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 +0.009%

Price spread now: Variational Omni against Lighter RH−0.030%7-day average −0.017% · you buy dearer than you sell

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

Long on Lighter RH Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.030%, 7d avg −0.017%

Together, before fees+0.008%+ Points / potential airdropLighter RH: Points live · Variational Omni: Active · farm board+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, 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	739.01	0.0032	pay 0.0004% / 1h	35m 56s	$756K	$3.1M	20x
Short	Variational Omni META	738.79	0	get 0.0000% / 8h	7h 35m	$2.3M	$3.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.030%Rate

Funding earned: −$6.72
Price spread: −0.030% → −0.017%: −$1.23
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.95
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Lighter RH: live order book, 2 min ago; Variational Omni: RFQ quote, 3 min ago. 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	1.96 bp	2.2 bp −$2	6.2 bp −$62	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.46 bp	doesn't fit	20.1 bp −$201	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
Phemex METAUSDT	−0.0244%	4h	738.69	−0.043%	$2.0M	$8K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	738.54	−0.064%	$329K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	738.80	−0.028%	$465K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	738.70	−0.041%	$547K	$2.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	738.89	−0.016%	$27.2M	$179.1M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	738.87	−0.019%	$7.6M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	738.80	−0.028%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	738.58	−0.058%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	738.76	−0.034%	$5.6M	$11.1M	100x	as long as short
Variational Omni METAshort	0.0000%	8h	738.79	−0.030%	$2.3M	$3.3M	—

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	738.15	−0.116%	$12K	$479K	10x	as long as short
SunX META-USDT	0.0000%	8h	739.13	+0.016%	$765	$9.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	738.70	−0.042%	$106K	$292K	30x	as long as short
Deribit META_USDC-PERPETUAL	+0.0021%	1h	738.47	−0.073%	$30K	$247K	10x	as long as short
Nado META-PERP	+0.0031%	1h	738.48	−0.072%	$373K	$344K	20x	as long as short
Lighter RH METAlong	+0.0032%	1h	739.01	long leg	$756K	$3.1M	20x
Vest META-USD-PERP	+0.0046%	1h	738.92	−0.012%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	738.93	−0.011%	$177K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	738.77	−0.032%	$556K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	738.81	−0.027%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	738.20	−0.110%	$692K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	738.91	−0.014%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	738.17	−0.114%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0069%	8h	738.68	−0.045%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	739.41	+0.054%	$48K	$80K	10x	as long as short
Hotstuff META-PERP	+0.0080%	1h	738.42	−0.080%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	738.85	−0.022%	$1.6M	$425K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	737.51	−0.203%	$165K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	738.82	−0.026%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	738.65	−0.049%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	738.49	−0.070%	$604K	$7.3M	10x	as long as short
tradeXYZ xyz:META	+0.0171%	1h	738.88	−0.018%	$67.4M	$121.4M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.07	+0.143%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	738.15	−0.116%	$277K	$930K	20x	as long as short
Lighter META	+0.0280%	1h	739.06	+0.007%	$850K	$2.5M	20x	as long as short
edgeX METAUSDC	+0.0801%	4h	737.90	−0.150%	$62K	$333K	10x	as long as short