Funding you earn now, next payment 01:00 UTC+0.0281%/8h= +30.8% APRnext payment +$0.35 per $10,000 · paid last 24h +0.042%
Price spread now: Phoenix against Lighter RH+0.063%7-day average −0.029% · you sell dearer than you buy
Net, funding: paid 7d − costs+$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$210.206% of the position
Funding, last 7 days+0.289%+$29 on $10k
+Price spread, last 4 days (all we have)−0.519%−$52 · spread now +0.063%, 7d avg −0.029%
=Together, before fees−0.231%+ Points / potential airdropLighter RH: Points live · farm board−$23 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Phoenix is 0.092% dearer against Lighter RH than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.029%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH META | 740.30 | 0.0032 | pay 0.0004% / 1h | 44m 43s | $750K | $3.0M | 20x |
| Short | Phoenix META | 740.77 | 0.0313 | get 0.0039% / 1h | 44m 43s | $373K | $1.1M | 20x |
Lighter RH META
Phoenix METAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $59.01
- Price spread: +0.063% → −0.029%
- $9.23
- Slippage, 4 orders
- −$13.61
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $47.63
- Costs to cover
- 0.206%
- Break-even
- 1.4 days
Slippage from Lighter RH: live order book, 3 min ago; Phoenix: 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 | 1.76 bp | 1.9 bp −$2 | 4.3 bp −$43 | 51.1 bp −$5,111 | doesn't fit |
| Sell Phoenix live order book, 3 min ago | 2.03 bp | 8.0 bp −$8 | 15.1 bp −$151 | 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 | −0.0160% | 1h | 739.78 | −0.070% | $478K | $546K | 20x | as long as short |
| BloFin META-USDT | −0.0120% | 8h | 739.99 | −0.042% | $327K | $1.1M | 20x | as long as short |
| Aster METAUSDT | 0.0000% | 8h | 740.60 | +0.040% | $466K | $549K | 20x | as long as short |
| Extended META_24_5-USD | 0.0000% | 1h | 739.94 | −0.048% | $550K | $2.7M | 17x | as long as short |
| Binance METAUSDT | 0.0000% | 8h | 740.22 | −0.011% | $27.4M | $179.3M | 20x | as long as short |
| Bybit METAUSDT | 0.0000% | 8h | 740.12 | −0.024% | $7.5M | $13.8M | 100x | as long as short |
| OKX META-USDT-SWAP | 0.0000% | 8h | 740.16 | −0.019% | $5.9M | $13.2M | 20x | as long as short |
| Gate META_USDT | 0.0000% | 8h | 740.16 | −0.019% | $351K | $5.6M | 100x | as long as short |
| Bitget METAUSDT | 0.0000% | 8h | 740.27 | −0.004% | $5.5M | $11.3M | 100x | as long as short |
| Variational Omni META | 0.0000% | 8h | 740.01 | −0.039% | $2.4M | $3.1M | — | as long as short |
Nado META-PERP
BloFin META-USDT
Aster METAUSDT
Extended META_24_5-USD
Binance METAUSDT
Bybit METAUSDT
OKX META-USDT-SWAP
Gate META_USDT
Bitget METAUSDT
Variational Omni METAShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT META_USDT_Perp | 0.0000% | 8h | 740.09 | −0.028% | $13K | $446K | 10x | as long as short |
| SunX META-USDT | 0.0000% | 8h | 740.18 | −0.016% | $648 | $9.2M | 20x | as long as short |
| Deribit META_USDC-PERPETUAL | 0.0000% | 1h | 739.54 | −0.103% | $30K | $244K | 10x | as long as short |
| HTX META-USDT | 0.0000% | 8h | 739.76 | −0.073% | $105K | $296K | 30x | as long as short |
| Phemex METAUSDT | 0.0000% | 4h | 740.46 | +0.022% | $2.0M | $8K | 10x | as long as short |
| QFEX META-USD | +0.0025% | 1h | 739.93 | −0.050% | $2.2M | $14.0M | 10x | as long as short |
| Lighter RH METAlong | +0.0032% | 1h | 740.30 | long leg | $750K | $3.0M | 20x | |
| Arcus META-USD | +0.0040% | 1h | 739.71 | −0.080% | $110K | $330K | 10x | as long as short |
| Vest META-USD-PERP | +0.0046% | 1h | 740.19 | −0.015% | — | $11K | 25x | as long as short |
| Popdex METAUSDT | +0.0048% | 1h | 739.96 | −0.046% | $176K | $197K | 20x | as long as short |
| Polymarket Perps META-USD | +0.0050% | 1h | 739.73 | −0.077% | $557K | $855K | 10x | as long as short |
| SoDEX META-USD | +0.0050% | 1h | 740.03 | −0.036% | $24K | $3K | 10x | as long as short |
| Ondo Perps META-USD.P | +0.0050% | 1h | 739.46 | −0.113% | $692K | $4.3M | 10x | as long as short |
| Paradex META-USD-PERP | +0.0057% | 8h | 739.98 | −0.044% | — | — | 5x | as long as short |
| Aftermath Perps METAUSD | +0.0068% | 1h | 740.68 | +0.051% | $49K | $80K | 10x | as long as short |
| KuCoin METAUSDTM | +0.0100% | 8h | 740.21 | −0.012% | $1.6M | $465K | 20x | as long as short |
| ApeX Omni METAUSDT | +0.0100% | 1h | 739.43 | −0.118% | $166K | $71K | 50x | as long as short |
| Orderly PERP_META_USDC_mythos | +0.0100% | 8h | 740.10 | −0.027% | $1K | $24 | 10x | as long as short |
| Lighter META | +0.0104% | 1h | 740.23 | −0.009% | $856K | $2.4M | 20x | as long as short |
| Aevo META-PERP | +0.0104% | 1h | 739.87 | −0.058% | $266 | — | 10x | as long as short |
| Coinbase International META-PERP-INTX | +0.0104% | 1h | 740.05 | −0.034% | $610K | $7.3M | 10x | as long as short |
| Hotstuff META-PERP | +0.0112% | 1h | 740.19 | −0.015% | $33K | $105 | 20x | as long as short |
| Injective META/USDC PERP | +0.0220% | 1h | 742.52 | +0.300% | $171K | $48K | 30x | as long as short |
| tradeXYZ xyz:META | +0.0255% | 1h | 740.33 | +0.004% | $68.3M | $120.4M | 20x | as long as short |
| Phoenix METAshort | +0.0313% | 1h | 740.77 | +0.063% | $373K | $1.1M | 20x | |
| edgeX METAUSDC | +0.0828% | 4h | 739.94 | −0.048% | $62K | $336K | 10x | as long as short |
GRVT META_USDT_Perp
SunX META-USDT
Deribit META_USDC-PERPETUAL
HTX META-USDT
Phemex METAUSDT
QFEX META-USD
Arcus META-USD
Vest META-USD-PERP
Popdex METAUSDT
Polymarket Perps META-USD
SoDEX META-USD
Ondo Perps META-USD.P
Paradex META-USD-PERP
Aftermath Perps METAUSD
KuCoin METAUSDTM
ApeX Omni METAUSDT
Orderly PERP_META_USDC_mythos
Lighter META
Aevo META-PERP
Coinbase International META-PERP-INTX
Hotstuff META-PERP
Injective META/USDC PERP
tradeXYZ xyz:META
edgeX METAUSDC