Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.038%

Price spread now: Lighter against Aster−0.034%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1541.539% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now −0.034%, 7d avg −0.097%

Together, before fees+0.120%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.063% dearer against Aster than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.097%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster METAUSDT	740.80	0	get 0.0000% / 8h	2h 27m	$457K	$536K	20x
Short	Lighter META	740.55	0.0032	get 0.0004% / 1h	27m 24s	$860K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.034%Rate

Funding earned: $6.72
Price spread: −0.034% → −0.097%: $6.26
Slippage, 4 orders: −$145.93
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$140.95
Costs to cover: 1.539%
Break-even: 153.8 days

Slippage from Aster: live order book, 60 min ago; Lighter: live order book, 5 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 Aster live order book, 60 min ago	10.18 bp	91.9 bp −$92	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.68 bp	1.0 bp −$1	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
Nado META-PERP	−0.0131%	1h	740.35	−0.061%	$398K	$316K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.47	−0.045%	$330K	$1.1M	20x	as long as short
Aster METAUSDTlong	0.0000%	8h	740.80	long leg	$457K	$536K	20x
Extended META_24_5-USD	0.0000%	1h	740.20	−0.081%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.37	−0.058%	$26.8M	$177.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.31	−0.067%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.15	−0.088%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.07	−0.099%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.35	−0.061%	$5.7M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.43	−0.050%	$1.6M	$2.5M	—	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	740.41	−0.054%	$12K	$529K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.78	−0.003%	$736	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.42	−0.052%	$30K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.12	−0.092%	$105K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.29	−0.069%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.32	−0.065%	$2.2M	$14.2M	10x	as long as short
edgeX METAUSDC	+0.0026%	4h	740.40	−0.055%	$62K	$330K	10x	as long as short
Lighter METAshort	+0.0032%	1h	740.55	−0.034%	$860K	$2.6M	20x
Lighter RH META	+0.0032%	1h	740.55	−0.034%	$738K	$3.2M	20x	as long as short
Hotstuff META-PERP	+0.0040%	1h	740.48	−0.044%	$33K	$105	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.14	−0.089%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.04	+0.032%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.34	−0.062%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.53	−0.037%	$68.5M	$120.3M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.42	−0.052%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.33	−0.064%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.38	−0.057%	$639K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	740.16	−0.087%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	740.98	+0.024%	$45K	$60K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	740.26	−0.073%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.53	−0.037%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.32	−0.065%	$1.6M	$352K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.69	−0.015%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.45	−0.048%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.34	−0.062%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.31	−0.067%	$168K	$46K	30x	as long as short