Funding you earn now, next payment 01:00 UTC+0.0198%/8h= +21.6% APRnext payment +$0.25 per $10,000 · paid last 24h +0.025%
Price spread now: Lighter against Ondo Perps+0.139%7-day average +0.059% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.015%+$2 on $10k
+Price spread, last 4 days (all we have)−0.150%−$15 · spread now +0.139%, 7d avg +0.059%
=Together, before fees−0.135%+ Points / potential airdropOndo Perps: Active · Lighter: Season 3 · farm board−$13 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.080% dearer against Ondo Perps than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.059%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.015% in total (about 0.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps META-USD.P | 739.36 | 0.0050 | pay 0.0006% / 1h | 53m 17s | $746K | $4.3M | 10x |
| Short | Lighter META | 740.39 | 0.0248 | get 0.0031% / 1h | 53m 17s | $856K | $2.4M | 20x |
Ondo Perps META-USD.P
Lighter METAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Ondo Perps. 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
- $41.5
- Price spread: +0.139% → +0.059%
- $8.01
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $44.5
- Costs to cover
- 0.050%
- Break-even
- from the start
Slippage unknown: Ondo Perps: no order-book sample; Lighter: live order book, 4 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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 4 min ago | 0.61 bp | 0.6 bp −$1 | 1.0 bp −$10 | doesn't fit | doesn't fit |
Ondo Perps: 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 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 | 740.04 | +0.092% | $327K | $1.1M | 20x | as long as short |
| Aster METAUSDT | 0.0000% | 8h | 740.89 | +0.207% | $461K | $545K | 20x | as long as short |
| Extended META_24_5-USD | 0.0000% | 1h | 740.08 | +0.098% | $549K | $1.6M | 17x | as long as short |
| Binance METAUSDT | 0.0000% | 8h | 740.24 | +0.119% | $27.4M | $179.0M | 20x | as long as short |
| Bybit METAUSDT | 0.0000% | 8h | 740.17 | +0.110% | $7.5M | $13.9M | 100x | as long as short |
| OKX META-USDT-SWAP | 0.0000% | 8h | 740.20 | +0.114% | $6.0M | $13.3M | 20x | as long as short |
| Gate META_USDT | 0.0000% | 8h | 739.93 | +0.077% | $357K | $5.6M | 100x | as long as short |
| Bitget METAUSDT | 0.0000% | 8h | 740.10 | +0.100% | $5.6M | $11.1M | 100x | as long as short |
| Variational Omni META | 0.0000% | 8h | 740.51 | +0.155% | $2.3M | $3.2M | — | as long as short |
| GRVT META_USDT_Perp | 0.0000% | 8h | 740.74 | +0.187% | $12K | $484K | 10x | as long as short |
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 META
GRVT META_USDT_PerpShow all 36 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX META-USDT | 0.0000% | 8h | 739.79 | +0.058% | $849 | $9.4M | 20x | as long as short |
| HTX META-USDT | 0.0000% | 8h | 739.51 | +0.020% | $106K | $285K | 30x | as long as short |
| Phemex METAUSDT | 0.0000% | 4h | 740.81 | +0.196% | $2.0M | $7K | 10x | as long as short |
| Nado META-PERP | +0.0016% | 1h | 739.78 | +0.057% | $384K | $334K | 20x | as long as short |
| Lighter RH META | +0.0032% | 1h | 740.22 | +0.116% | $758K | $3.1M | 20x | as long as short |
| Vest META-USD-PERP | +0.0046% | 1h | 740.31 | +0.128% | — | $11K | 25x | as long as short |
| Popdex METAUSDT | +0.0048% | 1h | 740.21 | +0.115% | $178K | $194K | 20x | as long as short |
| Polymarket Perps META-USD | +0.0050% | 1h | 739.95 | +0.080% | $557K | $857K | 10x | as long as short |
| SoDEX META-USD | +0.0050% | 1h | 739.91 | +0.074% | $24K | $3K | 10x | as long as short |
| Ondo Perps META-USD.Plong | +0.0050% | 1h | 739.36 | long leg | $746K | $4.3M | 10x | |
| QFEX META-USD | +0.0055% | 1h | 739.99 | +0.085% | $2.2M | $14.2M | 10x | as long as short |
| Hotstuff META-PERP | +0.0056% | 1h | 739.80 | +0.060% | $33K | $105 | 20x | as long as short |
| Arcus META-USD | +0.0063% | 1h | 740.08 | +0.097% | $110K | $331K | 10x | as long as short |
| Paradex META-USD-PERP | +0.0071% | 8h | 739.81 | +0.061% | — | — | 5x | as long as short |
| Aftermath Perps METAUSD | +0.0071% | 1h | 740.59 | +0.166% | $49K | $77K | 10x | as long as short |
| KuCoin METAUSDTM | +0.0100% | 8h | 740.28 | +0.124% | $1.6M | $411K | 20x | as long as short |
| ApeX Omni METAUSDT | +0.0100% | 1h | 740.19 | +0.112% | $166K | $73K | 50x | as long as short |
| Orderly PERP_META_USDC_mythos | +0.0100% | 8h | 740.19 | +0.112% | $1K | $24 | 10x | as long as short |
| Deribit META_USDC-PERPETUAL | +0.0102% | 1h | 739.63 | +0.037% | $30K | $253K | 10x | as long as short |
| Aevo META-PERP | +0.0104% | 1h | 740.01 | +0.088% | $266 | — | 10x | as long as short |
| tradeXYZ xyz:META | +0.0121% | 1h | 739.92 | +0.076% | $67.6M | $121.2M | 20x | as long as short |
| Coinbase International META-PERP-INTX | +0.0144% | 1h | 740.11 | +0.101% | $602K | $7.3M | 10x | as long as short |
| Injective META/USDC PERP | +0.0220% | 1h | 740.31 | +0.128% | $168K | $46K | 30x | as long as short |
| Lighter METAshort | +0.0248% | 1h | 740.39 | +0.139% | $856K | $2.4M | 20x | |
| Phoenix META | +0.0259% | 1h | 740.67 | +0.177% | $287K | $930K | 20x | as long as short |
| edgeX METAUSDC | +0.0751% | 4h | 740.87 | +0.204% | $62K | $332K | 10x | as long as short |
SunX META-USDT
HTX META-USDT
Phemex METAUSDT
Nado META-PERP
Lighter RH META
Vest META-USD-PERP
Popdex METAUSDT
Polymarket Perps META-USD
SoDEX META-USD
QFEX META-USD
Hotstuff META-PERP
Arcus META-USD
Paradex META-USD-PERP
Aftermath Perps METAUSD
KuCoin METAUSDTM
ApeX Omni METAUSDT
Orderly PERP_META_USDC_mythos
Deribit META_USDC-PERPETUAL
Aevo META-PERP
tradeXYZ xyz:META
Coinbase International META-PERP-INTX
Injective META/USDC PERP
Phoenix META
edgeX METAUSDC