Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.013%

Price spread now: Lighter RH against KuCoin+0.022%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$730.733% of the position

Long on KuCoin Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.133%−$13 on $10k

Price spread, last 7 days−0.010%−$1 · spread now +0.022%, 7d avg +0.044%

Together, before fees−0.144%+ Points / potential airdropLighter RH: Points live · farm board−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter RH is 0.022% cheaper against KuCoin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.044%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METAUSDTM	742.20	0.0100	pay 0.0100% / 8h	5h 26m	$1.6M	$519K	20x
Short	Lighter RH META	742.36	0.0032	get 0.0004% / 1h	26m 33s	$764K	$3.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$14.28
Price spread: +0.022% → +0.044%: −$2.21
Slippage, 4 orders: −$61.28
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$89.77
Costs to cover: 0.733%
Break-even: never at this rate

Slippage from KuCoin: live order book, 9 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 KuCoin live order book, 9 min ago	3.64 bp	22.5 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	2.02 bp	2.2 bp −$2	4.8 bp −$48	46.5 bp −$4,651	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	742.22	+0.003%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0024%	1h	741.65	−0.074%	$479K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	−0.059%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.02	−0.025%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.27	+0.010%	$27.4M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.98	−0.030%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.25	+0.007%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.76	−0.059%	$345K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.03	−0.023%	$5.5M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	742.15	−0.007%	$2.3M	$3.1M	—	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	742.16	−0.006%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.39	+0.026%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.95	−0.034%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.60	+0.054%	$2.0M	$8K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0020%	1h	741.58	−0.084%	$31K	$245K	10x	as long as short
Lighter RH METAshort	+0.0032%	1h	742.36	+0.022%	$764K	$3.0M	20x
QFEX META-USD	+0.0032%	1h	742.00	−0.027%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.68	−0.070%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.29	+0.012%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.32	+0.016%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.95	−0.034%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.18	−0.003%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.34	−0.116%	$721K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	742.05	−0.020%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.63	+0.058%	$50K	$82K	10x	as long as short
edgeX METAUSDC	+0.0086%	4h	742.47	+0.036%	$62K	$334K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.03	−0.023%	$624K	$7.2M	10x	as long as short
KuCoin METAUSDTMlong	+0.0100%	8h	742.20	long leg	$1.6M	$519K	20x
ApeX Omni METAUSDT	+0.0100%	1h	741.72	−0.065%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.04	−0.022%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.91	−0.039%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.40	−0.108%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0256%	1h	742.23	+0.004%	$33K	$105	20x	as long as short
Lighter META	+0.0264%	1h	742.31	+0.015%	$861K	$2.4M	20x	as long as short
tradeXYZ xyz:META	+0.0347%	1h	742.37	+0.023%	$69.3M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	743.31	+0.150%	$544K	$1.1M	20x	as long as short