Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.014%

Price spread now: Deribit against Bybit−0.072%7-day average −0.055% · 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−$33as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.146%+$15 · spread now −0.072%, 7d avg −0.055%

Together, before fees+0.142%+$14 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit METAUSDT	746.51	0	get 0.0000% / 8h	3h 16m	$7.5M	$14.5M	100x
Short	Deribit META_USDC-PERPETUAL	745.97	0	get 0.0000% / 1h	16m 04s	$31K	$247K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now −0.072%Rate

Funding earned: $0
Price spread: −0.072% → −0.055%: −$1.69
Slippage, 4 orders: −$12.93
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$32.61
Costs to cover: 0.309%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Deribit: live order book, 37 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 Bybit live order book, 2 min ago	0.20 bp	10.3 bp −$10	20.4 bp −$204	doesn't fit	doesn't fit
Sell Deribit live order book, 37 min ago	0.07 bp	3.6 bp −$4	5.7 bp −$57	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	746.35	−0.021%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0003%	1h	746.08	−0.058%	$482K	$554K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.67	+0.021%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.32	−0.025%	$554K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.53	+0.003%	$28.5M	$182.5M	20x	as long as short
Bybit METAUSDTlong	0.0000%	8h	746.51	long leg	$7.5M	$14.5M	100x
OKX META-USDT-SWAP	0.0000%	8h	746.52	+0.001%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.00	−0.068%	$380K	$5.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.33	−0.024%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.41	−0.013%	$12K	$452K	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	746.63	+0.016%	$722	$8.9M	20x	as long as short
Deribit META_USDC-PERPETUALshort	0.0000%	1h	745.97	−0.072%	$31K	$247K	10x
HTX META-USDT	0.0000%	8h	746.18	−0.044%	$106K	$303K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.58	+0.009%	$2.0M	$8K	10x	as long as short
Bitget METAUSDT	+0.0025%	8h	746.48	−0.004%	$5.5M	$11.8M	100x	as long as short
Lighter RH META	+0.0032%	1h	746.55	+0.005%	$783K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.91	−0.080%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.55	+0.005%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.04	−0.063%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.49	−0.003%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.39	−0.150%	$787K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	746.43	−0.011%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	746.44	−0.009%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.63	+0.016%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0088%	1h	746.55	+0.005%	$180K	$200K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.54	+0.004%	$1.6M	$618K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.41	−0.147%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.33	−0.024%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.32	−0.026%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.72	−0.106%	$638K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.48	+0.264%	$173K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	746.42	−0.012%	$33K	$105	20x	as long as short
Lighter META	+0.0272%	1h	746.52	+0.001%	$867K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0319%	1h	746.70	+0.025%	$70.9M	$121.3M	20x	as long as short
edgeX METAUSDC	+0.0407%	4h	746.35	−0.022%	$62K	$338K	10x	as long as short
Phoenix META	+0.0633%	1h	747.26	+0.100%	$798K	$1.4M	20x	as long as short