Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: Phemex against Deribit+0.082%7-day average +0.088% · 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−$103as in the Price arb table

costs, in and out, $10k−$1031.026% of the position

Long on Deribit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.021%−$2 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now +0.082%, 7d avg +0.088%

Together, before fees−0.049%−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit META_USDC-PERPETUAL	745.97	0	get 0.0000% / 1h	15m 44s	$31K	$247K	10x
Short	Phemex METAUSDT	746.58	0	get 0.0000% / 4h	3h 15m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.082%Rate

Funding earned: $0
Price spread: +0.082% → +0.088%: −$0.58
Slippage, 4 orders: −$83.63
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$103.21
Costs to cover: 1.026%
Break-even: never at this rate

Slippage from Deribit: live order book, 38 min ago; Phemex: live order book, 3 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, 38 min ago	0.07 bp	9.0 bp −$9	10.7 bp −$107	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	1.00 bp	42.6 bp −$43	doesn't fit	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	746.35	+0.051%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0003%	1h	746.08	+0.015%	$482K	$554K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.67	+0.094%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.32	+0.047%	$554K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.67	+0.093%	$28.5M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.71	+0.099%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.52	+0.074%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.03	+0.008%	$380K	$5.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.53	+0.076%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.41	+0.059%	$12K	$452K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.63	+0.088%	$722	$8.9M	20x	as long as short
Deribit META_USDC-PERPETUALlong	0.0000%	1h	745.97	long leg	$31K	$247K	10x
HTX META-USDT	0.0000%	8h	746.18	+0.028%	$106K	$303K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	746.58	+0.082%	$2.0M	$8K	10x
Bitget METAUSDT	+0.0025%	8h	746.48	+0.068%	$5.5M	$11.8M	100x	as long as short
Lighter RH META	+0.0032%	1h	746.80	+0.111%	$783K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.91	−0.008%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.55	+0.078%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.04	+0.009%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.49	+0.070%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.39	−0.078%	$787K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	746.43	+0.062%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	746.44	+0.063%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.63	+0.088%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0088%	1h	746.55	+0.078%	$180K	$200K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.60	+0.084%	$1.6M	$618K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.41	−0.075%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.33	+0.048%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.32	+0.046%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.72	−0.034%	$638K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.48	+0.336%	$173K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	746.42	+0.060%	$33K	$105	20x	as long as short
Lighter META	+0.0272%	1h	746.76	+0.106%	$867K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0320%	1h	746.77	+0.107%	$71.0M	$121.3M	20x	as long as short
edgeX METAUSDC	+0.0407%	4h	746.35	+0.051%	$62K	$338K	10x	as long as short
Phoenix META	+0.0633%	1h	747.26	+0.173%	$798K	$1.4M	20x	as long as short