Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against Deribit+0.110%7-day average +0.053% · 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−$28as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.014%−$1 on $10k

Price spread, last 4 days (all we have)−0.442%−$44 · spread now +0.110%, 7d avg +0.053%

Together, before fees−0.455%−$46 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: OKX is 0.057% dearer against Deribit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit META_USDC-PERPETUAL	744.10	0	get 0.0000% / 1h	54m 51s	$36K	$269K	10x
Short	OKX META-USDT-SWAP	744.92	0	get 0.0000% / 8h	6h 54m	$6.1M	$13.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.110%Rate

Funding earned: $0
Price spread: +0.110% → +0.053%: $5.71
Slippage, 4 orders: −$16.87
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$28.16
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from Deribit: live order book, 39 min ago; OKX: 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, 39 min ago	3.83 bp	7.4 bp −$7	8.1 bp −$81	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	1.81 bp	9.7 bp −$10	17.9 bp −$179	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	744.57	+0.063%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.20	+0.148%	$490K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.58	+0.065%	$544K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.66	+0.076%	$25.9M	$192.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.81	+0.095%	$7.7M	$15.9M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	744.92	+0.110%	$6.1M	$13.0M	20x
Gate META_USDT	0.0000%	8h	744.43	+0.044%	$447K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.65	+0.074%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	745.38	+0.172%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.62	+0.204%	$12K	$438K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.39	+0.173%	$786	$7.6M	20x	as long as short
Deribit META_USDC-PERPETUALlong	0.0000%	1h	744.10	long leg	$36K	$269K	10x
HTX META-USDT	0.0000%	8h	744.59	+0.066%	$108K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.79	+0.093%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.73	+0.085%	$812K	$2.8M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.83	+0.098%	$111K	$315K	10x	as long as short
QFEX META-USD	+0.0041%	1h	745.04	+0.126%	$2.2M	$14.1M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.90	+0.108%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.16	+0.142%	$179K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.83	+0.098%	$566K	$609K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.62	+0.070%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.75	+0.087%	$741K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0063%	8h	744.99	+0.120%	—	—	5x	as long as short
Nado META-PERP	+0.0076%	1h	744.05	−0.007%	$478K	$559K	20x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	745.11	+0.136%	$51K	$91K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	744.98	+0.118%	$641K	$7.8M	10x	as long as short
Pacifica META	+0.0100%	1h	745.35	+0.169%	$608	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.97	+0.117%	$1.6M	$804K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.91	+0.109%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.55	+0.060%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.44	+0.045%	$268	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.33	+0.300%	$176K	$52K	30x	as long as short
Lighter META	+0.0272%	1h	744.97	+0.117%	$1.2M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0280%	1h	745.33	+0.165%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0369%	1h	744.91	+0.109%	$86.4M	$134.6M	20x	as long as short
edgeX METAUSDC	+0.0473%	4h	745.31	+0.163%	$63K	$346K	10x	as long as short
Phoenix META	+0.0791%	1h	746.65	+0.343%	$797K	$1.5M	20x	as long as short