META

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0400%/8h= −43.8% APRnext payment −$0.50 per $10,000 · paid last 24h −0.042%

Price spread now: Lighter RH against Lighter−0.019%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$60.055% of the position

Long on Lighter Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 7 days+0.036%+$4 · spread now −0.019%, 7d avg +0.010%

Together, before fees−0.041%+ Points / potential airdropLighter: Season 3 · Lighter RH: Points live · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Lighter RH is 0.028% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.010%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.077% in total (about -4.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.50 per $10,000. 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	746.85	0.0432	pay 0.0054% / 1h	16m 38s	$1.1M	$2.9M	20x
Short	Lighter RH META	746.71	0.0032	get 0.0004% / 1h	16m 38s	$787K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$84
Price spread: −0.019% → +0.010%: −$2.84
Slippage, 4 orders: −$5.54
Fee Lighter: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$92.38
Costs to cover: 0.055%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Lighter RH: 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, 6 min ago	0.80 bp	1.3 bp −$1	1.8 bp −$18	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	1.34 bp	1.5 bp −$2	7.9 bp −$79	47.1 bp −$4,706	doesn't fit

META on 37 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	746.73	−0.016%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.12	−0.098%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.40	−0.061%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.39	−0.061%	$25.2M	$188.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.36	−0.066%	$7.5M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.71	−0.019%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.36	−0.066%	$474K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.63	−0.029%	$5.6M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	747.09	+0.033%	$2.5M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.50	−0.048%	$12K	$439K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.84	−0.001%	$1K	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.39	−0.062%	$34K	$276K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.63	−0.029%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.79	−0.008%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0011%	1h	746.37	−0.064%	$482K	$561K	20x	as long as short
QFEX META-USD	+0.0031%	1h	746.51	−0.046%	$2.2M	$14.1M	10x	as long as short
Lighter RH METAshort	+0.0032%	1h	746.71	−0.019%	$787K	$3.1M	20x
Arcus META-USD	+0.0040%	1h	746.23	−0.083%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.12	+0.036%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.75	−0.013%	$178K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.48	−0.050%	$568K	$624K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.72	−0.017%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.12	−0.098%	$735K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	746.32	−0.072%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.02	+0.022%	$48K	$91K	10x	as long as short
edgeX METAUSDC	+0.0090%	4h	746.30	−0.073%	$62K	$345K	10x	as long as short
Pacifica META	+0.0100%	1h	746.67	−0.024%	$37	$368	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.37	−0.064%	$1.6M	$722K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.72	−0.151%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.88	+0.004%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.78	−0.010%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.24	−0.082%	$644K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	753.38	+0.874%	$176K	$48K	30x	as long as short
Lighter METAlong	+0.0432%	1h	746.85	long leg	$1.1M	$2.9M	20x
Hotstuff META-PERP	+0.0480%	1h	746.89	+0.005%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0567%	1h	747.03	+0.024%	$82.4M	$130.7M	20x	as long as short
Phoenix META	+0.0750%	1h	748.05	+0.161%	$799K	$1.5M	20x	as long as short