Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0152%/8h= −16.6% APRpaid last 24h −0.017%

Price spread now: BloFin against Lighter RH−0.016%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$180.180% of the position

Long on Lighter RH Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.260%−$26 on $10k

Price spread, last 4 days (all we have)+0.152%+$15 · spread now −0.016%, 7d avg +0.005%

Together, before fees−0.109%+ Points / potential airdropLighter RH: Points live · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and BloFin is 0.021% cheaper against Lighter RH than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.005%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	746.12	0.0032	pay 0.0004% / 1h	49m 10s	$787K	$2.9M	20x
Short	BloFin META-USDT	746.00	−0.0120	pay 0.0120% / 8h	1h 49m	$334K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter RH. 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 Lighter RHbpFee BloFinbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$31.92
Price spread: −0.016% → +0.005%: −$2.06
Slippage, 4 orders: −$5.97
Fee Lighter RH: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$51.95
Costs to cover: 0.180%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; BloFin: live order book, 3 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 RH live order book, 4 min ago	1.21 bp	1.5 bp −$1	3.8 bp −$38	42.5 bp −$4,253	doesn't fit
Sell BloFin live order book, 3 min ago	0.07 bp	6.6 bp −$7	10.2 bp −$102	doesn't fit	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-USDTshort	−0.0120%	8h	746.00	−0.016%	$334K	$1.1M	20x
Nado META-PERP	−0.0044%	1h	745.55	−0.076%	$483K	$558K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.51	−0.082%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.46	−0.089%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.95	−0.023%	$26.6M	$187.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.76	−0.048%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.01	−0.015%	$6.1M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.52	−0.080%	$435K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.99	−0.017%	$5.5M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	745.83	−0.039%	$2.4M	$3.3M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	746.06	−0.009%	$12K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.78	−0.046%	$801	$8.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	745.61	−0.068%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.01	−0.015%	$2.0M	$8K	10x	as long as short
edgeX METAUSDC	+0.0003%	4h	745.95	−0.022%	$62K	$343K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.78	−0.046%	$2.2M	$13.9M	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	746.12	long leg	$787K	$2.9M	20x
Arcus META-USD	+0.0040%	1h	745.43	−0.092%	$110K	$333K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.18	+0.008%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.02	−0.013%	$178K	$202K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.54	−0.078%	$587K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.67	−0.060%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.87	−0.168%	$720K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0063%	8h	745.73	−0.052%	—	—	5x	as long as short
Deribit META_USDC-PERPETUAL	+0.0072%	1h	745.31	−0.109%	$34K	$270K	10x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.84	+0.097%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.79	−0.044%	$1.6M	$667K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.61	−0.068%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.70	−0.056%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.47	−0.087%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.43	−0.092%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	753.11	+0.937%	$174K	$46K	30x	as long as short
Lighter META	+0.0400%	1h	746.03	−0.012%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0456%	1h	745.90	−0.029%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0561%	1h	746.41	+0.039%	$76.8M	$126.8M	20x	as long as short
Phoenix META	+0.0739%	1h	747.27	+0.154%	$798K	$1.5M	20x	as long as short