Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.042%

Price spread now: Aster against Lighter+0.011%7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$740.740% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 4 days (all we have)+0.025%+$2 · spread now +0.011%, 7d avg +0.092%

Together, before fees−0.111%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Aster is 0.081% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.092%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	740.53	0.0120	pay 0.0015% / 1h	24m 30s	$856K	$2.4M	20x
Short	Aster METAUSDT	740.61	0	get 0.0000% / 8h	6h 24m	$466K	$549K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$25.2
Price spread: +0.011% → +0.092%: −$8.12
Slippage, 4 orders: −$66.03
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$107.35
Costs to cover: 0.740%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; Aster: live order book, 43 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, 2 min ago	0.81 bp	1.0 bp −$1	2.0 bp −$20	doesn't fit	doesn't fit
Sell Aster live order book, 43 min ago	6.28 bp	20.9 bp −$21	424.1 bp −$4,241	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	−0.0135%	1h	740.05	−0.065%	$478K	$549K	20x	as long as short
Aster METAUSDTshort	0.0000%	8h	740.61	+0.011%	$466K	$549K	20x
Extended META_24_5-USD	0.0000%	1h	740.34	−0.026%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.55	+0.003%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.43	−0.014%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.41	−0.016%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.28	−0.034%	$353K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.49	−0.005%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.67	+0.019%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.63	+0.014%	$12K	$432K	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	740.31	−0.030%	$1K	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.94	−0.080%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.29	−0.032%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.89	+0.049%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.37	−0.022%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.60	+0.009%	$751K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.18	−0.047%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.65	+0.016%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.52	−0.001%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.19	−0.046%	$558K	$847K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.41	−0.016%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.78	−0.101%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	740.38	−0.020%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	741.29	+0.102%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.44	−0.012%	$1.6M	$483K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.11	−0.057%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.39	−0.019%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.22	−0.041%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.018%	$609K	$7.2M	10x	as long as short
Lighter METAlong	+0.0120%	1h	740.53	long leg	$856K	$2.4M	20x
Hotstuff META-PERP	+0.0128%	1h	740.50	−0.004%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.96	+0.328%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0238%	1h	740.45	−0.011%	$68.3M	$119.9M	20x	as long as short
Phoenix META	+0.0313%	1h	741.24	+0.096%	$416K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0851%	4h	740.34	−0.025%	$62K	$334K	10x	as long as short