META

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0144%/8h= −15.8% APRnext payment −$0.18 per $10,000 · paid last 24h −0.024%

Price spread now: Deribit against Lighter−0.105%7-day average −0.037% · 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−$22as in the Price arb table

costs, in and out, $10k−$150.150% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.075%−$7 on $10k

Price spread, last 3 days (all we have)+0.142%+$14 · spread now −0.105%, 7d avg −0.037%

Together, before fees+0.068%+ Points / potential airdropLighter: Season 3 · farm board+$7 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 Deribit is 0.068% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	740.68	0.0144	pay 0.0018% / 1h	4m 06s	$860K	$2.4M	20x
Short	Deribit META_USDC-PERPETUAL	739.90	0	get 0.0000% / 1h	4m 06s	$31K	$244K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$30.24
Price spread: −0.105% → −0.037%: −$6.82
Slippage, 4 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$52.06
Costs to cover: 0.150%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Deribit: live order book, 64 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	0.14 bp	0.8 bp −$1	2.1 bp −$21	doesn't fit	doesn't fit
Sell Deribit live order book, 64 min ago	0.07 bp	3.6 bp −$4	4.7 bp −$47	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	−0.0115%	1h	740.07	−0.082%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.73	+0.007%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.27	−0.055%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.54	−0.019%	$27.3M	$178.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.44	−0.032%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.45	−0.031%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.15	−0.072%	$354K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.42	−0.035%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.47	−0.029%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.33	−0.047%	$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	−0.050%	$890	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUALshort	0.0000%	1h	739.90	−0.105%	$31K	$244K	10x
HTX META-USDT	0.0000%	8h	740.19	−0.066%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.44	−0.032%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.40	−0.038%	$2.2M	$13.7M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.59	−0.012%	$761K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.99	−0.093%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.58	−0.014%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.45	−0.031%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.22	−0.062%	$558K	$547K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.44	−0.032%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.94	−0.100%	$697K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	740.29	−0.053%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.87	+0.025%	$49K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.44	−0.032%	$1.6M	$496K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.73	−0.128%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.46	−0.030%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.27	−0.055%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	−0.003%	$609K	$7.1M	10x	as long as short
Hotstuff META-PERP	+0.0128%	1h	740.39	−0.039%	$33K	$105	20x	as long as short
Lighter METAlong	+0.0144%	1h	740.68	long leg	$860K	$2.4M	20x
Injective META/USDC PERP	+0.0220%	1h	742.18	+0.203%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0241%	1h	740.53	−0.020%	$68.3M	$119.7M	20x	as long as short
Phoenix META	+0.0313%	1h	741.05	+0.050%	$460K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0925%	4h	740.30	−0.051%	$62K	$335K	10x	as long as short