Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h —

Price spread now: Deribit against Paradex−0.066%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Deribit is 0.066% cheaper against Paradex than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex META-USD-PERP	746.42	0.0056	pay 0.0056% / 8h	3h 27m	—	—	5x
Short	Deribit META_USDC-PERPETUAL	745.93	0	get 0.0000% / 1h	27m 27s	$31K	$246K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Paradex. 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 ParadexbpFee DeribitbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$11.73
Price spread: −0.066% → 0.000%: −$6.61
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$29.34
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Deribit: live order book, 26 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Deribit live order book, 26 min ago	0.07 bp	3.6 bp −$4	5.7 bp −$57	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	746.61	+0.025%	$329K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.01	−0.056%	$470K	$555K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.05	−0.050%	$554K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.00	−0.057%	$28.5M	$183.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.99	−0.058%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.15	−0.037%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.60	−0.110%	$379K	$5.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.88	+0.062%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.71	+0.038%	$12K	$452K	10x	as long as short
SunX META-USDT	0.0000%	8h	746.23	−0.026%	$915	$9.0M	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	745.93	−0.066%	$31K	$246K	10x
HTX META-USDT	0.0000%	8h	746.26	−0.022%	$106K	$303K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.82	+0.053%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0001%	1h	745.80	−0.084%	$482K	$554K	20x	as long as short
Bitget METAUSDT	+0.0006%	8h	746.09	−0.045%	$5.5M	$11.8M	100x	as long as short
Lighter RH META	+0.0032%	1h	746.37	−0.007%	$783K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.16	−0.035%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.39	−0.004%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.66	−0.102%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.30	−0.017%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.33	−0.146%	$792K	$4.6M	10x	as long as short
Paradex META-USD-PERPlong	+0.0056%	8h	746.42	long leg	—	—	5x
QFEX META-USD	+0.0058%	1h	746.28	−0.019%	$2.2M	$13.8M	10x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.69	+0.035%	$52K	$82K	10x	as long as short
edgeX METAUSDC	+0.0088%	4h	746.59	+0.022%	$62K	$336K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.40	−0.003%	$1.6M	$615K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.19	−0.031%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.94	−0.065%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.87	−0.074%	$269	—	10x	as long as short
Popdex METAUSDT	+0.0128%	1h	746.07	−0.047%	$180K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.61	+0.025%	$640K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.37	+0.395%	$173K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0264%	1h	746.15	−0.037%	$33K	$105	20x	as long as short
Lighter META	+0.0280%	1h	746.36	−0.008%	$866K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0335%	1h	745.89	−0.071%	$70.4M	$121.1M	20x	as long as short
Phoenix META	+0.0633%	1h	747.69	+0.170%	$798K	$1.4M	20x	as long as short