META

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0382%/8h= −41.8% APRnext payment −$0.48 per $10,000 · paid last 24h −0.038%

Price spread now: Ondo Perps against Lighter−0.155%7-day average −0.053% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.034%−$3 on $10k

Price spread, last 7 days+0.243%+$24 · spread now −0.155%, 7d avg −0.053%

Together, before fees+0.209%+ Points / potential airdropLighter: Season 3 · Ondo Perps: Active · farm board+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Ondo Perps is 0.103% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.053%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.034% in total (about -1.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.48 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	746.93	0.0432	pay 0.0054% / 1h	18m 29s	$1.1M	$2.9M	20x
Short	Ondo Perps META-USD.P	745.77	0.0050	get 0.0006% / 1h	18m 29s	$731K	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$80.14
Price spread: −0.155% → −0.053%: −$10.27
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$95.4
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 4 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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	0.80 bp	1.3 bp −$1	1.8 bp −$18	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	746.44	−0.066%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.98	−0.128%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.22	−0.095%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.36	−0.077%	$25.2M	$188.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.99	−0.126%	$7.4M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.51	−0.056%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.89	−0.139%	$474K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.09	−0.112%	$5.6M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	747.09	+0.022%	$2.5M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.30	+0.050%	$13K	$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	746.37	−0.075%	$926	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.04	−0.119%	$34K	$276K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.17	−0.102%	$108K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.25	−0.091%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0012%	1h	746.11	−0.109%	$481K	$560K	20x	as long as short
QFEX META-USD	+0.0031%	1h	746.24	−0.092%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0032%	1h	746.79	−0.019%	$790K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.06	−0.116%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.87	−0.008%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.39	−0.072%	$178K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.96	−0.130%	$567K	$624K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.31	−0.083%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.Pshort	+0.0050%	1h	745.77	−0.155%	$731K	$5.1M	10x
Paradex META-USD-PERP	+0.0054%	8h	746.31	−0.083%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.94	+0.001%	$48K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	746.41	−0.070%	$37	$368	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.19	−0.099%	$1.6M	$722K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.30	−0.218%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.48	−0.060%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.34	−0.079%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.24	−0.092%	$644K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	753.38	+0.864%	$176K	$48K	30x	as long as short
Lighter METAlong	+0.0432%	1h	746.93	long leg	$1.1M	$2.9M	20x
edgeX METAUSDC	+0.0452%	4h	745.57	−0.182%	$62K	$344K	10x	as long as short
Hotstuff META-PERP	+0.0488%	1h	746.95	+0.003%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0567%	1h	746.93	0.000%	$82.2M	$130.4M	20x	as long as short
Phoenix META	+0.0750%	1h	747.41	+0.064%	$798K	$1.5M	20x	as long as short