Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0153%/8h= −16.7% APRpaid last 24h +0.003%

Price spread now: Deribit against SunX−0.050%7-day average −0.076% · 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−$73as in the Price arb table

costs, in and out, $10k−$750.751% of the position

Long on SunX Short on Deribit

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)−0.013%−$1 · spread now −0.050%, 7d avg −0.076%

Together, before fees+0.008%+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.026% dearer against SunX than usual: you sell high and buy low (spread −0.050% now, against its 7-day average of −0.076%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 14 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	744.94	0	get 0.0000% / 8h	1h 27m	$608	$8.2M	20x
Short	Deribit META_USDC-PERPETUAL	744.57	−0.0153	pay 0.0019% / 1h	27m 46s	$34K	$275K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$32.08
Price spread: −0.050% → −0.076%: $2.61
Slippage, 4 orders: −$60.15
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$104.61
Costs to cover: 0.751%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Deribit: live order book, 16 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 SunX live order book, 11 min ago	28.12 bp	32.1 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 16 min ago	0.07 bp	7.3 bp −$7	11.4 bp −$114	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
Deribit META_USDC-PERPETUALshort	−0.0153%	1h	744.57	−0.050%	$34K	$275K	10x
BloFin META-USDT	−0.0120%	8h	744.93	−0.001%	$333K	$1.1M	20x	as long as short
Nado META-PERP	−0.0043%	1h	744.88	−0.008%	$482K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.42	+0.065%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.97	+0.004%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.18	+0.032%	$25.0M	$188.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.08	+0.019%	$7.3M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.18	+0.032%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.54	−0.054%	$460K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.04	+0.013%	$5.6M	$12.4M	100x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	744.51	−0.057%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.76	−0.025%	$12K	$439K	10x	as long as short
SunX META-USDTlong	0.0000%	8h	744.94	long leg	$608	$8.2M	20x
HTX META-USDT	0.0000%	8h	744.88	−0.008%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.90	−0.005%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.84	−0.013%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.53	+0.079%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.59	−0.047%	$112K	$340K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.49	+0.074%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.06	+0.016%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.64	−0.040%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.01	+0.009%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.58	−0.048%	$696K	$5.3M	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	745.10	+0.022%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.50	+0.075%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.08	+0.019%	$1.6M	$681K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.69	−0.034%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.99	+0.007%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.87	−0.009%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.50	−0.059%	$655K	$8.0M	10x	as long as short
edgeX METAUSDC	+0.0170%	4h	744.61	−0.044%	$62K	$345K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.56	+0.217%	$172K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	745.68	+0.099%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0360%	1h	745.52	+0.078%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0490%	1h	745.63	+0.093%	$77.6M	$127.7M	20x	as long as short
Phoenix META	+0.0739%	1h	746.25	+0.176%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	744.94	0.000%	$13	$46	—	as long as short