Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0148%/8h= +16.2% APRpaid last 24h +0.018%

Price spread now: Lighter against KuCoin+0.075%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$660.662% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.067%−$7 on $10k

Price spread, last 7 days+0.001%$0 · spread now +0.075%, 7d avg +0.035%

Together, before fees−0.066%+ Points / potential airdropLighter: Season 3 · farm board−$7 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 0.040% dearer against KuCoin than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.035%. Mind the row above: over the last 7 days funding on this pair cost −0.067%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	744.81	0.0100	pay 0.0100% / 8h	3h 45m	$1.6M	$602K	20x
Short	Lighter META	745.37	0.0248	get 0.0031% / 1h	45m 40s	$864K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.075%Rate

Funding earned: $31.08
Price spread: +0.075% → +0.035%: $4.04
Slippage, 4 orders: −$54.21
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$31.1
Costs to cover: 0.662%
Break-even: 14.0 days

Slippage from KuCoin: live order book, just now; 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 KuCoin live order book, just now	3.89 bp	25.6 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.13 bp	0.2 bp $0	1.8 bp −$18	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	745.02	+0.028%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0014%	1h	744.71	−0.013%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.79	−0.003%	$469K	$554K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.96	+0.021%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.13	+0.043%	$28.4M	$183.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.93	+0.016%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.15	+0.046%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.37	−0.059%	$364K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.15	+0.046%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.99	+0.025%	$2.4M	$3.2M	—	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	743.99	−0.110%	$12K	$450K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.94	+0.017%	$702	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.57	−0.032%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.00	+0.026%	$106K	$302K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.07	+0.035%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	745.41	+0.081%	$782K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.39	−0.056%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.27	+0.062%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.08	+0.036%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.79	−0.003%	$586K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.96	+0.020%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.20	−0.082%	$801K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	744.88	+0.009%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.11	+0.041%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0096%	8h	744.99	+0.024%	—	—	5x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	744.81	long leg	$1.6M	$602K	20x
ApeX Omni METAUSDT	+0.0100%	1h	743.08	−0.232%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.16	+0.047%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.98	+0.023%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	744.02	−0.106%	$617K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.08	−0.098%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	745.08	+0.036%	$33K	$105	20x	as long as short
Lighter METAshort	+0.0248%	1h	745.37	+0.075%	$864K	$2.4M	20x
tradeXYZ xyz:META	+0.0333%	1h	745.33	+0.070%	$70.1M	$121.0M	20x	as long as short
edgeX METAUSDC	+0.0484%	4h	743.90	−0.122%	$62K	$338K	10x	as long as short
Phoenix META	+0.0633%	1h	745.04	+0.031%	$762K	$1.4M	20x	as long as short