META

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0267%/8h= +29.2% APRnext payment +$0.33 per $10,000 · paid last 24h +0.014%

Price spread now: Coinbase International against Deribit−0.007%7-day average −0.044% · 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−$27as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.123%−$12 on $10k

Price spread, last 4 days (all we have)−0.033%−$3 · spread now −0.007%, 7d avg −0.044%

Together, before fees−0.155%−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Coinbase International is 0.037% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.044%. Mind the row above: over the last 5 days funding on this pair cost −0.123%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.123% in total (about -9.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.33 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	Deribit META_USDC-PERPETUAL	745.45	−0.0139	get 0.0017% / 1h	5m 13s	$31K	$263K	10x
Short	Coinbase International META-PERP-INTX	745.40	0.0128	get 0.0016% / 1h	5m 13s	$656K	$7.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Deribit. 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 DeribitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.007%Rate

Funding earned: $56.04
Price spread: −0.007% → −0.044%: $3.7
Slippage, 4 orders: −$13.3
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $29.45
Costs to cover: 0.303%
Break-even: 3.3 days

Slippage from Deribit: live order book, 43 min ago; Coinbase International: live order book, 4 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 Deribit live order book, 43 min ago	0.07 bp	11.3 bp −$11	12.9 bp −$129	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	1.95 bp	8.0 bp −$8	10.2 bp −$102	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-PERPETUALlong	−0.0139%	1h	745.45	long leg	$31K	$263K	10x
BloFin META-USDT	−0.0120%	8h	745.91	+0.062%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0002%	1h	745.82	+0.049%	$483K	$557K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.83	+0.051%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.61	+0.021%	$549K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.83	+0.051%	$27.7M	$182.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.94	+0.066%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.05	+0.080%	$6.1M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.56	+0.015%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.98	+0.071%	$5.5M	$12.1M	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	746.12	+0.090%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.23	+0.104%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.72	+0.036%	$995	$8.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	745.60	+0.020%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.87	+0.056%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.18	+0.098%	$776K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.47	+0.003%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.36	+0.122%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.76	+0.042%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.89	+0.059%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.62	+0.023%	$587K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.78	+0.044%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.57	+0.016%	$752K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0067%	8h	746.01	+0.075%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	746.39	+0.126%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.81	+0.048%	$1.6M	$658K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.62	+0.023%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.85	+0.054%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.69	+0.032%	$268	—	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0128%	1h	745.40	−0.007%	$656K	$7.8M	10x
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.346%	$172K	$46K	30x	as long as short
Lighter META	+0.0304%	1h	746.25	+0.107%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	746.54	+0.146%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0453%	1h	746.30	+0.114%	$76.2M	$125.8M	20x	as long as short
edgeX METAUSDC	+0.0674%	4h	745.96	+0.068%	$62K	$340K	10x	as long as short
Phoenix META	+0.0685%	1h	747.34	+0.254%	$798K	$1.4M	20x	as long as short