META

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0048%/8h= +5.3% APRnext payment +$0.06 per $10,000 · paid last 24h −0.037%

Price spread now: Coinbase International against Lighter−0.065%7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.196%−$20 on $10k

Price spread, last 3 days (all we have)+0.218%+$22 · spread now −0.065%, 7d avg −0.087%

Together, before fees+0.022%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Coinbase International is 0.022% dearer against Lighter than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.087%. Mind the row above: over the last 7 days funding on this pair cost −0.196%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	740.74	0.0032	pay 0.0004% / 1h	11m 52s	$860K	$2.6M	20x
Short	Coinbase International META-PERP-INTX	740.26	0.0080	get 0.0010% / 1h	11m 52s	$607K	$7.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.065%Rate

Funding earned: $10.08
Price spread: −0.065% → −0.087%: $2.17
Slippage, 4 orders: −$8.73
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$6.47
Costs to cover: 0.187%
Break-even: 11.5 days

Slippage from Lighter: live order book, 5 min ago; Coinbase International: 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 Lighter live order book, 5 min ago	0.88 bp	2.0 bp −$2	3.4 bp −$34	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	2.16 bp	7.9 bp −$8	13.6 bp −$136	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
BloFin META-USDT	−0.0120%	8h	740.40	−0.046%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0110%	1h	740.38	−0.048%	$397K	$317K	20x	as long as short
Hotstuff META-PERP	−0.0016%	1h	740.76	+0.003%	$33K	$105	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.95	+0.029%	$457K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.37	−0.050%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.44	−0.041%	$26.9M	$177.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.40	−0.046%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.39	−0.047%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.19	−0.074%	$318K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.46	−0.038%	$5.8M	$11.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.42	−0.043%	$1.6M	$2.5M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.31	−0.058%	$12K	$525K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.93	+0.026%	$1K	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.57	−0.023%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.32	−0.057%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.43	−0.042%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0012%	1h	740.36	−0.051%	$2.2M	$14.2M	10x	as long as short
Lighter METAlong	+0.0032%	1h	740.74	long leg	$860K	$2.6M	20x
Lighter RH META	+0.0032%	1h	740.78	+0.005%	$740K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.27	−0.063%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.95	+0.028%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.42	−0.043%	$177K	$200K	20x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	740.73	−0.001%	$68.5M	$120.5M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.64	−0.014%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.45	−0.039%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.13	−0.082%	$641K	$4.0M	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.36	−0.051%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	740.98	+0.032%	$45K	$61K	10x	as long as short
Coinbase International META-PERP-INTXshort	+0.0080%	1h	740.26	−0.065%	$607K	$7.3M	10x
Phoenix META	+0.0097%	1h	740.50	−0.032%	$291K	$782K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.43	−0.042%	$1.6M	$353K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.32	−0.057%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.46	−0.038%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.37	−0.050%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.09	−0.088%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0274%	4h	740.35	−0.052%	$62K	$331K	10x	as long as short