Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.012%

Price spread now: Deribit against BloFin−0.083%57s7-day average −0.072% · 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—prices read too far apart to compare

costs, in and out, $10k−$310.310% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.204%+$20 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.083%, 7d avg −0.072%

Together, before fees+0.231%+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.072%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin META-USDT	744.02	−0.0120	get 0.0120% / 8h	2h 23m	$331K	$1.1M	20x
Short	Deribit META_USDC-PERPETUAL	743.40	0	get 0.0000% / 1h	23m 53s	$31K	$264K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now −0.083%Rate

Funding earned: $25.2
Price spread: −0.083% → −0.072%: −$1.1
Slippage, 4 orders: −$11.97
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$6.87
Costs to cover: 0.310%
Break-even: 8.9 days

Slippage from BloFin: live order book, 3 min ago; Deribit: live order book, 25 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 BloFin live order book, 3 min ago	0.07 bp	7.9 bp −$8	13.0 bp −$130	doesn't fit	doesn't fit
Sell Deribit live order book, 25 min ago	0.07 bp	3.6 bp −$4	4.8 bp −$48	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-USDTlong	−0.0120%	8h	744.02	long leg	$331K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	744.25	+0.031%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.46	−0.075%	$544K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.68	−0.045%	$27.6M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.75	−0.036%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.71	−0.042%	$6.0M	$12.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.25	−0.103%	$440K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.76	−0.035%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	743.94	−0.010%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.10	−0.123%	$12K	$442K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	743.94	−0.011%	$782	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUALshort	0.0000%	1h	743.40	−0.083%	$31K	$264K	10x
HTX META-USDT	0.0000%	8h	743.48	−0.073%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.27	−0.101%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0020%	1h	743.68	−0.045%	$481K	$558K	20x	as long as short
Lighter RH META	+0.0032%	1h	743.92	−0.013%	$769K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.21	−0.109%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.16	+0.019%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	743.69	−0.044%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.72	−0.040%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.38	−0.086%	$585K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.72	−0.040%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.52	−0.067%	$736K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0075%	8h	743.78	−0.033%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	744.33	+0.041%	$51K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.69	−0.044%	$1.6M	$646K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.02	−0.134%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.78	−0.032%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.65	−0.050%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.58	−0.059%	$655K	$7.8M	10x	as long as short
edgeX METAUSDC	+0.0212%	4h	743.26	−0.102%	$62K	$339K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.90	+0.253%	$172K	$46K	30x	as long as short
Lighter META	+0.0312%	1h	744.07	+0.007%	$1.0M	$2.6M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	744.14	+0.016%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0437%	1h	744.07	+0.007%	$74.8M	$124.9M	20x	as long as short
Phoenix META	+0.0685%	1h	744.15	+0.017%	$795K	$1.4M	20x	as long as short