Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0710%/8h= +77.8% APRpaid last 24h +0.077%

Price spread now: edgeX against Deribit+0.025%7-day average +0.051% · 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−$37as in the Price arb table

costs, in and out, $10k−$340.345% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.474%+$47 on $10k

Price spread, last 3 days (all we have)−0.093%−$9 · spread now +0.025%, 7d avg +0.051%

Together, before fees+0.381%+ Points / potential airdropedgeX: Active · farm board+$38 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.027% cheaper against Deribit than usual: you would sell low and buy high (spread +0.025% now, against its 7-day average of +0.051%). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$21 a day). At the pace of the last 5 days (+0.474% in total) that is about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit META_USDC-PERPETUAL	743.17	0	get 0.0000% / 1h	38m 37s	$30K	$257K	10x
Short	edgeX METAUSDC	743.35	0.0710	get 0.0355% / 4h	38m 37s	$62K	$331K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.025%Rate

Funding earned: $149.16
Price spread: +0.025% → +0.051%: −$2.68
Slippage, 4 orders: −$18.49
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $111.99
Costs to cover: 0.345%
Break-even: 1.7 days

Slippage from Deribit: live order book, 40 min ago; edgeX: live order book, 40 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, 40 min ago	0.07 bp	3.6 bp −$4	5.6 bp −$56	doesn't fit	doesn't fit
Sell edgeX live order book, 40 min ago	5.13 bp	9.7 bp −$10	11.2 bp −$112	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	743.43	+0.035%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0076%	1h	743.21	+0.005%	$392K	$329K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.50	+0.044%	$459K	$537K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.39	+0.030%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.02	−0.020%	$27.4M	$179.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.91	−0.035%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.01	−0.022%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.17	0.000%	$345K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.76	−0.055%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	743.32	+0.020%	$2.3M	$3.2M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	743.64	+0.063%	$12K	$486K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.33	+0.022%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUALlong	0.0000%	1h	743.17	long leg	$30K	$257K	10x
HTX META-USDT	0.0000%	8h	743.30	+0.017%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.51	+0.046%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	743.43	+0.035%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	743.08	−0.012%	$756K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	742.35	−0.110%	$110K	$472K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.85	+0.091%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.45	+0.038%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.44	+0.036%	$543K	$841K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.50	+0.044%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.28	−0.120%	$769K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	742.75	−0.057%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0062%	1h	744.22	+0.142%	$49K	$75K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	743.28	+0.015%	$610K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.27	+0.013%	$1.6M	$380K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.98	−0.026%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.43	+0.035%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.37	+0.027%	$268	—	10x	as long as short
Lighter META	+0.0128%	1h	742.95	−0.030%	$859K	$2.6M	20x	as long as short
Phoenix META	+0.0129%	1h	743.86	+0.093%	$293K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0136%	1h	743.63	+0.062%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.83	+0.358%	$170K	$46K	30x	as long as short
tradeXYZ xyz:META	+0.0226%	1h	743.12	−0.007%	$67.6M	$122.3M	20x	as long as short
edgeX METAUSDCshort	+0.0710%	4h	743.35	+0.025%	$62K	$331K	10x