META

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0278%/8h= −30.5% APRnext payment −$0.35 per $10,000 · paid last 24h −0.034%

Price spread now: Deribit against tradeXYZ−0.084%7-day average −0.030% · 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−$330.332% of the position

Long on tradeXYZ Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.095%−$9 on $10k

Price spread, last 3 days (all we have)+0.161%+$16 · spread now −0.084%, 7d avg −0.030%

Together, before fees+0.066%+ Points / potential airdroptradeXYZ: Active · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Deribit is 0.053% cheaper against tradeXYZ than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.030%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.095% in total (about -7.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.35 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	tradeXYZ xyz:META	740.65	0.0164	pay 0.0020% / 1h	0m 17s	$67.9M	$121.1M	20x
Short	Deribit META_USDC-PERPETUAL	740.03	−0.0115	pay 0.0014% / 1h	0m 17s	$30K	$246K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against tradeXYZ. 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 tradeXYZbpFee DeribitbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$58.44
Price spread: −0.084% → −0.030%: −$5.34
Slippage, 4 orders: −$8.15
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$96.93
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 9 min ago; Deribit: live order book, 8 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 tradeXYZ live order book, 9 min ago	0.14 bp	9.5 bp −$9	11.0 bp −$110	doesn't fit	doesn't fit
Sell Deribit live order book, 8 min ago	0.07 bp	3.6 bp −$4	4.7 bp −$47	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	740.39	−0.035%	$326K	$1.1M	20x	as long as short
Deribit META_USDC-PERPETUALshort	−0.0115%	1h	740.03	−0.084%	$30K	$246K	10x
Nado META-PERP	−0.0104%	1h	740.35	−0.040%	$491K	$525K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.42	−0.031%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.27	−0.051%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.46	−0.026%	$27.4M	$179.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.68	+0.004%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.25	−0.054%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.35	−0.041%	$351K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.46	−0.026%	$5.6M	$11.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.22	−0.059%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.87	+0.030%	$13K	$453K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.58	−0.009%	$821	$9.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.34	−0.042%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.52	−0.018%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	740.70	+0.007%	$753K	$3.2M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.87	+0.030%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.41	−0.032%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.28	−0.050%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.48	−0.023%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.97	−0.092%	$693K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.20	−0.061%	$2.2M	$14.1M	10x	as long as short
Paradex META-USD-PERP	+0.0059%	8h	740.33	−0.043%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	740.06	−0.080%	$110K	$331K	10x	as long as short
Hotstuff META-PERP	+0.0064%	1h	740.46	−0.026%	$33K	$105	20x	as long as short
Aftermath Perps METAUSD	+0.0067%	1h	740.98	+0.045%	$48K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.71	+0.008%	$1.6M	$456K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.26	−0.053%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.49	−0.022%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.32	−0.045%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	740.19	−0.062%	$610K	$7.4M	10x	as long as short
tradeXYZ xyz:METAlong	+0.0164%	1h	740.65	long leg	$67.9M	$121.1M	20x
Lighter META	+0.0184%	1h	740.67	+0.003%	$857K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.82	+0.293%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	741.55	+0.122%	$339K	$930K	20x	as long as short
edgeX METAUSDC	+0.0352%	4h	740.50	−0.020%	$62K	$336K	10x	as long as short