Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.020%

Price spread now: Deribit against SunX−0.100%7-day average −0.077% · 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−$83as in the Price arb table

costs, in and out, $10k−$810.808% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.026%+$3 on $10k

Price spread, last 3 days (all we have)+0.037%+$4 · spread now −0.100%, 7d avg −0.077%

Together, before fees+0.063%+$6 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 0.023% cheaper against SunX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.077%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	740.47	0	get 0.0000% / 8h	7h 09m	$890	$9.3M	20x
Short	Deribit META_USDC-PERPETUAL	739.73	0	get 0.0000% / 1h	9m 49s	$30K	$246K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.100%Rate

Funding earned: $0
Price spread: −0.100% → −0.077%: −$2.34
Slippage, 4 orders: −$65.79
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$83.13
Costs to cover: 0.808%
Break-even: never at this rate

Slippage from SunX: live order book, 9 min ago; Deribit: live order book, 64 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 SunX live order book, 9 min ago	28.18 bp	32.2 bp −$32	61.2 bp −$612	doesn't fit	doesn't fit
Sell Deribit live order book, 64 min ago	4.72 bp	8.2 bp −$8	12.4 bp −$124	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	739.91	−0.076%	$326K	$1.1M	20x	as long as short
Nado META-PERP	−0.0078%	1h	739.77	−0.094%	$454K	$461K	20x	as long as short
Aster METAUSDT	0.0000%	8h	739.98	−0.066%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.02	−0.061%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.08	−0.053%	$27.4M	$179.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.29	−0.024%	$7.6M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.11	−0.049%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.88	−0.080%	$349K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.88	−0.080%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.81	−0.089%	$2.4M	$3.3M	—	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	740.32	−0.021%	$12K	$459K	10x	as long as short
SunX META-USDTlong	0.0000%	8h	740.47	long leg	$890	$9.3M	20x
Deribit META_USDC-PERPETUALshort	0.0000%	1h	739.73	−0.100%	$30K	$246K	10x
HTX META-USDT	0.0000%	8h	739.99	−0.065%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.09	−0.051%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.28	−0.026%	$752K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.29	−0.024%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.19	−0.038%	$178K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.91	−0.076%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.99	−0.065%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.52	−0.128%	$666K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.90	−0.077%	$2.2M	$14.2M	10x	as long as short
Hotstuff META-PERP	+0.0056%	1h	739.98	−0.066%	$33K	$105	20x	as long as short
Paradex META-USD-PERP	+0.0061%	8h	739.92	−0.074%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	739.64	−0.112%	$110K	$331K	10x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	740.49	+0.003%	$48K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.17	−0.041%	$1.6M	$449K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.88	−0.080%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.00	−0.063%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.84	−0.086%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	739.80	−0.090%	$614K	$7.3M	10x	as long as short
tradeXYZ xyz:META	+0.0161%	1h	740.14	−0.045%	$67.7M	$120.8M	20x	as long as short
Lighter META	+0.0200%	1h	740.26	−0.028%	$852K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.98	+0.204%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	740.72	+0.034%	$318K	$930K	20x	as long as short
edgeX METAUSDC	+0.0833%	4h	740.25	−0.030%	$62K	$336K	10x	as long as short