Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0114%/8h= −12.4% APRpaid last 24h +0.016%

Price spread now: Deribit against HTX−0.027%7-day average −0.039% · 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−$31as in the Price arb table

costs, in and out, $10k−$320.325% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.025%+$2 on $10k

Price spread, last 4 days (all we have)+0.055%+$6 · spread now −0.027%, 7d avg −0.039%

Together, before fees+0.080%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.039%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX META-USDT	742.48	0	get 0.0000% / 8h	5h 04m	$106K	$296K	30x
Short	Deribit META_USDC-PERPETUAL	742.28	−0.0114	pay 0.0014% / 1h	4m 09s	$31K	$245K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$23.86
Price spread: −0.027% → −0.039%: $1.24
Slippage, 4 orders: −$13.45
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$55.07
Costs to cover: 0.325%
Break-even: never at this rate

Slippage from HTX: live order book, 58 min ago; Deribit: live order book, 59 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 HTX live order book, 58 min ago	2.70 bp	10.1 bp −$10	16.9 bp −$169	doesn't fit	doesn't fit
Sell Deribit live order book, 59 min ago	0.07 bp	3.6 bp −$4	5.1 bp −$51	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	743.01	+0.071%	$330K	$1.1M	20x	as long as short
Deribit META_USDC-PERPETUALshort	−0.0114%	1h	742.28	−0.027%	$31K	$245K	10x
Nado META-PERP	−0.0028%	1h	742.67	+0.026%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.47	−0.001%	$467K	$550K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.54	+0.008%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.76	+0.038%	$27.4M	$179.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.54	+0.008%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.92	+0.059%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.41	−0.009%	$362K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.85	+0.050%	$5.5M	$11.5M	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	742.77	+0.039%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.81	−0.090%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.79	+0.042%	$983	$9.1M	20x	as long as short
HTX META-USDTlong	0.0000%	8h	742.48	long leg	$106K	$296K	30x
Phemex METAUSDT	0.0000%	4h	742.77	+0.039%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.99	+0.069%	$768K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	742.63	+0.020%	$2.1M	$13.6M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.16	−0.043%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.08	+0.081%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.85	+0.050%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.48	0.000%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.83	+0.047%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.25	−0.031%	$721K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	742.74	+0.035%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.87	+0.052%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.46	−0.003%	$613K	$7.2M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.66	+0.024%	$1.6M	$528K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.06	−0.191%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.70	+0.030%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.53	+0.007%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.07	−0.055%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0240%	1h	742.90	+0.057%	$33K	$105	20x	as long as short
Lighter META	+0.0256%	1h	742.97	+0.066%	$862K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0329%	1h	742.75	+0.036%	$69.4M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	742.66	+0.024%	$591K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0769%	4h	742.22	−0.035%	$62K	$336K	10x	as long as short