META

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0657%/8h= −72.0% APRnext payment −$0.82 per $10,000 · paid last 24h −0.054%

Price spread now: Deribit against tradeXYZ−0.146%7-day average −0.035% · 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−$41as in the Price arb table

costs, in and out, $10k−$300.301% of the position

Long on tradeXYZ Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.122%−$12 on $10k

Price spread, last 4 days (all we have)+0.224%+$22 · spread now −0.146%, 7d avg −0.035%

Together, before fees+0.102%+ Points / potential airdroptradeXYZ: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Deribit is 0.112% cheaper against tradeXYZ than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.035%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.122% in total (about -9.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.82 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	tradeXYZ xyz:META	745.07	0.0518	pay 0.0065% / 1h	38m 12s	$77.1M	$127.2M	20x
Short	Deribit META_USDC-PERPETUAL	743.98	−0.0140	pay 0.0017% / 1h	38m 12s	$34K	$274K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against tradeXYZ. 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 tradeXYZbpFee DeribitbpOrdersPrice spread, now −0.146%Rate

Funding earned: −$138
Price spread: −0.146% → −0.035%: −$11.16
Slippage, 4 orders: −$5.12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$179.27
Costs to cover: 0.301%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 12 min ago; Deribit: live order book, 5 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 tradeXYZ live order book, 12 min ago	0.27 bp	9.4 bp −$9	11.2 bp −$112	doesn't fit	doesn't fit
Sell Deribit live order book, 5 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
Deribit META_USDC-PERPETUALshort	−0.0140%	1h	743.98	−0.146%	$34K	$274K	10x
BloFin META-USDT	−0.0120%	8h	745.09	+0.003%	$334K	$1.1M	20x	as long as short
Nado META-PERP	−0.0025%	1h	744.85	−0.029%	$482K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.52	+0.061%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.42	−0.087%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.59	−0.064%	$25.2M	$187.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.58	−0.066%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.81	−0.035%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.46	−0.082%	$458K	$6.1M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.93	−0.019%	$5.5M	$12.3M	100x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	745.20	+0.018%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.38	+0.041%	$13K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.52	−0.074%	$740	$8.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	744.37	−0.094%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.27	+0.027%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.64	−0.058%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.00	−0.009%	$786K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.78	−0.039%	$109K	$333K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.31	+0.032%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.78	−0.039%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.46	−0.082%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.64	−0.058%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.15	−0.123%	$711K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0063%	8h	744.85	−0.030%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.70	+0.084%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.97	−0.013%	$1.6M	$676K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.58	−0.066%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.80	−0.036%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.60	−0.062%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.43	+0.048%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.64	+0.479%	$173K	$46K	30x	as long as short
Lighter META	+0.0384%	1h	745.14	+0.009%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0384%	1h	745.48	+0.055%	$33K	$105	20x	as long as short
tradeXYZ xyz:METAlong	+0.0518%	1h	745.07	long leg	$77.1M	$127.2M	20x
Phoenix META	+0.0739%	1h	746.43	+0.183%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0790%	4h	745.22	+0.020%	$62K	$342K	10x	as long as short
Pacifica META	+0.0800%	1h	744.88	−0.026%	—	—	—	as long as short