META

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0232%/8h= −25.4% APRnext payment −$0.29 per $10,000 · paid last 24h +0.006%

Price spread now: Arcus against Lighter−0.085%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$160.156% of the position

Long on Lighter Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.038%+$4 on $10k

Price spread, last 4 days (all we have)+0.194%+$19 · spread now −0.085%, 7d avg −0.013%

Together, before fees+0.232%+ Points / potential airdropLighter: Season 3 · farm board+$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Arcus is 0.072% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.013%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.038% in total (about 3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.29 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	743.89	0.0272	pay 0.0034% / 1h	19m 30s	$1.2M	$2.7M	20x
Short	Arcus META-USD	743.26	0.0040	get 0.0005% / 1h	19m 30s	$111K	$284K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Lighter. 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 LighterbpFee ArcusbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$48.66
Price spread: −0.085% → −0.013%: −$7.17
Slippage, 4 orders: −$11.11
Fee Lighter: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$71.44
Costs to cover: 0.156%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Arcus: live order book, 32 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 Lighter live order book, 6 min ago	0.61 bp	0.8 bp −$1	1.7 bp −$17	doesn't fit	doesn't fit
Sell Arcus live order book, 32 min ago	2.08 bp	9.3 bp −$9	10.0 bp −$100	20.6 bp −$2,059	doesn't fit

META on 37 exchanges

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	743.76	−0.017%	$337K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.97	+0.146%	$495K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.44	−0.061%	$544K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.65	−0.032%	$26.0M	$192.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.54	−0.047%	$7.7M	$15.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.60	−0.039%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.16	−0.098%	$456K	$6.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.64	−0.034%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	743.55	−0.045%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.88	−0.001%	$12K	$433K	10x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	743.97	+0.011%	$942	$7.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.36	−0.071%	$36K	$265K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.41	−0.065%	$108K	$299K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.90	+0.001%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.75	−0.019%	$821K	$2.8M	20x	as long as short
Nado META-PERP	+0.0040%	1h	743.43	−0.062%	$477K	$551K	20x	as long as short
Arcus META-USDshort	+0.0040%	1h	743.26	−0.085%	$111K	$284K	10x
QFEX META-USD	+0.0041%	1h	743.64	−0.034%	$2.2M	$14.0M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.12	+0.031%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.66	−0.031%	$179K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.32	−0.077%	$560K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.59	−0.040%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.04	−0.114%	$704K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0052%	8h	743.51	−0.052%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0075%	1h	744.42	+0.071%	$52K	$77K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	743.43	−0.062%	$652K	$7.8M	10x	as long as short
Pacifica META	+0.0100%	1h	743.60	−0.038%	$634	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.72	−0.023%	$1.6M	$837K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.26	−0.085%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.70	−0.026%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.43	−0.061%	$268	—	10x	as long as short
Hotstuff META-PERP	+0.0192%	1h	743.66	−0.031%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.07	+0.159%	$168K	$60K	30x	as long as short
tradeXYZ xyz:META	+0.0259%	1h	743.59	−0.040%	$86.1M	$135.0M	20x	as long as short
Lighter METAlong	+0.0272%	1h	743.89	long leg	$1.2M	$2.7M	20x
Phoenix META	+0.0643%	1h	744.54	+0.087%	$795K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0721%	4h	743.57	−0.043%	$62K	$348K	10x	as long as short