Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.011%

Price spread now: Bybit against Lighter RH−0.054%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Lighter RH Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 7 days−0.026%−$3 · spread now −0.054%, 7d avg 0.000%

Together, before fees−0.077%+ Points / potential airdropLighter RH: Points live · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.054% cheaper against Lighter RH than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of 0.000%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	746.05	0.0032	pay 0.0004% / 1h	57m 18s	$787K	$2.9M	20x
Short	Bybit METAUSDT	745.65	0	get 0.0000% / 8h	1h 57m	$7.3M	$15.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$6.72
Price spread: −0.054% → 0.000%: −$5.36
Slippage, 4 orders: −$13.04
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$36.12
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 1 min ago; Bybit: live order book, 1 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, 1 min ago	0.74 bp	1.4 bp −$1	3.5 bp −$35	46.3 bp −$4,629	doesn't fit
Sell Bybit live order book, 1 min ago	2.01 bp	11.3 bp −$11	23.5 bp −$235	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-USDT	−0.0120%	8h	745.72	−0.044%	$332K	$1.1M	20x	as long as short
Nado META-PERP	−0.0074%	1h	745.54	−0.069%	$483K	$557K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.41	−0.085%	$480K	$592K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.66	−0.052%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.75	−0.040%	$27.6M	$184.3M	20x	as long as short
Bybit METAUSDTshort	0.0000%	8h	745.65	−0.054%	$7.3M	$15.2M	100x
OKX META-USDT-SWAP	0.0000%	8h	745.71	−0.046%	$6.1M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.21	−0.113%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.86	−0.025%	$5.5M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	745.29	−0.102%	$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	745.40	−0.088%	$12K	$439K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.67	−0.051%	$541	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.31	−0.099%	$31K	$265K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.68	−0.050%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.28	+0.031%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.59	−0.062%	$2.2M	$13.9M	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	746.05	long leg	$787K	$2.9M	20x
Arcus META-USD	+0.0040%	1h	745.38	−0.090%	$110K	$332K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.11	+0.008%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.93	−0.016%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.29	−0.102%	$586K	$567K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.88	−0.023%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.79	−0.035%	$716K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	745.72	−0.044%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0084%	1h	746.70	+0.088%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.66	−0.052%	$1.6M	$663K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.88	−0.157%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.76	−0.039%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.60	−0.061%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.35	−0.094%	$670K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	753.11	+0.946%	$174K	$46K	30x	as long as short
Lighter META	+0.0280%	1h	746.21	+0.021%	$1.1M	$2.7M	20x	as long as short
tradeXYZ xyz:META	+0.0509%	1h	746.34	+0.039%	$76.5M	$126.3M	20x	as long as short
Hotstuff META-PERP	+0.0600%	1h	746.38	+0.044%	$33K	$105	20x	as long as short
Phoenix META	+0.0685%	1h	746.90	+0.114%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0887%	4h	745.56	−0.066%	$62K	$341K	10x	as long as short