Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0218%/8h= −23.9% APRpaid last 24h −0.098%

Price spread now: Deribit against edgeX−0.039%7-day average −0.052% · 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−$31as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.501%−$50 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now −0.039%, 7d avg −0.052%

Together, before fees−0.358%+ Points / potential airdropedgeX: Active · farm board−$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.052%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX METAUSDC	745.98	0.0218	pay 0.0109% / 4h	2h 53m	$62K	$338K	10x
Short	Deribit META_USDC-PERPETUAL	745.69	0	get 0.0000% / 1h	53m 25s	$31K	$255K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against edgeX. 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 edgeXbpFee DeribitbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$45.77
Price spread: −0.039% → −0.052%: $1.33
Slippage, 4 orders: −$16.19
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$76.63
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from edgeX: live order book, 60 min ago; Deribit: live order book, 60 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 edgeX live order book, 60 min ago	5.17 bp	9.8 bp −$10	11.4 bp −$114	doesn't fit	doesn't fit
Sell Deribit live order book, 60 min ago	0.07 bp	3.6 bp −$4	5.7 bp −$57	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	746.09	+0.015%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.49	+0.069%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.84	−0.019%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.01	+0.004%	$28.4M	$181.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.84	−0.019%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.12	+0.019%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.72	−0.035%	$430K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	746.09	+0.016%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.62	+0.086%	$12K	$446K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.14	+0.022%	$1K	$8.6M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit META_USDC-PERPETUALshort	0.0000%	1h	745.69	−0.039%	$31K	$255K	10x
HTX META-USDT	0.0000%	8h	745.92	−0.008%	$106K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.46	+0.065%	$2.0M	$8K	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.93	−0.007%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.08	+0.014%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.92	−0.008%	$2.2M	$13.8M	10x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.62	−0.048%	$587K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.02	+0.006%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.27	−0.095%	$759K	$4.5M	10x	as long as short
Lighter RH META	+0.0056%	1h	746.09	+0.015%	$768K	$2.9M	20x	as long as short
Nado META-PERP	+0.0057%	1h	745.50	−0.064%	$482K	$557K	20x	as long as short
Paradex META-USD-PERP	+0.0071%	8h	745.80	−0.025%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	746.88	+0.121%	$52K	$82K	10x	as long as short
Bitget METAUSDT	+0.0091%	8h	746.05	+0.010%	$5.5M	$11.9M	100x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.02	+0.006%	$1.6M	$630K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.87	−0.015%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.15	+0.023%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.99	+0.002%	$269	—	10x	as long as short
Popdex METAUSDT	+0.0128%	1h	746.08	+0.014%	$179K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	+0.058%	$671K	$7.6M	10x	as long as short
edgeX METAUSDClong	+0.0218%	4h	745.98	long leg	$62K	$338K	10x
Injective META/USDC PERP	+0.0220%	1h	749.00	+0.405%	$173K	$46K	30x	as long as short
Lighter META	+0.0336%	1h	746.11	+0.018%	$969K	$2.5M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	746.17	+0.026%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0515%	1h	746.19	+0.028%	$72.5M	$122.2M	20x	as long as short
Phoenix META	+0.0685%	1h	748.29	+0.310%	$799K	$1.4M	20x	as long as short