Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h +0.059%

Price spread now: edgeX against Lighter+0.008%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs+$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.375%+$38 on $10k

Price spread, last 3 days (all we have)−0.013%−$1 · spread now +0.008%, 7d avg +0.014%

Together, before fees+0.362%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.375%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	741.24	0.0064	pay 0.0008% / 1h	16m 58s	$862K	$2.5M	20x
Short	edgeX METAUSDC	741.30	0.0013	get 0.0007% / 4h	1h 16m	$62K	$331K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$10.66
Price spread: +0.008% → +0.014%: −$0.6
Slippage, 4 orders: −$12.62
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$32.88
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; edgeX: live order book, 1 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	0.81 bp	1.0 bp −$1	1.9 bp −$19	doesn't fit	doesn't fit
Sell edgeX live order book, 1 min ago	5.13 bp	9.7 bp −$10	11.2 bp −$112	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	741.06	−0.024%	$327K	$1.1M	20x	as long as short
Nado META-PERP	−0.0077%	1h	740.84	−0.053%	$396K	$325K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.73	+0.066%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.96	−0.038%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.07	−0.023%	$26.9M	$178.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.96	−0.038%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.09	−0.020%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.60	−0.086%	$343K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.04	−0.027%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	741.31	+0.010%	$1.6M	$2.6M	—	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	741.19	−0.007%	$12K	$504K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.90	−0.046%	$711	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.88	−0.049%	$107K	$286K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.36	+0.016%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.97	−0.036%	$2.2M	$14.2M	10x	as long as short
Hotstuff META-PERP	+0.0008%	1h	741.10	−0.019%	$33K	$105	20x	as long as short
edgeX METAUSDCshort	+0.0013%	4h	741.30	+0.008%	$62K	$331K	10x
Lighter RH META	+0.0032%	1h	741.25	+0.001%	$749K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.67	−0.077%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.40	+0.022%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.07	−0.023%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.09	−0.020%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.08	−0.022%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.79	−0.061%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.92	−0.043%	$648K	$4.1M	10x	as long as short
Aftermath Perps METAUSD	+0.0056%	1h	741.88	+0.086%	$50K	$66K	10x	as long as short
Lighter METAlong	+0.0064%	1h	741.24	long leg	$862K	$2.5M	20x
Coinbase International META-PERP-INTX	+0.0064%	1h	740.91	−0.045%	$606K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	741.19	−0.007%	$291K	$791K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.05	−0.026%	$1.6M	$366K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.95	−0.039%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.07	−0.023%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.01	−0.031%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0109%	1h	741.19	−0.007%	$68.6M	$120.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0141%	1h	741.06	−0.024%	$30K	$256K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.09	−0.020%	$169K	$46K	30x	as long as short