META

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0184%/8h= +20.1% APRnext payment +$0.23 per $10,000 · paid last 24h −0.019%

Price spread now: Lighter against Arcus+0.046%55s7-day average +0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.216% of the position

Long on Arcus Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.060%−$6 on $10k

Price spread, last 4 days (all we have)−0.155%−$16 · spread now +0.046%, 7d avg +0.008%

Together, before fees−0.216%+ Points / potential airdropLighter: Season 3 · farm board−$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.038% dearer against Arcus than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.008%. Mind the row above: over the last 4 days funding on this pair cost −0.060%, so the current rate has only just turned in your favour. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.060% in total (about -6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.23 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	Arcus META-USD	742.10	0.0040	pay 0.0005% / 1h	42m 49s	$110K	$330K	10x
Short	Lighter META	742.44	0.0224	get 0.0028% / 1h	42m 49s	$858K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Arcus. 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 ArcusbpFee LighterbpOrdersPrice spread, now +0.046%Rate

Funding earned: $38.58
Price spread: +0.046% → +0.008%: $3.77
Slippage, 4 orders: −$17.06
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Lighter: 0 bp × 2 orders: $0
Net: $20.79
Costs to cover: 0.216%
Break-even: 3.2 days

Slippage from Arcus: live order book, 16 min ago; Lighter: live order book, 9 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 Arcus live order book, 16 min ago	3.30 bp	8.7 bp −$9	14.0 bp −$140	doesn't fit	doesn't fit
Sell Lighter live order book, 9 min ago	0.40 bp	0.5 bp $0	1.7 bp −$17	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	742.44	+0.046%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0051%	1h	742.06	−0.006%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.40	+0.040%	$466K	$551K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.24	+0.019%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.29	+0.026%	$27.5M	$180.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.19	+0.012%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.28	+0.024%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.02	−0.011%	$363K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.47	+0.050%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.05	−0.006%	$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	742.33	+0.032%	$12K	$436K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.62	+0.070%	$979	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.80	−0.040%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.16	+0.008%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.73	+0.085%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.48	+0.051%	$765K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.23	+0.018%	$2.1M	$13.7M	10x	as long as short
Arcus META-USDlong	+0.0040%	1h	742.10	long leg	$110K	$330K	10x
Vest META-USD-PERP	+0.0046%	1h	742.50	+0.054%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.47	+0.050%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.14	+0.005%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.41	+0.042%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.82	−0.038%	$701K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0061%	8h	742.23	+0.018%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	743.15	+0.142%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.54	+0.059%	$1.6M	$535K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.34	−0.102%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.32	+0.030%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.20	+0.014%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	742.02	−0.011%	$614K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0120%	1h	742.47	+0.050%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.35	−0.101%	$171K	$48K	30x	as long as short
Lighter METAshort	+0.0224%	1h	742.44	+0.046%	$858K	$2.4M	20x
tradeXYZ xyz:META	+0.0263%	1h	742.34	+0.032%	$69.4M	$120.4M	20x	as long as short
Phoenix META	+0.0591%	1h	743.22	+0.151%	$639K	$1.2M	20x	as long as short
edgeX METAUSDC	+0.0605%	4h	742.41	+0.042%	$62K	$338K	10x	as long as short