Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.016%

Price spread now: BloFin against Deribit+0.097%7-day average +0.072% · 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−$25as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.203%−$20 on $10k

Price spread, last 4 days (all we have)−0.029%−$3 · spread now +0.097%, 7d avg +0.072%

Together, before fees−0.232%−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.025% dearer against Deribit than usual: you sell high and buy low (spread +0.097% now, against its 7-day average of +0.072%): +$2 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 16 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit META_USDC-PERPETUAL	742.16	0	get 0.0000% / 1h	20m 58s	$31K	$246K	10x
Short	BloFin META-USDT	742.88	−0.0120	pay 0.0120% / 8h	4h 20m	$329K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.097%Rate

Funding earned: −$25.2
Price spread: +0.097% → +0.072%: $2.46
Slippage, 4 orders: −$8.19
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$49.93
Costs to cover: 0.272%
Break-even: never at this rate

Slippage from Deribit: live order book, 38 min ago; BloFin: live order book, 1 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, 38 min ago	0.07 bp	8.4 bp −$8	10.1 bp −$101	doesn't fit	doesn't fit
Sell BloFin live order book, 1 min ago	0.07 bp	8.3 bp −$8	12.0 bp −$120	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-USDTshort	−0.0120%	8h	742.88	+0.097%	$329K	$1.1M	20x
Nado META-PERP	−0.0025%	1h	742.70	+0.073%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.59	+0.058%	$468K	$552K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.64	+0.064%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.80	+0.086%	$27.6M	$180.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.77	+0.082%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.69	+0.071%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.27	+0.015%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.72	+0.075%	$5.3M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.78	+0.083%	$2.4M	$3.1M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	742.66	+0.067%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.93	+0.104%	$918	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUALlong	0.0000%	1h	742.16	long leg	$31K	$246K	10x
HTX META-USDT	0.0000%	8h	742.62	+0.062%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.54	+0.051%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.93	+0.104%	$771K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.66	+0.067%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.17	+0.001%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.12	+0.129%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.83	+0.090%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.34	+0.024%	$584K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.73	+0.077%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.22	+0.008%	$765K	$4.4M	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	742.70	+0.073%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	742.76	+0.081%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.79	+0.085%	$1.6M	$549K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.88	−0.038%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.69	+0.071%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.54	+0.052%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	741.90	−0.035%	$625K	$7.2M	10x	as long as short
edgeX METAUSDC	+0.0137%	4h	742.55	+0.052%	$62K	$336K	10x	as long as short
Hotstuff META-PERP	+0.0192%	1h	742.80	+0.086%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.24	+0.011%	$171K	$48K	30x	as long as short
Lighter META	+0.0248%	1h	742.87	+0.096%	$858K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0272%	1h	742.72	+0.075%	$69.5M	$120.4M	20x	as long as short
Phoenix META	+0.0591%	1h	743.61	+0.195%	$687K	$1.2M	20x	as long as short