Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: Deribit against Gate+0.026%51s7-day average 0.000% · you sell dearer than you buy

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−$430.428% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.020%+$2 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now +0.026%, 7d avg 0.000%

Together, before fees+0.086%+$9 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 0.026% dearer against Gate than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of 0.000%. The two prices were read 51 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	Gate META_USDT	744.32	0	get 0.0000% / 8h	1h 23m	$460K	$6.2M	100x
Short	Deribit META_USDC-PERPETUAL	744.51	0	get 0.0000% / 1h	23m 19s	$34K	$275K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0
Price spread: +0.026% → 0.000%: $2.6
Slippage, 4 orders: −$20.77
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$40.17
Costs to cover: 0.428%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Deribit: live order book, 20 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 Gate live order book, 5 min ago	5.24 bp	18.2 bp −$18	43.2 bp −$432	doesn't fit	doesn't fit
Sell Deribit live order book, 20 min ago	0.07 bp	7.3 bp −$7	11.4 bp −$114	doesn't fit	doesn't fit

META on 37 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	744.90	+0.078%	$333K	$1.1M	20x	as long as short
Nado META-PERP	−0.0044%	1h	744.75	+0.058%	$480K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.17	+0.114%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.64	+0.044%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.81	+0.065%	$25.0M	$188.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.65	+0.044%	$7.3M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.09	+0.103%	$6.0M	$12.7M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	744.32	long leg	$460K	$6.2M	100x
Bitget METAUSDT	0.0000%	8h	744.98	+0.089%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.86	+0.073%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.95	+0.085%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.71	+0.052%	$789	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUALshort	0.0000%	1h	744.51	+0.026%	$34K	$275K	10x
HTX META-USDT	0.0000%	8h	744.51	+0.026%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.90	+0.078%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.62	+0.040%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.25	+0.125%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.59	+0.036%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.33	+0.136%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.82	+0.067%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.33	+0.001%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.88	+0.075%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.60	+0.038%	$685K	$5.3M	10x	as long as short
edgeX METAUSDC	+0.0052%	4h	745.04	+0.096%	$62K	$342K	10x	as long as short
Paradex META-USD-PERP	+0.0059%	8h	744.84	+0.070%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.82	+0.202%	$52K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.79	+0.063%	$1.6M	$685K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.59	+0.036%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.80	+0.064%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.69	+0.050%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.73	+0.055%	$650K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.56	+0.301%	$172K	$46K	30x	as long as short
Lighter META	+0.0352%	1h	745.40	+0.145%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0368%	1h	745.44	+0.150%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0485%	1h	745.26	+0.126%	$77.7M	$127.4M	20x	as long as short
Phoenix META	+0.0739%	1h	746.28	+0.263%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	744.99	+0.090%	$13	$46	—	as long as short