Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.017%

Price spread now: GRVT against Lighter RH−0.012%79s7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as 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−$180.182% of the position

Long on Lighter RH Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$8 on $10k

Price spread, last 4 days (all we have)−0.082%−$8 · spread now −0.012%, 7d avg −0.006%

Together, before fees−0.157%+ Points / potential airdropLighter RH: Points live · GRVT: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	740.18	0.0032	pay 0.0004% / 1h	43m 59s	$750K	$3.0M	20x
Short	GRVT META_USDT_Perp	740.09	0	get 0.0000% / 8h	6h 43m	$13K	$446K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$6.72
Price spread: −0.012% → −0.006%: −$0.58
Slippage, 4 orders: −$9.17
Fee Lighter RH: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$25.47
Costs to cover: 0.182%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; GRVT: live order book, 24 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	1.76 bp	1.9 bp −$2	4.3 bp −$43	51.1 bp −$5,111	doesn't fit
Sell GRVT live order book, 24 min ago	1.49 bp	7.9 bp −$8	14.4 bp −$144	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
Nado META-PERP	−0.0156%	1h	739.80	−0.051%	$478K	$546K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	739.99	−0.026%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.61	+0.058%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.95	−0.031%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.15	−0.005%	$27.4M	$179.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.05	−0.018%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.18	0.000%	$5.9M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.88	−0.041%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.17	−0.001%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.01	−0.023%	$2.4M	$3.1M	—	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_Perpshort	0.0000%	8h	740.09	−0.012%	$13K	$446K	10x
SunX META-USDT	0.0000%	8h	740.42	+0.032%	$648	$9.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.68	−0.068%	$31K	$244K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.07	−0.015%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.27	+0.012%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.02	−0.022%	$2.2M	$14.0M	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	740.18	long leg	$750K	$3.0M	20x
Arcus META-USD	+0.0040%	1h	739.73	−0.061%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.25	+0.009%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.28	+0.014%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.08	−0.014%	$557K	$855K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.13	−0.007%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.46	−0.097%	$692K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0057%	8h	739.98	−0.027%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0068%	1h	740.79	+0.082%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.14	−0.005%	$1.6M	$465K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.43	−0.101%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.17	−0.001%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.92	−0.035%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.05	−0.018%	$610K	$7.3M	10x	as long as short
Lighter META	+0.0112%	1h	740.11	−0.009%	$856K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0120%	1h	740.34	+0.022%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.52	+0.316%	$171K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0260%	1h	740.22	+0.005%	$68.3M	$120.4M	20x	as long as short
Phoenix META	+0.0313%	1h	740.77	+0.080%	$373K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0828%	4h	739.94	−0.032%	$62K	$336K	10x	as long as short