Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.018%

Price spread now: Phemex against Lighter RH+0.018%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$920.924% of the position

Long on Lighter RH Short on Phemex

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.093%+$9 · spread now +0.018%, 7d avg +0.020%

Together, before fees+0.017%+ Points / potential airdropLighter RH: Points live · farm board+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, 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	740.75	0.0032	pay 0.0004% / 1h	3m 31s	$753K	$3.2M	20x
Short	Phemex METAUSDT	740.88	0	get 0.0000% / 4h	3h 03m	$2.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$6.72
Price spread: +0.018% → +0.020%: −$0.29
Slippage, 4 orders: −$80.43
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$99.44
Costs to cover: 0.924%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; Phemex: live order book, 5 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, 5 min ago	1.42 bp	1.8 bp −$2	5.9 bp −$59	47.5 bp −$4,749	doesn't fit
Sell Phemex live order book, 5 min ago	1.96 bp	50.8 bp −$51	doesn't fit	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	740.79	+0.005%	$326K	$1.1M	20x	as long as short
Nado META-PERP	−0.0095%	1h	740.42	−0.044%	$490K	$518K	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0034%	1h	740.52	−0.031%	$31K	$246K	10x	as long as short
Aster METAUSDT	0.0000%	8h	740.28	−0.063%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.36	−0.052%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.57	−0.024%	$27.4M	$179.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.73	−0.003%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.32	−0.058%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.51	−0.032%	$351K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.55	−0.027%	$5.6M	$11.3M	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	740.83	+0.011%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.87	+0.017%	$13K	$453K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.05	+0.040%	$822	$9.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.66	−0.012%	$105K	$295K	30x	as long as short
Phemex METAUSDTshort	0.0000%	4h	740.88	+0.018%	$2.0M	$8K	10x
Lighter RH METAlong	+0.0032%	1h	740.75	long leg	$753K	$3.2M	20x
Vest META-USD-PERP	+0.0046%	1h	740.96	+0.028%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.51	−0.032%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.75	0.000%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.87	+0.016%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.07	−0.092%	$686K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.41	−0.046%	$2.2M	$14.1M	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	740.58	−0.023%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	740.20	−0.074%	$110K	$331K	10x	as long as short
Aftermath Perps METAUSD	+0.0068%	1h	740.95	+0.027%	$48K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.81	+0.008%	$1.6M	$454K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.31	−0.059%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.82	+0.009%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.69	−0.008%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	740.63	−0.016%	$608K	$7.4M	10x	as long as short
Hotstuff META-PERP	+0.0152%	1h	740.70	−0.007%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0166%	1h	740.70	−0.007%	$67.9M	$121.1M	20x	as long as short
Lighter META	+0.0200%	1h	740.76	+0.001%	$857K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.98	+0.166%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	740.42	−0.045%	$330K	$930K	20x	as long as short
edgeX METAUSDC	+0.0394%	4h	740.15	−0.081%	$62K	$335K	10x	as long as short