Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0161%/8h= +17.7% APRpaid last 24h −0.019%

Price spread now: Deribit against Orderly−0.051%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Deribit is 0.051% cheaper against Orderly than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 25 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_META_USDC_mythos	743.80	0.0100	pay 0.0100% / 8h	4h 13m	$1K	$24	10x
Short	Deribit META_USDC-PERPETUAL	743.42	0.0261	get 0.0033% / 1h	13m 17s	$31K	$246K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now −0.051%Rate

Funding earned: $33.9
Price spread: −0.051% → 0.000%: −$5.11
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $15.79
Costs to cover: 0.130%
Break-even: 3.7 days

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 45 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 45 min ago	0.07 bp	3.6 bp −$4	6.6 bp −$66	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	743.99	+0.026%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0016%	1h	743.30	−0.067%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.07	−0.098%	$468K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.70	−0.013%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.96	+0.021%	$28.0M	$182.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.86	+0.008%	$7.6M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.01	+0.028%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.41	−0.052%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.91	+0.015%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	743.81	+0.001%	$2.4M	$3.1M	—	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	744.01	+0.028%	$13K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.91	+0.015%	$848	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.94	+0.019%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.90	+0.013%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.87	+0.009%	$775K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.76	−0.005%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.55	−0.034%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.82	+0.003%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.97	+0.023%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.50	−0.040%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.91	+0.015%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.32	−0.065%	$800K	$4.5M	10x	as long as short
Paradex META-USD-PERP	+0.0074%	8h	743.78	−0.003%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	744.36	+0.076%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.82	+0.003%	$1.6M	$551K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.11	−0.093%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythoslong	+0.0100%	8h	743.80	long leg	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	743.62	−0.024%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	−0.005%	$615K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0168%	1h	743.97	+0.023%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.67	+0.386%	$172K	$48K	30x	as long as short
Deribit META_USDC-PERPETUALshort	+0.0261%	1h	743.42	−0.051%	$31K	$246K	10x
Lighter META	+0.0264%	1h	743.85	+0.007%	$865K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0279%	1h	743.66	−0.019%	$69.6M	$120.6M	20x	as long as short
edgeX METAUSDC	+0.0485%	4h	743.87	+0.009%	$62K	$338K	10x	as long as short
Phoenix META	+0.0591%	1h	744.70	+0.121%	$705K	$1.2M	20x	as long as short