
Hotstuff META-PERP	−0.0056%	1h	740.64	+0.045%	$33K	$105	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.93	+0.084%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.41	+0.013%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.48	+0.023%	$26.9M	$177.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.39	+0.011%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.27	−0.005%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.19	−0.016%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.45	+0.019%	$5.8M	$11.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.48	+0.023%	$1.6M	$2.5M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.45	+0.018%	$12K	$525K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.97	+0.089%	$882	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.27	−0.005%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.50	+0.026%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.42	+0.015%	$2.2M	$14.2M	10x	as long as short
Lighter META	+0.0032%	1h	740.75	+0.059%	$860K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	740.77	+0.062%	$748K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.22	−0.012%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.94	+0.085%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.48	+0.023%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.75	+0.059%	$68.5M	$120.5M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.60	+0.039%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.45	+0.019%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.11	−0.027%	$641K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.26	−0.007%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	741.03	+0.098%	$45K	$61K	10x	as long as short
Deribit META_USDC-PERPETUALshort	+0.0074%	1h	740.69	+0.051%	$30K	$256K	10x
Coinbase International META-PERP-INTX	+0.0080%	1h	740.26	−0.007%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.59	+0.038%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.43	+0.016%	$1.6M	$354K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.26	−0.007%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.47	+0.022%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.33	+0.002%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.25	−0.008%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0908%	4h	740.46	+0.021%	$62K	$328K	10x	as long as short