Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.014%

Price spread now: Lighter RH against Orderly+0.013%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_META_USDC_mythos	743.91	0.0100	pay 0.0100% / 8h	4h 17m	$1K	$24	10x
Short	Lighter RH META	744.01	0.0032	get 0.0004% / 1h	17m 20s	$772K	$3.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Orderly. 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 OrderlybpFee Lighter RHbpOrdersPrice spread, now +0.013%Rate

Funding earned: −$14.28
Price spread: +0.013% → 0.000%: $1.34
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$18.94
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Lighter RH: live order book, 1 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 Orderly no order-book sample	—	—	—	—	—
Sell Lighter RH live order book, 1 min ago	1.61 bp	2.2 bp −$2	4.4 bp −$44	44.8 bp −$4,476	doesn't fit

Orderly: 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	743.99	+0.011%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0021%	1h	743.37	−0.073%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.40	−0.069%	$468K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.71	−0.027%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.91	0.000%	$28.0M	$181.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.11	+0.027%	$7.6M	$14.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.96	+0.007%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.48	−0.058%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.92	+0.001%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.78	−0.152%	$2.4M	$3.1M	—	as long as short

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	744.09	+0.024%	$13K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.81	−0.013%	$1K	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.88	−0.004%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.41	−0.067%	$2.0M	$8K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0019%	1h	743.52	−0.052%	$31K	$246K	10x	as long as short
Lighter RH METAshort	+0.0032%	1h	744.01	+0.013%	$772K	$3.0M	20x
QFEX META-USD	+0.0036%	1h	743.79	−0.016%	$2.2M	$13.8M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.16	−0.101%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.02	+0.015%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.94	+0.004%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.48	−0.058%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.86	−0.007%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.27	−0.086%	$765K	$4.5M	10x	as long as short
Paradex META-USD-PERP	+0.0069%	8h	743.80	−0.015%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	743.65	−0.036%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.51	−0.054%	$1.6M	$550K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.15	−0.102%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythoslong	+0.0100%	8h	743.91	long leg	$1K	$24	10x
Aevo META-PERP	+0.0104%	1h	743.75	−0.021%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.78	−0.017%	$626K	$7.2M	10x	as long as short
edgeX METAUSDC	+0.0104%	4h	743.84	−0.010%	$62K	$337K	10x	as long as short
Hotstuff META-PERP	+0.0160%	1h	743.79	−0.016%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.66	−0.168%	$171K	$48K	30x	as long as short
Lighter META	+0.0248%	1h	743.97	+0.008%	$864K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0271%	1h	743.85	−0.008%	$69.5M	$120.5M	20x	as long as short
Phoenix META	+0.0591%	1h	744.70	+0.106%	$696K	$1.2M	20x	as long as short