META

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0408%/8h= +44.7% APRnext payment +$0.51 per $10,000 · paid last 24h +0.018%

Price spread now: Popdex against Deribit−0.078%7-day average +0.062% · 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−$38as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Deribit Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.058%+$6 on $10k

Price spread, last 4 days (all we have)+0.071%+$7 · spread now −0.078%, 7d avg +0.062%

Together, before fees+0.129%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Popdex is 0.140% cheaper against Deribit than usual: you would sell low and buy high (spread −0.078% now, against its 7-day average of +0.062%). If the spread goes back, that is −$14 on $10k: about 27 hours of funding at the current rate (+$12 a day). At the pace of the last 4 days (+0.058% in total) that is about 9.0 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.058% in total (about 5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.51 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	746.54	0	get 0.0000% / 1h	59m 25s	$34K	$276K	10x
Short	Popdex METAUSDT	745.96	0.0408	get 0.0051% / 1h	59m 25s	$177K	$202K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.078%Rate

Funding earned: $85.68
Price spread: −0.078% → +0.062%: −$14.02
Slippage, 4 orders: −$10.56
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: $47.7
Costs to cover: 0.240%
Break-even: 3.1 days

Slippage from Deribit: live order book, 39 min ago; Popdex: live order book, 39 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, 39 min ago	0.07 bp	10.3 bp −$10	13.1 bp −$131	doesn't fit	doesn't fit
Sell Popdex live order book, 39 min ago	0.87 bp	4.3 bp −$4	7.5 bp −$75	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
BloFin META-USDT	−0.0120%	8h	747.59	+0.141%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.47	−0.009%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.22	−0.043%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.96	−0.078%	$25.4M	$190.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.14	−0.054%	$7.5M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.87	−0.090%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.63	+0.012%	$474K	$6.1M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.80	−0.099%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	747.50	+0.129%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.70	+0.155%	$12K	$439K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado META-PERP	0.0000%	1h	745.75	−0.106%	$481K	$560K	20x	as long as short
SunX META-USDT	0.0000%	8h	747.17	+0.084%	$765	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUALlong	0.0000%	1h	746.54	long leg	$34K	$276K	10x
HTX META-USDT	0.0000%	8h	747.39	+0.114%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.30	+0.102%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.77	−0.103%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0040%	1h	746.57	+0.004%	$797K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.89	−0.087%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.26	−0.038%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.02	−0.204%	$567K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	747.18	+0.086%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.11	−0.058%	$729K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	745.87	−0.090%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.41	−0.017%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	746.59	+0.006%	$633	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.26	−0.038%	$1.6M	$735K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.64	+0.013%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.21	+0.090%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	747.13	+0.079%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.42	−0.016%	$643K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.54	+0.402%	$177K	$51K	30x	as long as short
Popdex METAUSDTshort	+0.0408%	1h	745.96	−0.078%	$177K	$202K	20x
Lighter META	+0.0448%	1h	746.30	−0.032%	$1.1M	$2.8M	20x	as long as short
tradeXYZ xyz:META	+0.0679%	1h	745.94	−0.080%	$84.7M	$132.6M	20x	as long as short
Phoenix META	+0.0750%	1h	748.38	+0.246%	$799K	$1.5M	20x	as long as short
Hotstuff META-PERP	+0.0776%	1h	746.46	−0.011%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0907%	4h	746.95	+0.054%	$62K	$345K	10x	as long as short