Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.064%

Price spread now: Binance against Deribit+0.020%7-day average +0.052% · 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−$30as in the Price arb table

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

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.070%−$7 on $10k

Price spread, last 2 days (all we have)+0.047%+$5 · spread now +0.020%, 7d avg +0.052%

Together, before fees−0.023%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.032% cheaper against Deribit than usual: you would sell low and buy high (spread +0.020% now, against its 7-day average of +0.052%). If the spread goes back, that is −$3 on $10k: about 5.3 days of funding at the current rate (+$1 a day). Mind the row above: over the last 5 days funding on this pair cost −0.070%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit META_USDC-PERPETUAL	740.52	−0.0020	get 0.0003% / 1h	32m 32s	$30K	$256K	10x
Short	Binance METAUSDT	740.67	0	get 0.0000% / 8h	1h 32m	$26.9M	$177.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.020%Rate

Funding earned: $4.2
Price spread: +0.020% → +0.052%: −$3.17
Slippage, 4 orders: −$9.52
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: −$25.49
Costs to cover: 0.265%
Break-even: 49.5 days

Slippage from Deribit: live order book, 51 min ago; Binance: live order book, 11 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 Deribit live order book, 51 min ago	0.07 bp	3.6 bp −$4	5.6 bp −$56	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.07 bp	5.9 bp −$6	12.9 bp −$129	31.9 bp −$3,191	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	740.52	0.000%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0076%	1h	740.71	+0.026%	$395K	$317K	20x	as long as short
Deribit META_USDC-PERPETUALlong	−0.0020%	1h	740.52	long leg	$30K	$256K	10x
Aster METAUSDT	0.0000%	8h	741.35	+0.113%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.56	+0.005%	$548K	$1.5M	17x	as long as short
Binance METAUSDTshort	0.0000%	8h	740.67	+0.020%	$26.9M	$177.9M	20x
Bybit METAUSDT	0.0000%	8h	740.70	+0.024%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.65	+0.018%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.10	−0.057%	$329K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.70	+0.024%	$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	740.63	+0.015%	$1.6M	$2.6M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.39	−0.018%	$12K	$506K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.79	+0.036%	$666	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.25	−0.036%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.53	+0.001%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.61	+0.012%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.99	+0.063%	$744K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.25	−0.036%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.24	+0.097%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.69	+0.023%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.75	+0.031%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.61	+0.012%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.56	+0.005%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.40	−0.016%	$666K	$4.1M	10x	as long as short
Aftermath Perps METAUSD	+0.0054%	1h	740.95	+0.058%	$49K	$63K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.57	+0.007%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0065%	1h	740.33	−0.026%	$291K	$791K	20x	as long as short
Lighter META	+0.0072%	1h	740.97	+0.061%	$862K	$2.5M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.69	+0.023%	$1.6M	$361K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.19	−0.045%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.71	+0.026%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.69	+0.023%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0105%	1h	740.78	+0.035%	$68.4M	$120.6M	20x	as long as short
Hotstuff META-PERP	+0.0184%	1h	740.79	+0.036%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.28	−0.032%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0897%	4h	740.56	+0.006%	$62K	$331K	10x	as long as short