Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0400%/8h= +43.8% APRpaid last 24h +0.053%

Price spread now: Lighter against BloFin+0.001%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs+$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$150.147% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.327%+$33 on $10k

Price spread, last 4 days (all we have)−0.178%−$18 · spread now +0.001%, 7d avg −0.033%

Together, before fees+0.148%+ Points / potential airdropLighter: Season 3 · farm board+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Lighter is 0.035% dearer against BloFin than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin META-USDT	746.03	−0.0120	get 0.0120% / 8h	3h 26m	$329K	$1.1M	20x
Short	Lighter META	746.04	0.0280	get 0.0035% / 1h	26m 42s	$866K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.001%Rate

Funding earned: $84
Price spread: +0.001% → −0.033%: $3.45
Slippage, 4 orders: −$2.73
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $72.72
Costs to cover: 0.147%
Break-even: 0.9 days

Slippage from BloFin: live order book, 6 min ago; Lighter: live order book, 10 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 BloFin live order book, 6 min ago	0.07 bp	6.7 bp −$7	10.4 bp −$104	doesn't fit	doesn't fit
Sell Lighter live order book, 10 min ago	0.47 bp	0.5 bp −$1	2.0 bp −$20	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-USDTlong	−0.0120%	8h	746.03	long leg	$329K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	746.04	+0.001%	$470K	$555K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.69	−0.045%	$554K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.90	−0.017%	$28.5M	$183.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.90	−0.017%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.72	−0.042%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.60	−0.058%	$379K	$5.8M	100x	as long as short
Variational Omni META	0.0000%	8h	746.88	+0.115%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.71	+0.091%	$12K	$452K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.90	−0.017%	$914	$9.0M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.61	−0.056%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.75	−0.038%	$106K	$303K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.63	+0.080%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0001%	1h	745.80	−0.031%	$482K	$554K	20x	as long as short
Bitget METAUSDT	+0.0009%	8h	745.94	−0.012%	$5.5M	$11.8M	100x	as long as short
Lighter RH META	+0.0032%	1h	746.06	+0.004%	$783K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.02	−0.001%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.39	+0.048%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.66	−0.050%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.96	−0.009%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.42	−0.082%	$786K	$4.6M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	745.79	−0.032%	—	—	5x	as long as short
QFEX META-USD	+0.0058%	1h	746.28	+0.034%	$2.2M	$13.8M	10x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.69	+0.088%	$52K	$82K	10x	as long as short
edgeX METAUSDC	+0.0088%	4h	746.59	+0.075%	$62K	$336K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.96	−0.009%	$1.6M	$615K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.19	+0.021%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.94	−0.012%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.87	−0.022%	$269	—	10x	as long as short
Popdex METAUSDT	+0.0128%	1h	746.07	+0.005%	$180K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.68	−0.047%	$639K	$7.5M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.39	+0.048%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0264%	1h	746.15	+0.016%	$33K	$105	20x	as long as short
Lighter METAshort	+0.0280%	1h	746.04	+0.001%	$866K	$2.4M	20x
tradeXYZ xyz:META	+0.0334%	1h	745.73	−0.040%	$70.4M	$121.1M	20x	as long as short
Phoenix META	+0.0633%	1h	747.69	+0.223%	$798K	$1.4M	20x	as long as short