Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.019%

Price spread now: Gate against Deribit+0.030%7-day average −0.001% · 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−$42as in the Price arb table

costs, in and out, $10k−$450.448% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.025%−$2 on $10k

Price spread, last 3 days (all we have)−0.121%−$12 · spread now +0.030%, 7d avg −0.001%

Together, before fees−0.146%−$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.031% dearer against Deribit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit META_USDC-PERPETUAL	739.51	0	get 0.0000% / 1h	10m 45s	$30K	$246K	10x
Short	Gate META_USDT	739.73	0	get 0.0000% / 8h	7h 10m	$349K	$5.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.030%Rate

Funding earned: $0
Price spread: +0.030% → −0.001%: $3.1
Slippage, 4 orders: −$22.78
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$41.69
Costs to cover: 0.448%
Break-even: never at this rate

Slippage from Deribit: live order book, 63 min ago; Gate: live order book, 3 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, 63 min ago	4.72 bp	8.2 bp −$8	12.2 bp −$122	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	4.53 bp	14.3 bp −$14	43.9 bp −$439	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	739.91	+0.054%	$326K	$1.1M	20x	as long as short
Nado META-PERP	−0.0075%	1h	739.67	+0.021%	$457K	$460K	20x	as long as short
Aster METAUSDT	0.0000%	8h	739.88	+0.050%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.88	+0.049%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.04	+0.072%	$27.4M	$179.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.26	+0.101%	$7.6M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.11	+0.081%	$6.0M	$13.2M	20x	as long as short
Gate META_USDTshort	0.0000%	8h	739.73	+0.030%	$349K	$5.6M	100x
Bitget METAUSDT	0.0000%	8h	739.88	+0.050%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.81	+0.040%	$2.4M	$3.3M	—	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	740.32	+0.109%	$12K	$459K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.37	+0.116%	$890	$9.3M	20x	as long as short
Deribit META_USDC-PERPETUALlong	0.0000%	1h	739.51	long leg	$30K	$246K	10x
HTX META-USDT	0.0000%	8h	739.74	+0.031%	$104K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.59	+0.146%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.23	+0.097%	$752K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.31	+0.108%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.06	+0.074%	$178K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.69	+0.024%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.89	+0.051%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.52	+0.001%	$666K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.78	+0.037%	$2.2M	$14.2M	10x	as long as short
Paradex META-USD-PERP	+0.0061%	8h	739.92	+0.056%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	739.64	+0.018%	$110K	$331K	10x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	740.57	+0.143%	$48K	$80K	10x	as long as short
Hotstuff META-PERP	+0.0072%	1h	739.93	+0.057%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.07	+0.076%	$1.6M	$448K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.88	+0.050%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.93	+0.057%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.77	+0.035%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	739.80	+0.039%	$614K	$7.3M	10x	as long as short
tradeXYZ xyz:META	+0.0161%	1h	739.97	+0.062%	$67.7M	$121.8M	20x	as long as short
Lighter META	+0.0200%	1h	740.20	+0.093%	$852K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.98	+0.334%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	740.72	+0.164%	$318K	$930K	20x	as long as short
edgeX METAUSDC	+0.0833%	4h	740.25	+0.100%	$62K	$336K	10x	as long as short