Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0348%/8h= +38.1% APRnext payment +$0.43 per $10,000 · paid last 24h —

Price spread now: Lighter against Pacifica+0.043%7-day average — · you sell dearer than you buy

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

Long on Pacifica Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 2 hours (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropPacifica: Active · Lighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Lighter is 0.043% dearer against Pacifica than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica META	745.76	0.0100	pay 0.0013% / 1h	23m 28s	$48	$307	10x
Short	Lighter META	746.08	0.0448	get 0.0056% / 1h	23m 28s	$1.1M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Pacifica. 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 PacificabpFee LighterbpOrdersPrice spread, now +0.043%Rate

Funding earned: $73.08
Price spread: +0.043% → 0.000%: $4.26
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $69.34
Costs to cover: 0.080%
Break-even: 0.4 days

Slippage unknown: Pacifica: no order-book sample; Lighter: live order book, 9 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 Pacifica no order-book sample	—	—	—	—	—
Sell Lighter live order book, 9 min ago	0.13 bp	0.2 bp $0	2.2 bp −$22	doesn't fit	doesn't fit

Pacifica: 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 37 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	745.98	+0.029%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.45	−0.041%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.45	−0.042%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.76	0.000%	$25.2M	$188.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.47	−0.039%	$7.5M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.72	−0.006%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.31	−0.061%	$468K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.63	−0.018%	$5.5M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	745.59	−0.024%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.07	+0.041%	$12K	$438K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.61	−0.020%	$1K	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.49	−0.037%	$34K	$276K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.48	−0.038%	$107K	$311K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.83	+0.009%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0020%	1h	745.22	−0.073%	$480K	$560K	20x	as long as short
QFEX META-USD	+0.0031%	1h	745.51	−0.034%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0040%	1h	745.90	+0.018%	$789K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.45	−0.042%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.20	+0.059%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.43	−0.045%	$567K	$624K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.68	−0.011%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.01	−0.101%	$747K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	745.44	−0.043%	—	—	5x	as long as short
Popdex METAUSDT	+0.0056%	1h	745.59	−0.023%	$177K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.55	+0.105%	$48K	$91K	10x	as long as short
Pacifica METAlong	+0.0100%	1h	745.76	long leg	$48	$307	10x
KuCoin METAUSDTM	+0.0100%	8h	745.72	−0.006%	$1.6M	$720K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.32	−0.059%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.74	−0.003%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.57	−0.025%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.74	−0.003%	$643K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.85	+0.012%	$174K	$48K	30x	as long as short
Lighter METAshort	+0.0448%	1h	746.08	+0.043%	$1.1M	$2.9M	20x
Hotstuff META-PERP	+0.0480%	1h	746.19	+0.057%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0566%	1h	746.35	+0.079%	$82.0M	$130.2M	20x	as long as short
Phoenix META	+0.0750%	1h	746.92	+0.155%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0922%	4h	745.81	+0.006%	$62K	$344K	10x	as long as short