Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.033%

Price spread now: Bitget against Lighter−0.042%7-day average +0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$210.207% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.125%−$13 on $10k

Price spread, last 4 days (all we have)+0.256%+$26 · spread now −0.042%, 7d avg +0.025%

Together, before fees+0.131%+ Points / potential airdropLighter: Season 3 · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bitget is 0.066% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	740.63	0.0032	pay 0.0004% / 1h	29m 00s	$860K	$2.6M	20x
Short	Bitget METAUSDT	740.32	0	get 0.0000% / 8h	2h 29m	$5.7M	$11.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$6.72
Price spread: −0.042% → +0.025%: −$6.64
Slippage, 4 orders: −$8.66
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$34.02
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Bitget: live order book, 5 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, 3 min ago	0.68 bp	1.0 bp −$1	1.9 bp −$19	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.88 bp	9.1 bp −$9	19.3 bp −$193	45.4 bp −$4,540	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
Nado META-PERP	−0.0131%	1h	740.61	−0.003%	$399K	$316K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.47	−0.022%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.87	+0.032%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.19	−0.060%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.27	−0.049%	$26.8M	$177.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.32	−0.042%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.16	−0.063%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.80	−0.112%	$318K	$5.4M	100x	as long as short
Bitget METAUSDTshort	0.0000%	8h	740.32	−0.042%	$5.7M	$11.0M	100x
Variational Omni META	0.0000%	8h	740.43	−0.027%	$1.6M	$2.5M	—	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	740.41	−0.030%	$12K	$529K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.87	+0.032%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.43	−0.027%	$30K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	739.99	−0.086%	$105K	$282K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.23	−0.054%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.41	−0.030%	$2.2M	$14.2M	10x	as long as short
edgeX METAUSDC	+0.0026%	4h	740.40	−0.031%	$62K	$330K	10x	as long as short
Lighter METAlong	+0.0032%	1h	740.63	long leg	$860K	$2.6M	20x
Lighter RH META	+0.0032%	1h	740.65	+0.003%	$739K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.30	−0.045%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.16	+0.072%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.41	−0.030%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.42	−0.028%	$68.4M	$120.3M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.58	−0.007%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.27	−0.049%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.38	−0.034%	$639K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	740.39	−0.032%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	740.77	+0.019%	$45K	$60K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0080%	1h	740.26	−0.050%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0097%	1h	740.53	−0.014%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.28	−0.047%	$1.6M	$351K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.69	+0.008%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.50	−0.018%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.34	−0.039%	$267	—	10x	as long as short
Hotstuff META-PERP	+0.0160%	1h	740.60	−0.004%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.31	−0.043%	$168K	$46K	30x	as long as short