Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: Deribit against OKX−0.011%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−$28as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.013%+$1 on $10k

Price spread, last 4 days (all we have)+0.165%+$16 · spread now −0.011%, 7d avg −0.052%

Together, before fees+0.177%+$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: Deribit is 0.041% dearer against OKX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX META-USDT-SWAP	742.54	0	get 0.0000% / 8h	4h 22m	$6.0M	$13.5M	20x
Short	Deribit META_USDC-PERPETUAL	742.46	0	get 0.0000% / 1h	22m 50s	$31K	$245K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → −0.052%: $4.1
Slippage, 4 orders: −$14.77
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$27.67
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from OKX: live order book, just now; Deribit: live order book, 36 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 OKX live order book, just now	0.88 bp	10.8 bp −$11	21.0 bp −$210	doesn't fit	doesn't fit
Sell Deribit live order book, 36 min ago	0.07 bp	3.6 bp −$4	6.6 bp −$66	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	742.65	+0.015%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0019%	1h	742.19	−0.046%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.58	+0.006%	$468K	$552K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.53	−0.001%	$549K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.72	+0.024%	$27.6M	$180.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.60	+0.008%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAPlong	0.0000%	8h	742.54	long leg	$6.0M	$13.5M	20x
Gate META_USDT	0.0000%	8h	742.28	−0.035%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.67	+0.018%	$5.3M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.05	−0.066%	$2.4M	$3.1M	—	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	741.87	−0.090%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.73	+0.026%	$979	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUALshort	0.0000%	1h	742.46	−0.011%	$31K	$245K	10x
HTX META-USDT	0.0000%	8h	742.49	−0.007%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.64	+0.013%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.11	+0.077%	$771K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.62	+0.011%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.90	−0.086%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.04	+0.067%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.70	+0.022%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.41	−0.018%	$584K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.59	+0.007%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.67	−0.117%	$764K	$4.4M	10x	as long as short
Paradex META-USD-PERP	+0.0066%	8h	742.46	−0.010%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	742.48	−0.008%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.62	+0.011%	$1.6M	$548K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.88	−0.089%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.66	+0.016%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.53	−0.001%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	741.90	−0.086%	$625K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0168%	1h	742.49	−0.007%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.24	−0.040%	$171K	$48K	30x	as long as short
edgeX METAUSDC	+0.0245%	4h	742.15	−0.052%	$62K	$336K	10x	as long as short
Lighter META	+0.0248%	1h	743.00	+0.062%	$858K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0280%	1h	742.59	+0.007%	$69.4M	$120.4M	20x	as long as short
Phoenix META	+0.0591%	1h	742.78	+0.032%	$682K	$1.2M	20x	as long as short