Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0068%/8h= +7.4% APRnext payment +$0.09 per $10,000 · paid last 24h —

Price spread now: Pacifica against Lighter RH−0.030%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 2 hours (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · Pacifica: Active · farm boardneeds both histories

Funding pays, the price is against you. Pacifica is 0.030% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.030% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 36 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	745.11	0.0032	pay 0.0004% / 1h	45m 54s	$795K	$2.9M	20x
Short	Pacifica META	744.88	0.0100	get 0.0013% / 1h	45m 54s	$635	$1K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.030%Rate

Funding earned: $14.28
Price spread: −0.030% → 0.000%: −$3.04
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $3.24
Costs to cover: 0.080%
Break-even: 5.4 days

Slippage unknown: Lighter RH: live order book, 2 min ago; Pacifica: no order-book sample. Net counts fees only.

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, 2 min ago	1.41 bp	2.1 bp −$2	5.5 bp −$55	41.9 bp −$4,190	doesn't fit
Sell Pacifica no order-book sample	—	—	—	—	—

Pacifica: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	745.52	+0.055%	$334K	$1.1M	20x	as long as short
Nado META-PERP	−0.0044%	1h	744.43	−0.092%	$480K	$561K	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.00	+0.119%	$489K	$603K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.88	−0.031%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.16	+0.007%	$25.7M	$191.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.05	−0.008%	$7.4M	$15.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.78	−0.044%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.66	−0.060%	$474K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.02	−0.012%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.82	−0.039%	$2.5M	$3.0M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	746.46	+0.181%	$12K	$443K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.04	−0.009%	$1K	$7.9M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.71	−0.054%	$53K	$290K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.78	−0.044%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.46	+0.047%	$2.0M	$8K	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	745.11	long leg	$795K	$2.9M	20x
QFEX META-USD	+0.0036%	1h	744.95	−0.021%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	744.48	−0.085%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.50	+0.052%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.80	−0.042%	$180K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.20	−0.122%	$566K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.86	−0.034%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.77	−0.046%	$724K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	744.92	−0.026%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	745.46	+0.047%	$49K	$90K	10x	as long as short
Pacifica METAshort	+0.0100%	1h	744.88	−0.030%	$635	$1K	10x
KuCoin METAUSDTM	+0.0100%	8h	745.25	+0.019%	$1.6M	$750K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.98	+0.117%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.27	+0.021%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.04	−0.009%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	744.50	−0.082%	$652K	$8.1M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.08	+0.399%	$177K	$52K	30x	as long as short
Lighter META	+0.0224%	1h	745.28	+0.023%	$1.2M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0262%	1h	744.84	−0.036%	$84.2M	$132.7M	20x	as long as short
Hotstuff META-PERP	+0.0328%	1h	746.35	+0.166%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0372%	4h	746.05	+0.126%	$63K	$347K	10x	as long as short
Phoenix META	+0.0791%	1h	746.70	+0.213%	$797K	$1.5M	20x	as long as short