Funding you earn now, next payment 01:00 UTC−0.0209%/8h= −22.9% APRnext payment −$0.26 per $10,000 · paid last 24h −0.028%
Price spread now: QFEX against Lighter−0.020%7-day average +0.024% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$160.157% of the position
Funding, last 3 days (all we have)−0.054%−$5 on $10k
+Price spread, last 4 days (all we have)+0.076%+$8 · spread now −0.020%, 7d avg +0.024%
=Together, before fees+0.022%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and QFEX is 0.044% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.024%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.054% in total (about -5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.26 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 | 739.16 | 0.0264 | pay 0.0033% / 1h | 32m 33s | $851K | $2.5M | 20x |
| Short | QFEX META-USD | 739.01 | 0.0055 | get 0.0007% / 1h | 32m 33s | $2.2M | $14.2M | 10x |
Lighter META
QFEX META-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$43.85
- Price spread: −0.020% → +0.024%
- −$4.4
- Slippage, 4 orders
- −$5.65
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$63.9
- Costs to cover
- 0.157%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 4 min ago; QFEX: live order book, 7 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 | 0.81 bp | 0.8 bp −$1 | 1.4 bp −$14 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 7 min ago | 1.83 bp | 6.8 bp −$7 | 7.3 bp −$73 | 19.3 bp −$1,933 | 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 | 738.97 | −0.026% | $329K | $1.1M | 20x | as long as short |
| Phemex METAUSDT | −0.0022% | 4h | 738.98 | −0.024% | $2.0M | $8K | 10x | as long as short |
| Aster METAUSDT | 0.0000% | 8h | 739.16 | −0.001% | $465K | $549K | 20x | as long as short |
| Extended META_24_5-USD | 0.0000% | 1h | 738.85 | −0.042% | $547K | $2.6M | 17x | as long as short |
| Binance METAUSDT | 0.0000% | 8h | 739.00 | −0.022% | $27.3M | $179.1M | 20x | as long as short |
| Bybit METAUSDT | 0.0000% | 8h | 739.10 | −0.008% | $7.6M | $13.9M | 100x | as long as short |
| OKX META-USDT-SWAP | 0.0000% | 8h | 738.79 | −0.050% | $6.0M | $13.2M | 20x | as long as short |
| Gate META_USDT | 0.0000% | 8h | 738.60 | −0.076% | $351K | $5.6M | 100x | as long as short |
| Bitget METAUSDT | 0.0000% | 8h | 738.85 | −0.042% | $5.6M | $11.1M | 100x | as long as short |
| Variational Omni META | 0.0000% | 8h | 738.79 | −0.050% | $2.3M | $3.3M | — | as long as short |
BloFin META-USDT
Phemex METAUSDT
Aster METAUSDT
Extended META_24_5-USD
Binance METAUSDT
Bybit METAUSDT
OKX META-USDT-SWAP
Gate META_USDT
Bitget METAUSDT
Variational Omni METAShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT META_USDT_Perp | 0.0000% | 8h | 738.91 | −0.034% | $12K | $479K | 10x | as long as short |
| SunX META-USDT | 0.0000% | 8h | 739.25 | +0.012% | $574 | $9.3M | 20x | as long as short |
| Deribit META_USDC-PERPETUAL | 0.0000% | 1h | 738.69 | −0.064% | $30K | $245K | 10x | as long as short |
| HTX META-USDT | 0.0000% | 8h | 738.62 | −0.073% | $106K | $291K | 30x | as long as short |
| Nado META-PERP | +0.0016% | 1h | 738.65 | −0.069% | $371K | $343K | 20x | as long as short |
| Lighter RH META | +0.0032% | 1h | 739.09 | −0.009% | $756K | $3.1M | 20x | as long as short |
| Vest META-USD-PERP | +0.0046% | 1h | 739.22 | +0.008% | — | $11K | 25x | as long as short |
| Popdex METAUSDT | +0.0048% | 1h | 739.00 | −0.022% | $177K | $194K | 20x | as long as short |
| Polymarket Perps META-USD | +0.0050% | 1h | 738.79 | −0.050% | $557K | $857K | 10x | as long as short |
| SoDEX META-USD | +0.0050% | 1h | 738.82 | −0.046% | $24K | $3K | 10x | as long as short |
| Ondo Perps META-USD.P | +0.0050% | 1h | 738.15 | −0.137% | $692K | $4.4M | 10x | as long as short |
| QFEX META-USDshort | +0.0055% | 1h | 739.01 | −0.020% | $2.2M | $14.2M | 10x | |
| Arcus META-USD | +0.0063% | 1h | 738.41 | −0.101% | $110K | $331K | 10x | as long as short |
| Paradex META-USD-PERP | +0.0068% | 8h | 738.76 | −0.054% | — | — | 5x | as long as short |
| Aftermath Perps METAUSD | +0.0071% | 1h | 739.42 | +0.035% | $48K | $80K | 10x | as long as short |
| Hotstuff META-PERP | +0.0088% | 1h | 738.96 | −0.027% | $33K | $105 | 20x | as long as short |
| KuCoin METAUSDTM | +0.0100% | 8h | 739.04 | −0.016% | $1.6M | $428K | 20x | as long as short |
| ApeX Omni METAUSDT | +0.0100% | 1h | 738.44 | −0.097% | $165K | $72K | 50x | as long as short |
| Orderly PERP_META_USDC_mythos | +0.0100% | 8h | 739.20 | +0.005% | $1K | $24 | 10x | as long as short |
| Aevo META-PERP | +0.0104% | 1h | 738.96 | −0.028% | $266 | — | 10x | as long as short |
| edgeX METAUSDC | +0.0143% | 4h | 738.77 | −0.053% | $62K | $334K | 10x | as long as short |
| Coinbase International META-PERP-INTX | +0.0144% | 1h | 738.49 | −0.091% | $604K | $7.3M | 10x | as long as short |
| tradeXYZ xyz:META | +0.0173% | 1h | 738.95 | −0.028% | $67.4M | $121.5M | 20x | as long as short |
| Injective META/USDC PERP | +0.0220% | 1h | 741.02 | +0.252% | $171K | $48K | 30x | as long as short |
| Phoenix META | +0.0259% | 1h | 738.15 | −0.137% | $277K | $930K | 20x | as long as short |
| Lighter METAlong | +0.0264% | 1h | 739.16 | long leg | $851K | $2.5M | 20x |
GRVT META_USDT_Perp
SunX META-USDT
Deribit META_USDC-PERPETUAL
HTX META-USDT
Nado META-PERP
Lighter RH META
Vest META-USD-PERP
Popdex METAUSDT
Polymarket Perps META-USD
SoDEX META-USD
Ondo Perps META-USD.P
Arcus META-USD
Paradex META-USD-PERP
Aftermath Perps METAUSD
Hotstuff META-PERP
KuCoin METAUSDTM
ApeX Omni METAUSDT
Orderly PERP_META_USDC_mythos
Aevo META-PERP
edgeX METAUSDC
Coinbase International META-PERP-INTX
tradeXYZ xyz:META
Injective META/USDC PERP
Phoenix META