META

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0246%/8h= −26.9% APRnext payment −$0.31 per $10,000 · paid last 24h −0.034%

Price spread now: Polymarket Perps against Lighter−0.101%45s7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.203% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days−0.060%−$6 · spread now −0.101%, 7d avg −0.036%

Together, before fees−0.083%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Polymarket Perps is 0.064% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.036%). Swap the legs. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.023% in total (about -1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.31 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	745.03	0.0296	pay 0.0037% / 1h	0m 47s	$1.2M	$2.9M	20x
Short	Polymarket Perps META-USD	744.28	0.0050	get 0.0006% / 1h	0m 47s	$566K	$618K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$51.66
Price spread: −0.101% → −0.036%: −$6.43
Slippage, 4 orders: −$12.3
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$78.39
Costs to cover: 0.203%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Polymarket Perps: live order book, 17 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	0.67 bp	0.7 bp −$1	1.5 bp −$15	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 17 min ago	3.97 bp	9.9 bp −$10	10.5 bp −$105	doesn't fit	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	744.81	−0.030%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.80	−0.031%	$490K	$623K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.52	−0.068%	$546K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.78	−0.034%	$25.9M	$191.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.03	0.000%	$7.7M	$15.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.67	−0.048%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.24	−0.106%	$450K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.60	−0.058%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	744.66	−0.050%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.10	+0.009%	$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	744.81	−0.030%	$1K	$7.6M	20x	as long as short
HTX META-USDT	0.0000%	8h	744.35	−0.091%	$108K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.84	−0.026%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0009%	1h	744.35	−0.092%	$478K	$559K	20x	as long as short
Lighter RH META	+0.0032%	1h	744.85	−0.024%	$798K	$3.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0032%	1h	744.04	−0.133%	$36K	$271K	10x	as long as short
QFEX META-USD	+0.0036%	1h	744.62	−0.055%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	744.34	−0.093%	$111K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.91	−0.016%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.71	−0.043%	$179K	$204K	20x	as long as short
Polymarket Perps META-USDshort	+0.0050%	1h	744.28	−0.101%	$566K	$618K	10x
SoDEX META-USD	+0.0050%	1h	744.68	−0.047%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.67	−0.048%	$719K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0059%	8h	744.64	−0.053%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	745.23	+0.026%	$51K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	744.09	−0.126%	$612	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.66	−0.050%	$1.6M	$798K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.32	−0.095%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.58	−0.060%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.39	−0.086%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	744.09	−0.126%	$640K	$7.9M	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	745.27	+0.032%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.78	−0.034%	$176K	$52K	30x	as long as short
Lighter METAlong	+0.0296%	1h	745.03	long leg	$1.2M	$2.9M	20x
tradeXYZ xyz:META	+0.0303%	1h	744.82	−0.028%	$86.2M	$134.5M	20x	as long as short
edgeX METAUSDC	+0.0510%	4h	745.00	−0.004%	$63K	$348K	10x	as long as short
Phoenix META	+0.0791%	1h	745.86	+0.111%	$796K	$1.5M	20x	as long as short