Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.008%

Price spread now: KuCoin against Lighter−0.047%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$620.622% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 4 days (all we have)+0.150%+$15 · spread now −0.047%, 7d avg −0.011%

Together, before fees+0.231%+ Points / potential airdropLighter: Season 3 · farm board+$23 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.036% cheaper against Lighter than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	740.88	0.0096	pay 0.0012% / 1h	47m 50s	$859K	$2.5M	20x
Short	KuCoin METAUSDTM	740.53	0.0100	get 0.0100% / 8h	1h 47m	$1.6M	$358K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.047%Rate

Funding earned: $0.84
Price spread: −0.047% → −0.011%: −$3.64
Slippage, 4 orders: −$50.16
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$64.96
Costs to cover: 0.622%
Break-even: 548.3 days

Slippage from Lighter: live order book, 4 min ago; KuCoin: live order book, 3 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, 4 min ago	0.20 bp	1.5 bp −$1	2.1 bp −$21	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	6.68 bp	27.8 bp −$28	doesn't fit	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	740.79	−0.012%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0072%	1h	740.42	−0.062%	$396K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.26	+0.051%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.45	−0.058%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.56	−0.043%	$26.9M	$177.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.48	−0.054%	$7.4M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.48	−0.054%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.19	−0.093%	$327K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.62	−0.035%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	740.53	−0.047%	$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	740.86	−0.003%	$12K	$518K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.83	−0.007%	$1K	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.39	−0.066%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.65	−0.031%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.59	−0.039%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.88	0.000%	$747K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.44	−0.059%	$263K	$313K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.01	+0.018%	—	$9K	25x	as long as short
Hotstuff META-PERP	+0.0048%	1h	740.69	−0.026%	$33K	$105	20x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.68	−0.027%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.70	−0.024%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.55	−0.045%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.52	−0.048%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.54	−0.046%	$649K	$4.0M	10x	as long as short
Aftermath Perps METAUSD	+0.0054%	1h	741.36	+0.064%	$48K	$64K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	740.90	+0.003%	$608K	$7.3M	10x	as long as short
Phoenix META	+0.0065%	1h	740.71	−0.023%	$291K	$791K	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0074%	1h	740.62	−0.035%	$30K	$256K	10x	as long as short
Lighter METAlong	+0.0096%	1h	740.88	long leg	$859K	$2.5M	20x
KuCoin METAUSDTMshort	+0.0100%	8h	740.53	−0.047%	$1.6M	$358K	20x
ApeX Omni METAUSDT	+0.0100%	1h	740.20	−0.092%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.69	−0.026%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.61	−0.036%	$267	—	10x	as long as short
tradeXYZ xyz:META	+0.0133%	1h	740.67	−0.028%	$68.5M	$120.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.50	−0.051%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0319%	4h	740.64	−0.032%	$62K	$330K	10x	as long as short