Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0348%/8h= −38.1% APRnext payment −$0.43 per $10,000 · paid last 24h —

Price spread now: Pacifica against Lighter−0.050%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 2 hours (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Pacifica: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Pacifica is 0.050% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	746.12	0.0448	pay 0.0056% / 1h	26m 16s	$1.1M	$2.9M	20x
Short	Pacifica META	745.74	0.0100	get 0.0013% / 1h	26m 16s	$48	$307	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.050%Rate

Funding earned: −$73.08
Price spread: −0.050% → 0.000%: −$5.04
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$86.12
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 6 min ago; Pacifica: 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, 6 min ago	0.13 bp	2.0 bp −$2	2.7 bp −$27	doesn't fit	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: 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	745.82	−0.040%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.21	−0.122%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.31	−0.108%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.54	−0.078%	$25.1M	$188.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.48	−0.086%	$7.5M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.82	−0.040%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.15	−0.130%	$468K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.66	−0.062%	$5.5M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	745.36	−0.102%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.63	−0.066%	$12K	$437K	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	745.53	−0.079%	$772	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.29	−0.111%	$34K	$276K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.71	−0.055%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.83	−0.039%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0029%	1h	745.49	−0.085%	$480K	$560K	20x	as long as short
QFEX META-USD	+0.0031%	1h	745.57	−0.074%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0040%	1h	745.93	−0.025%	$789K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.41	−0.095%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.17	+0.007%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.20	−0.123%	$565K	$622K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.68	−0.059%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.15	−0.130%	$747K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	745.44	−0.092%	—	—	5x	as long as short
Popdex METAUSDT	+0.0064%	1h	745.72	−0.054%	$177K	$203K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.40	+0.038%	$48K	$91K	10x	as long as short
Pacifica METAshort	+0.0100%	1h	745.74	−0.050%	$48	$307	10x
KuCoin METAUSDTM	+0.0100%	8h	745.65	−0.063%	$1.6M	$720K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.12	−0.134%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.47	−0.087%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.36	−0.101%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.60	−0.070%	$643K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.85	−0.036%	$174K	$48K	30x	as long as short
Lighter METAlong	+0.0448%	1h	746.12	long leg	$1.1M	$2.9M	20x
Hotstuff META-PERP	+0.0480%	1h	746.10	−0.003%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0571%	1h	746.07	−0.007%	$81.8M	$130.3M	20x	as long as short
Phoenix META	+0.0750%	1h	746.75	+0.084%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0763%	4h	745.48	−0.086%	$62K	$346K	10x	as long as short