Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0264%/8h= −28.9% APRpaid last 24h −0.048%

Price spread now: HTX against Lighter−0.040%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

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

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.143%−$14 on $10k

Price spread, last 4 days (all we have)+0.167%+$17 · spread now −0.040%, 7d avg +0.001%

Together, before fees+0.024%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and HTX is 0.041% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.143% in total (about -7.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	745.11	0.0264	pay 0.0033% / 1h	46m 20s	$864K	$2.4M	20x
Short	HTX META-USDT	744.81	0	get 0.0000% / 8h	3h 46m	$106K	$302K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$55.44
Price spread: −0.040% → +0.001%: −$4.14
Slippage, 4 orders: −$8.72
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$80.3
Costs to cover: 0.207%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; HTX: 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, 5 min ago	0.13 bp	0.6 bp −$1	2.7 bp −$27	doesn't fit	doesn't fit
Sell HTX live order book, 6 min ago	2.69 bp	8.7 bp −$9	9.9 bp −$99	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	745.02	−0.012%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0014%	1h	744.71	−0.053%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.70	−0.055%	$469K	$554K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.86	−0.034%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.11	0.000%	$28.4M	$182.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.75	−0.048%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.96	−0.020%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.65	−0.062%	$364K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.83	−0.038%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.05	−0.142%	$2.4M	$3.2M	—	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	743.99	−0.150%	$12K	$450K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.94	−0.023%	$800	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.57	−0.072%	$31K	$246K	10x	as long as short
HTX META-USDTshort	0.0000%	8h	744.81	−0.040%	$106K	$302K	30x
Phemex METAUSDT	0.0000%	4h	745.07	−0.005%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	745.13	+0.003%	$782K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.22	−0.119%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.27	+0.021%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.08	−0.004%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.79	−0.043%	$586K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.77	−0.046%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.23	−0.252%	$801K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	744.88	−0.031%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.11	0.000%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0097%	8h	744.92	−0.026%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.78	−0.044%	$1.6M	$601K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.08	−0.272%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.16	+0.007%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.78	−0.045%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	744.02	−0.146%	$617K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.08	−0.138%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	745.08	−0.004%	$33K	$105	20x	as long as short
Lighter METAlong	+0.0264%	1h	745.11	long leg	$864K	$2.4M	20x
tradeXYZ xyz:META	+0.0334%	1h	745.25	+0.019%	$70.1M	$121.0M	20x	as long as short
edgeX METAUSDC	+0.0484%	4h	743.90	−0.162%	$62K	$338K	10x	as long as short
Phoenix META	+0.0633%	1h	745.04	−0.009%	$762K	$1.4M	20x	as long as short