Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: SunX against Lighter RH+0.029%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$700.698% of the position

Long on Lighter RH Short on SunX

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)+0.098%+$10 · spread now +0.029%, 7d avg +0.004%

Together, before fees+0.021%+ Points / potential airdropLighter RH: Points live · farm board+$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.024% dearer against Lighter RH than usual: you sell high and buy low (spread +0.029% now, against its 7-day average of +0.004%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	736.82	0.0032	pay 0.0004% / 1h	27m 50s	$866K	$2.8M	20x
Short	SunX META-USDT	737.03	0	get 0.0000% / 8h	4h 27m	$938	$6.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$6.72
Price spread: +0.029% → +0.004%: $2.4
Slippage, 4 orders: −$61.83
Fee Lighter RH: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$74.15
Costs to cover: 0.698%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; SunX: live order book, 4 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	1.15 bp	1.3 bp −$1	5.0 bp −$50	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	28.48 bp	32.5 bp −$32	62.0 bp −$620	doesn't fit	doesn't fit

META on 36 exchanges

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	736.58	−0.033%	$338K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	736.73	−0.012%	$486K	$656K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	736.45	−0.050%	$542K	$3.9M	17x	as long as short
Binance METAUSDT	0.0000%	8h	736.70	−0.016%	$24.6M	$192.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	736.61	−0.029%	$7.4M	$16.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	736.61	−0.029%	$6.1M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	736.22	−0.081%	$491K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	736.62	−0.027%	$5.8M	$12.5M	100x	as long as short
Variational Omni META	0.0000%	8h	736.62	−0.027%	$2.6M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	736.88	+0.008%	$12K	$420K	10x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDTshort	0.0000%	8h	737.03	+0.029%	$938	$6.6M	20x
HTX META-USDT	0.0000%	8h	736.63	−0.026%	$107K	$309K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	737.30	+0.065%	$2.0M	$10K	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	736.82	long leg	$866K	$2.8M	20x
Vest META-USD-PERP	+0.0046%	1h	736.60	−0.030%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	736.78	−0.005%	$177K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	736.38	−0.060%	$555K	$586K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	736.58	−0.033%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	735.86	−0.130%	$736K	$5.1M	10x	as long as short
QFEX META-USD	+0.0056%	1h	736.41	−0.056%	$2.2M	$14.1M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	736.29	−0.072%	—	—	5x	as long as short
Nado META-PERP	+0.0070%	1h	736.19	−0.085%	$479K	$547K	20x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	737.27	+0.060%	$53K	$84K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0088%	1h	735.99	−0.113%	$675K	$7.4M	10x	as long as short
Pacifica META	+0.0100%	1h	736.66	−0.021%	$600	$3K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	736.66	−0.022%	$1.6M	$959K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	736.03	−0.107%	$165K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	736.60	−0.030%	$1K	$338	10x	as long as short
Aevo META-PERP	+0.0104%	1h	736.33	−0.067%	$265	—	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0144%	1h	736.28	−0.073%	$36K	$208K	10x	as long as short
Arcus META-USD	+0.0209%	1h	736.24	−0.079%	$112K	$294K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.11	+0.311%	$167K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0266%	1h	736.64	−0.024%	$86.3M	$136.7M	20x	as long as short
Lighter META	+0.0352%	1h	736.99	+0.023%	$1.5M	$3.1M	20x	as long as short
Phoenix META	+0.0626%	1h	737.49	+0.091%	$787K	$1.6M	20x	as long as short
edgeX METAUSDC	+0.0780%	4h	736.89	+0.010%	$62K	$352K	10x	as long as short