Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.011%

Price spread now: HTX against Lighter RH−0.058%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$430.430% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 4 days (all we have)+0.111%+$11 · spread now −0.058%, 7d avg −0.027%

Together, before fees+0.034%+ Points / potential airdropLighter RH: Points live · farm board+$3 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 HTX is 0.030% cheaper against Lighter RH than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.027%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	746.88	0.0040	pay 0.0005% / 1h	4m 56s	$797K	$3.1M	20x
Short	HTX META-USDT	746.45	0	get 0.0000% / 8h	4m 56s	$108K	$311K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.058%Rate

Funding earned: −$8.4
Price spread: −0.058% → −0.027%: −$3.01
Slippage, 4 orders: −$31
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$54.41
Costs to cover: 0.430%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; HTX: live order book, 32 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	1.87 bp	2.6 bp −$3	4.9 bp −$49	46.5 bp −$4,652	doesn't fit
Sell HTX live order book, 32 min ago	12.68 bp	18.7 bp −$19	28.3 bp −$283	doesn't fit	doesn't fit

META on 37 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	746.67	−0.028%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.56	−0.042%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.38	−0.067%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.67	−0.028%	$25.4M	$189.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.85	−0.004%	$7.5M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.84	−0.005%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.27	−0.082%	$473K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.53	−0.047%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	746.51	−0.049%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.79	−0.012%	$12K	$439K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.54	−0.046%	$929	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.23	−0.087%	$34K	$276K	10x	as long as short
HTX META-USDTshort	0.0000%	8h	746.45	−0.058%	$108K	$311K	30x
Phemex METAUSDT	0.0000%	4h	747.25	+0.050%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0015%	1h	746.03	−0.114%	$481K	$560K	20x	as long as short
QFEX META-USD	+0.0031%	1h	746.43	−0.060%	$2.2M	$14.1M	10x	as long as short
Lighter RH METAlong	+0.0040%	1h	746.88	long leg	$797K	$3.1M	20x
Arcus META-USD	+0.0040%	1h	746.51	−0.050%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.15	+0.036%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.21	−0.090%	$567K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.55	−0.044%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.93	−0.127%	$734K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	746.52	−0.048%	—	—	5x	as long as short
Popdex METAUSDT	+0.0072%	1h	746.59	−0.039%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.44	+0.076%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	746.75	−0.017%	$633	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.77	−0.015%	$1.6M	$729K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.01	−0.116%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.67	−0.028%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.47	−0.055%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.79	−0.012%	$651K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.54	+0.356%	$177K	$51K	30x	as long as short
Lighter META	+0.0448%	1h	747.10	+0.029%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	747.00	+0.016%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0471%	4h	746.62	−0.035%	$62K	$345K	10x	as long as short
tradeXYZ xyz:META	+0.0563%	1h	747.21	+0.044%	$83.7M	$131.7M	20x	as long as short
Phoenix META	+0.0750%	1h	747.82	+0.126%	$798K	$1.5M	20x	as long as short