Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: GRVT against Deribit−0.200%75s7-day average +0.065% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.298% of the position

Long on Deribit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.174%+$17 · spread now −0.200%, 7d avg +0.065%

Together, before fees+0.176%+ Points / potential airdropGRVT: Active · farm board+$18 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: GRVT is 0.264% cheaper against Deribit than usual: you would sell low and buy high, −$26 on $10k if it goes back to its 7-day average of +0.065%. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit META_USDC-PERPETUAL	746.45	0	get 0.0000% / 1h	52m 20s	$53K	$290K	10x
Short	GRVT META_USDT_Perp	744.96	0	get 0.0000% / 8h	7h 52m	$12K	$438K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.200%Rate

Funding earned: $0
Price spread: −0.200% → +0.065%: −$26.43
Slippage, 4 orders: −$13.75
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$56.18
Costs to cover: 0.298%
Break-even: never at this rate

Slippage from Deribit: live order book, 46 min ago; GRVT: live order book, 45 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, 46 min ago	0.07 bp	10.3 bp −$10	13.1 bp −$131	doesn't fit	doesn't fit
Sell GRVT live order book, 45 min ago	0.94 bp	7.4 bp −$7	10.1 bp −$101	doesn't fit	doesn't fit

META on 37 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	745.85	−0.080%	$335K	$1.1M	20x	as long as short
Nado META-PERP	−0.0030%	1h	746.53	+0.010%	$482K	$561K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.44	−0.002%	$483K	$597K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.28	−0.022%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.78	+0.045%	$25.6M	$190.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.49	+0.005%	$7.5M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.43	−0.003%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.29	−0.021%	$471K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.42	−0.004%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.33	−0.284%	$2.5M	$3.2M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perpshort	0.0000%	8h	744.96	−0.200%	$12K	$438K	10x
SunX META-USDT	0.0000%	8h	746.94	+0.066%	$1K	$7.9M	20x	as long as short
Deribit META_USDC-PERPETUALlong	0.0000%	1h	746.45	long leg	$53K	$290K	10x
HTX META-USDT	0.0000%	8h	746.34	−0.015%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.55	+0.013%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.58	+0.017%	$796K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	746.59	+0.019%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	746.31	−0.019%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.64	+0.025%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.76	+0.042%	$181K	$204K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.19	−0.035%	$567K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.40	−0.007%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.15	−0.040%	$714K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	746.13	−0.042%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	746.31	−0.018%	$49K	$90K	10x	as long as short
Pacifica META	+0.0100%	1h	745.99	−0.062%	$633	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.47	+0.003%	$1.6M	$742K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.47	−0.265%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.49	+0.005%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.29	−0.021%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	746.34	−0.015%	$648K	$8.1M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.31	−0.019%	$176K	$52K	30x	as long as short
Lighter META	+0.0264%	1h	746.84	+0.052%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0337%	1h	746.63	+0.024%	$84.7M	$132.1M	20x	as long as short
edgeX METAUSDC	+0.0490%	4h	744.42	−0.272%	$62K	$344K	10x	as long as short
Hotstuff META-PERP	+0.0512%	1h	745.57	−0.118%	$33K	$105	20x	as long as short
Phoenix META	+0.0791%	1h	746.41	−0.005%	$797K	$1.5M	20x	as long as short