Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.033%

Price spread now: Lighter against Bitget+0.034%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.125%+$13 on $10k

Price spread, last 4 days (all we have)−0.172%−$17 · spread now +0.034%, 7d avg −0.024%

Together, before fees−0.046%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.058% dearer against Bitget than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget METAUSDT	740.70	0	get 0.0000% / 8h	1h 32m	$5.8M	$11.0M	100x
Short	Lighter META	740.95	0.0080	get 0.0010% / 1h	32m 53s	$862K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.034%Rate

Funding earned: $16.8
Price spread: +0.034% → −0.024%: $5.77
Slippage, 4 orders: −$8.62
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $1.95
Costs to cover: 0.206%
Break-even: 6.2 days

Slippage from Bitget: live order book, 1 min ago; Lighter: live order book, 4 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 Bitget live order book, 1 min ago	0.81 bp	9.2 bp −$9	16.3 bp −$163	34.5 bp −$3,450	doesn't fit
Sell Lighter live order book, 4 min ago	0.68 bp	0.9 bp −$1	2.5 bp −$25	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	740.52	−0.024%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0072%	1h	740.74	+0.006%	$395K	$317K	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0020%	1h	740.52	−0.024%	$30K	$256K	10x	as long as short
Aster METAUSDT	0.0000%	8h	741.42	+0.097%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.48	−0.030%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.61	−0.012%	$26.9M	$177.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.56	−0.019%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.65	−0.007%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.09	−0.082%	$329K	$5.4M	100x	as long as short
Bitget METAUSDTlong	0.0000%	8h	740.70	long leg	$5.8M	$11.0M	100x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.63	−0.009%	$1.6M	$2.6M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.39	−0.042%	$12K	$506K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.79	+0.012%	$666	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.25	−0.061%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.53	−0.023%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.68	−0.003%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.95	+0.034%	$744K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.18	−0.070%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.23	+0.072%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.61	−0.012%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.79	+0.012%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.61	−0.012%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.56	−0.019%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.30	−0.054%	$666K	$4.1M	10x	as long as short
Aftermath Perps METAUSD	+0.0054%	1h	740.95	+0.034%	$49K	$63K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.57	−0.018%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0065%	1h	740.33	−0.050%	$291K	$791K	20x	as long as short
Lighter METAshort	+0.0080%	1h	740.95	+0.034%	$862K	$2.5M	20x
KuCoin METAUSDTM	+0.0100%	8h	740.75	+0.007%	$1.6M	$361K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.19	−0.069%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.71	+0.001%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.69	−0.002%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0107%	1h	740.78	+0.011%	$68.4M	$120.6M	20x	as long as short
Hotstuff META-PERP	+0.0200%	1h	740.72	+0.003%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.28	−0.057%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0897%	4h	740.56	−0.018%	$62K	$331K	10x	as long as short