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 −0.008%

Price spread now: Lighter RH against Bybit+0.030%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$260.259% of the position

Long on Bybit Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.022%−$2 · spread now +0.030%, 7d avg +0.011%

Together, before fees+0.030%+ Points / potential airdropLighter RH: Points live · farm board+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit METAUSDT	740.52	0	get 0.0000% / 8h	2h 01m	$7.4M	$13.9M	100x
Short	Lighter RH META	740.74	0.0032	get 0.0004% / 1h	1m 23s	$748K	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Bybit. 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 BybitbpFee Lighter RHbpOrdersPrice spread, now +0.030%Rate

Funding earned: $6.72
Price spread: +0.030% → +0.011%: $1.87
Slippage, 4 orders: −$14.94
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$17.36
Costs to cover: 0.259%
Break-even: 25.1 days

Slippage from Bybit: live order book, 2 min ago; Lighter RH: live order book, 2 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 Bybit live order book, 2 min ago	0.81 bp	9.7 bp −$10	17.0 bp −$170	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	2.50 bp	2.9 bp −$3	5.9 bp −$59	46.9 bp −$4,692	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	740.47	−0.007%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0103%	1h	740.29	−0.031%	$397K	$317K	20x	as long as short
Hotstuff META-PERP	−0.0040%	1h	740.66	+0.019%	$33K	$105	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.96	+0.059%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.46	−0.008%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.53	+0.001%	$26.9M	$177.5M	20x	as long as short
Bybit METAUSDTlong	0.0000%	8h	740.52	long leg	$7.4M	$13.9M	100x
OKX META-USDT-SWAP	0.0000%	8h	740.45	−0.009%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.98	−0.073%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.58	+0.008%	$5.8M	$11.0M	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	740.46	−0.008%	$1.6M	$2.5M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.42	−0.014%	$12K	$521K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.96	+0.059%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.55	+0.004%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.35	−0.023%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.50	−0.003%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.44	−0.011%	$2.2M	$14.2M	10x	as long as short
Lighter META	+0.0032%	1h	740.73	+0.028%	$860K	$2.6M	20x	as long as short
Lighter RH METAshort	+0.0032%	1h	740.74	+0.030%	$748K	$3.2M	20x
Arcus META-USD	+0.0040%	1h	740.29	−0.031%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.91	+0.053%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.52	0.000%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.62	+0.014%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.43	−0.012%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.38	−0.019%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.24	−0.038%	$649K	$4.0M	10x	as long as short
Aftermath Perps METAUSD	+0.0052%	1h	741.03	+0.069%	$45K	$61K	10x	as long as short
tradeXYZ xyz:META	+0.0053%	1h	740.70	+0.024%	$68.5M	$120.6M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	740.26	−0.035%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.62	+0.014%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.32	−0.027%	$1.6M	$354K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.21	−0.042%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.50	−0.003%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.34	−0.024%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.24	−0.038%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0972%	4h	740.41	−0.014%	$62K	$330K	10x	as long as short