Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0208%/8h= −22.8% APRpaid last 24h −0.047%

Price spread now: BloFin against Lighter−0.001%210s7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$170.166% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.319%−$32 on $10k

Price spread, last 3 days (all we have)+0.096%+$10 · spread now −0.001%, 7d avg +0.034%

Together, before fees−0.223%+ Points / potential airdropLighter: Season 3 · farm board−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and BloFin is 0.036% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.034%). Swap the legs. The two prices were read 210 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	740.00	0.0088	pay 0.0011% / 1h	45m 49s	$856K	$2.4M	20x
Short	BloFin META-USDT	739.99	−0.0120	pay 0.0120% / 8h	6h 45m	$327K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$43.68
Price spread: −0.001% → +0.034%: −$3.57
Slippage, 4 orders: −$4.63
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$63.87
Costs to cover: 0.166%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; BloFin: 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 Lighter live order book, 6 min ago	0.74 bp	0.9 bp −$1	2.7 bp −$27	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.74 bp	7.9 bp −$8	11.4 bp −$114	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
Nado META-PERP	−0.0167%	1h	739.79	−0.028%	$478K	$546K	20x	as long as short
BloFin META-USDTshort	−0.0120%	8h	739.99	−0.001%	$327K	$1.1M	20x
Aster METAUSDT	0.0000%	8h	740.58	+0.078%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.86	−0.019%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.04	+0.005%	$27.4M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.10	+0.014%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.06	+0.008%	$5.9M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.85	−0.020%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.13	+0.018%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.01	+0.001%	$2.4M	$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	740.09	+0.012%	$13K	$446K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.20	+0.027%	$641	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.59	−0.055%	$30K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	739.86	−0.019%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.46	+0.062%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	739.88	−0.016%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.16	+0.022%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.73	−0.036%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.17	+0.023%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.13	+0.018%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.81	−0.026%	$557K	$855K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.98	−0.003%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.47	−0.072%	$692K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	739.94	−0.008%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0068%	1h	740.68	+0.091%	$49K	$80K	10x	as long as short
Lighter METAlong	+0.0088%	1h	740.00	long leg	$856K	$2.4M	20x
KuCoin METAUSDTM	+0.0100%	8h	740.13	+0.018%	$1.6M	$464K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.33	−0.091%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.02	+0.003%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.83	−0.023%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.05	+0.007%	$610K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0112%	1h	740.10	+0.014%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0197%	4h	740.06	+0.008%	$62K	$336K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.52	+0.341%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0250%	1h	740.13	+0.018%	$68.3M	$120.4M	20x	as long as short
Phoenix META	+0.0313%	1h	740.91	+0.123%	$368K	$1.1M	20x	as long as short