Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.009%

Price spread now: OKX against Lighter RH+0.001%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$180.177% of the position

Long on Lighter RH Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days−0.042%−$4 · spread now +0.001%, 7d avg +0.015%

Together, before fees−0.112%+ Points / potential airdropLighter RH: Points live · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	742.69	0.0032	pay 0.0004% / 1h	29m 48s	$765K	$3.0M	20x
Short	OKX META-USDT-SWAP	742.70	0	get 0.0000% / 8h	5h 29m	$6.0M	$13.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$6.72
Price spread: +0.001% → +0.015%: −$1.41
Slippage, 4 orders: −$7.72
Fee Lighter RH: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$25.85
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; OKX: 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, 3 min ago	1.08 bp	1.9 bp −$2	5.4 bp −$54	45.0 bp −$4,499	doesn't fit
Sell OKX live order book, 3 min ago	0.20 bp	5.4 bp −$5	20.4 bp −$204	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	742.00	−0.093%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0033%	1h	741.90	−0.106%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.12	−0.077%	$467K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.41	−0.038%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.65	−0.005%	$27.4M	$179.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.48	−0.028%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	742.70	+0.001%	$6.0M	$13.4M	20x
Gate META_USDT	0.0000%	8h	742.10	−0.079%	$346K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.36	−0.044%	$5.5M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	742.15	−0.073%	$2.3M	$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_Perp	0.0000%	8h	741.50	−0.161%	$12K	$431K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.51	−0.024%	$999	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.74	−0.128%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.21	−0.065%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.20	−0.066%	$2.0M	$8K	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	742.69	long leg	$765K	$3.0M	20x
QFEX META-USD	+0.0032%	1h	742.01	−0.092%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.31	−0.186%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.16	−0.071%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.30	−0.053%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.04	−0.088%	$559K	$539K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.37	−0.043%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.38	−0.176%	$703K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	742.06	−0.085%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	742.21	−0.065%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.64	−0.141%	$628K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.24	−0.061%	$1.6M	$515K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.62	−0.279%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.22	−0.063%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.14	−0.074%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.40	−0.174%	$171K	$48K	30x	as long as short
Lighter META	+0.0248%	1h	742.64	−0.007%	$862K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0248%	1h	742.01	−0.092%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0340%	1h	742.57	−0.016%	$69.3M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	742.27	−0.057%	$534K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0680%	4h	741.29	−0.189%	$62K	$337K	10x	as long as short