Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0737%/8h= +80.7% APRpaid last 24h +0.079%

Price spread now: edgeX against Lighter RH−0.142%7-day average −0.016% · 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−$38as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on Lighter RH Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.483%+$48 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.142%, 7d avg −0.016%

Together, before fees+0.571%+ Points / potential airdropLighter RH: Points live · edgeX: Active · farm board+$57 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.126% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.142% now, against its 7-day average of −0.016%). If the spread goes back, that is −$13 on $10k: about 14 hours of funding at the current rate (+$22 a day). At the pace of the last 7 days (+0.483% in total) that is about 44 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.483% in total (about 25.2% a year). A funding rate is set anew for every payment. 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 RH META	743.27	0.0032	pay 0.0004% / 1h	5m 26s	$768K	$3.0M	20x
Short	edgeX METAUSDC	742.22	0.0769	get 0.0384% / 4h	1h 05m	$62K	$336K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.142%Rate

Funding earned: $154.72
Price spread: −0.142% → −0.016%: −$12.55
Slippage, 4 orders: −$16.39
Fee Lighter RH: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $116.77
Costs to cover: 0.254%
Break-even: 1.7 days

Slippage from Lighter RH: live order book, 3 min ago; edgeX: live order book, 58 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, 3 min ago	2.69 bp	2.8 bp −$3	7.1 bp −$71	doesn't fit	doesn't fit
Sell edgeX live order book, 58 min ago	5.13 bp	9.8 bp −$10	11.2 bp −$112	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
Deribit META_USDC-PERPETUAL	−0.0127%	1h	742.46	−0.109%	$31K	$245K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	742.37	−0.121%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0025%	1h	742.87	−0.054%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.67	−0.080%	$467K	$550K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.75	−0.070%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.94	−0.044%	$27.4M	$179.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.88	−0.052%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.95	−0.043%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.66	−0.082%	$362K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.91	−0.048%	$5.5M	$11.5M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	742.77	−0.067%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.81	−0.196%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.07	−0.027%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.56	−0.096%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.61	−0.089%	$2.0M	$8K	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	743.27	long leg	$768K	$3.0M	20x
QFEX META-USD	+0.0032%	1h	742.78	−0.066%	$2.1M	$13.6M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.01	−0.170%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.25	−0.003%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.08	−0.026%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.78	−0.066%	$560K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.96	−0.042%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.49	−0.105%	$721K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	742.98	−0.039%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.66	−0.082%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.46	−0.109%	$613K	$7.2M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.81	−0.062%	$1.6M	$527K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.06	−0.297%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.92	−0.047%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.77	−0.068%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.07	−0.161%	$171K	$48K	30x	as long as short
Lighter META	+0.0264%	1h	743.20	−0.009%	$862K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0328%	1h	743.03	−0.032%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0332%	1h	743.01	−0.035%	$69.4M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	742.66	−0.082%	$591K	$1.1M	20x	as long as short
edgeX METAUSDCshort	+0.0769%	4h	742.22	−0.142%	$62K	$336K	10x