Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.017%

Price spread now: Deribit against GRVT+0.029%7-day average −0.067% · 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−$21as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.024%+$2 on $10k

Price spread, last 3 days (all we have)+0.151%+$15 · spread now +0.029%, 7d avg −0.067%

Together, before fees+0.174%+ Points / potential airdropGRVT: Active · farm board+$17 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: Deribit is 0.095% dearer against GRVT than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT META_USDT_Perp	740.32	0	get 0.0000% / 8h	2h 20m	$12K	$528K	10x
Short	Deribit META_USDC-PERPETUAL	740.53	0	get 0.0000% / 1h	20m 37s	$30K	$256K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GRVT. 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 GRVTbpFee DeribitbpOrdersPrice spread, now +0.029%Rate

Funding earned: $0
Price spread: +0.029% → −0.067%: $9.54
Slippage, 4 orders: −$14.7
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$21.16
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from GRVT: live order book, 2 min ago; Deribit: 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 GRVT live order book, 2 min ago	0.94 bp	6.4 bp −$6	11.2 bp −$112	doesn't fit	doesn't fit
Sell Deribit live order book, 3 min ago	0.07 bp	11.6 bp −$12	15.2 bp −$152	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	740.32	+0.001%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0119%	1h	740.28	−0.005%	$398K	$316K	20x	as long as short
Hotstuff META-PERP	−0.0096%	1h	740.50	+0.025%	$33K	$105	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.96	+0.086%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.35	+0.005%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.45	+0.018%	$26.8M	$177.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.33	+0.002%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.36	+0.006%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.86	−0.062%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.34	+0.003%	$5.7M	$11.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.36	+0.006%	$1.6M	$2.5M	—	as long as short
GRVT META_USDT_Perplong	0.0000%	8h	740.32	long leg	$12K	$528K	10x
SunX META-USDT	0.0000%	8h	740.90	+0.079%	$694	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUALshort	0.0000%	1h	740.53	+0.029%	$30K	$256K	10x
HTX META-USDT	0.0000%	8h	740.19	−0.017%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.47	+0.021%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.47	+0.021%	$2.2M	$14.2M	10x	as long as short
Lighter META	+0.0032%	1h	740.62	+0.041%	$860K	$2.6M	20x	as long as short
Lighter RH META	+0.0032%	1h	740.66	+0.046%	$740K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.20	−0.016%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.86	+0.073%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.44	+0.017%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.53	+0.029%	$68.5M	$120.4M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.55	+0.032%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.32	+0.001%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.18	−0.018%	$639K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	740.27	−0.006%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0052%	1h	741.00	+0.092%	$45K	$61K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	740.26	−0.008%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.48	+0.022%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.33	+0.002%	$1.6M	$352K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.32	+0.001%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.43	+0.015%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.31	0.000%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.50	+0.295%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0261%	4h	740.36	+0.005%	$62K	$329K	10x	as long as short