Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0338%/8h= −37.0% APRpaid last 24h −0.123%

Price spread now: Deribit against edgeX−0.067%7-day average −0.053% · 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−$36as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.546%−$55 on $10k

Price spread, last 4 days (all we have)+0.465%+$47 · spread now −0.067%, 7d avg −0.053%

Together, before fees−0.081%+ Points / potential airdropedgeX: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.053%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX METAUSDC	743.07	0.0338	pay 0.0169% / 4h	3h 18m	$63K	$347K	10x
Short	Deribit META_USDC-PERPETUAL	742.57	0	get 0.0000% / 1h	18m 50s	$36K	$270K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against edgeX. 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 edgeXbpFee DeribitbpOrdersPrice spread, now −0.067%Rate

Funding earned: −$70.9
Price spread: −0.067% → −0.053%: −$1.38
Slippage, 4 orders: −$18.13
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$106.4
Costs to cover: 0.341%
Break-even: never at this rate

Slippage from edgeX: live order book, 14 min ago; Deribit: live order book, 15 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 edgeX live order book, 14 min ago	5.11 bp	9.7 bp −$10	11.2 bp −$112	doesn't fit	doesn't fit
Sell Deribit live order book, 15 min ago	3.83 bp	7.3 bp −$7	8.4 bp −$84	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	742.89	−0.024%	$337K	$1.1M	20x	as long as short
Nado META-PERP	0.0000%	1h	742.53	−0.072%	$478K	$560K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.36	+0.039%	$478K	$620K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.77	−0.040%	$544K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.00	−0.010%	$25.8M	$191.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.88	−0.025%	$7.5M	$15.6M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.83	−0.032%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.51	−0.075%	$486K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.83	−0.032%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	743.23	+0.021%	$2.5M	$3.0M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	743.35	+0.038%	$12K	$437K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.37	+0.041%	$653	$7.7M	20x	as long as short
Deribit META_USDC-PERPETUALshort	0.0000%	1h	742.57	−0.067%	$36K	$270K	10x
HTX META-USDT	0.0000%	8h	742.69	−0.051%	$107K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.47	+0.054%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.96	−0.014%	$794K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.71	−0.048%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.54	−0.071%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.27	+0.027%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.82	−0.033%	$179K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.68	−0.052%	$565K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.69	−0.051%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.56	−0.068%	$741K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	742.73	−0.045%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	743.29	+0.030%	$51K	$93K	10x	as long as short
Pacifica META	+0.0100%	1h	742.73	−0.045%	$611	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.10	+0.004%	$1.6M	$779K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.75	−0.043%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.01	−0.008%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.81	−0.035%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	742.52	−0.074%	$627K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.78	+0.230%	$176K	$52K	30x	as long as short
Hotstuff META-PERP	+0.0272%	1h	743.09	+0.003%	$33K	$105	20x	as long as short
Lighter META	+0.0296%	1h	743.16	+0.012%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0300%	1h	742.78	−0.039%	$85.3M	$133.9M	20x	as long as short
edgeX METAUSDClong	+0.0338%	4h	743.07	long leg	$63K	$347K	10x
Phoenix META	+0.0791%	1h	743.95	+0.119%	$794K	$1.5M	20x	as long as short