META

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0128%/8h= +14.0% APRnext payment +$0.16 per $10,000 · paid last 24h −0.110%

Price spread now: Lighter against Extended+0.028%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$140.137% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now +0.028%, 7d avg +0.006%

Together, before fees−0.022%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter is 0.022% dearer against Extended than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended META_24_5-USD	740.16	0	get 0.0000% / 1h	21m 06s	$550K	$2.7M	17x
Short	Lighter META	740.36	0.0128	get 0.0016% / 1h	21m 06s	$860K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Extended. 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 ExtendedbpFee LighterbpOrdersPrice spread, now +0.028%Rate

Funding earned: $26.88
Price spread: +0.028% → +0.006%: $2.16
Slippage, 4 orders: −$8.68
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: $15.37
Costs to cover: 0.137%
Break-even: 3.0 days

Slippage from Extended: live order book, 3 min ago; Lighter: live order book, 6 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 Extended live order book, 3 min ago	0.74 bp	5.7 bp −$6	37.4 bp −$374	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.81 bp	1.0 bp −$1	2.6 bp −$26	doesn't fit	doesn't fit

META on 35 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	−0.0127%	1h	739.84	−0.043%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.47	+0.042%	$466K	$549K	20x	as long as short
Extended META_24_5-USDlong	0.0000%	1h	740.16	long leg	$550K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	740.37	+0.029%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.11	−0.006%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.29	+0.018%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.18	+0.003%	$353K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.31	+0.021%	$5.5M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	740.21	+0.008%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.46	+0.041%	$12K	$433K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	740.18	+0.003%	$494	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.76	−0.054%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.09	−0.009%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.79	+0.086%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.26	+0.014%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.41	+0.034%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.01	−0.020%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.42	+0.036%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.30	+0.019%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.10	−0.008%	$557K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.26	+0.014%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.99	−0.022%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	740.12	−0.004%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.89	+0.099%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.38	+0.030%	$1.6M	$484K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.81	−0.047%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.28	+0.017%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.09	−0.009%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.068%	$609K	$7.2M	10x	as long as short
Lighter METAshort	+0.0128%	1h	740.36	+0.028%	$860K	$2.4M	20x
Hotstuff META-PERP	+0.0136%	1h	740.34	+0.025%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.42	+0.306%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0246%	1h	740.39	+0.032%	$68.3M	$120.0M	20x	as long as short
Phoenix META	+0.0313%	1h	740.85	+0.094%	$425K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0547%	4h	740.36	+0.027%	$62K	$335K	10x	as long as short