META

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0314%/8h= −34.3% APRnext payment −$0.39 per $10,000 · paid last 24h +0.007%

Price spread now: Deribit against Coinbase International−0.004%7-day average +0.048% · 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−$35as in the Price arb table

costs, in and out, $10k−$300.295% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.131%+$13 on $10k

Price spread, last 3 days (all we have)+0.034%+$3 · spread now −0.004%, 7d avg +0.048%

Together, before fees+0.166%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Deribit is 0.052% cheaper against Coinbase International than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.048%). Swap the legs. Mind the row above: over the last 5 days funding on this pair paid +0.131%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.131% in total (about 10.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.39 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	739.45	0.0104	pay 0.0013% / 1h	38m 36s	$609K	$7.2M	10x
Short	Deribit META_USDC-PERPETUAL	739.42	−0.0210	pay 0.0026% / 1h	38m 36s	$31K	$244K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Coinbase International. 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 Coinbase InternationalbpFee DeribitbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$65.86
Price spread: −0.004% → +0.048%: −$5.2
Slippage, 4 orders: −$12.54
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$100.59
Costs to cover: 0.295%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Deribit: live order book, 30 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 Coinbase International live order book, 5 min ago	2.16 bp	7.7 bp −$8	10.7 bp −$107	doesn't fit	doesn't fit
Sell Deribit live order book, 30 min ago	0.07 bp	3.6 bp −$4	4.7 bp −$47	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
Deribit META_USDC-PERPETUALshort	−0.0210%	1h	739.42	−0.004%	$31K	$244K	10x
Nado META-PERP	−0.0148%	1h	739.74	+0.040%	$478K	$547K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	739.99	+0.073%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.70	+0.168%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.65	+0.028%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.83	+0.052%	$27.3M	$179.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.92	+0.064%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.93	+0.065%	$5.9M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.59	+0.019%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.09	+0.087%	$5.5M	$11.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	739.73	+0.038%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	739.92	+0.064%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	739.97	+0.070%	$825	$9.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.35	+0.122%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.05	+0.081%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	739.87	+0.057%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.29	+0.114%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.54	+0.012%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.33	+0.119%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.90	+0.061%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.78	+0.045%	$557K	$855K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.92	+0.064%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.23	−0.030%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	739.72	+0.036%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	740.51	+0.143%	$49K	$80K	10x	as long as short
Lighter META	+0.0096%	1h	740.14	+0.093%	$855K	$2.4M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	739.94	+0.066%	$1.6M	$471K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.34	−0.015%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.99	+0.073%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.82	+0.050%	$266	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0104%	1h	739.45	long leg	$609K	$7.2M	10x
Hotstuff META-PERP	+0.0112%	1h	740.13	+0.092%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.58	+0.018%	$170K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0246%	1h	740.13	+0.092%	$68.3M	$120.3M	20x	as long as short
Phoenix META	+0.0313%	1h	740.70	+0.169%	$386K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0992%	4h	740.02	+0.077%	$62K	$334K	10x	as long as short