Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h —

Price spread now: Lighter against Paradex+0.027%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

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

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter is 0.027% dearer against Paradex than usual: you sell high and buy low: +$3 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	Paradex META-USD-PERP	743.83	0.0098	pay 0.0098% / 8h	3h 48m	—	—	5x
Short	Lighter META	744.03	0.0256	get 0.0032% / 1h	48m 59s	$862K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Paradex. 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 ParadexbpFee LighterbpOrdersPrice spread, now +0.027%Rate

Funding earned: $33.11
Price spread: +0.027% → 0.000%: $2.75
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $31.85
Costs to cover: 0.040%
Break-even: 0.3 days

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 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 Paradex no order-book sample	—	—	—	—	—
Sell Lighter live order book, 3 min ago	0.13 bp	0.2 bp $0	1.8 bp −$18	doesn't fit	doesn't fit

Paradex: 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	743.96	+0.018%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0012%	1h	743.51	−0.042%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.06	+0.031%	$469K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.73	−0.013%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.83	+0.001%	$28.4M	$182.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.59	−0.032%	$7.6M	$14.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.92	+0.013%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.36	−0.063%	$365K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.88	+0.007%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.05	+0.031%	$2.4M	$3.2M	—	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	744.65	+0.111%	$12K	$452K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.94	+0.015%	$646	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.49	−0.045%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.80	−0.003%	$106K	$302K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.53	+0.095%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	744.07	+0.033%	$781K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.88	+0.007%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.11	+0.038%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.88	+0.007%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.64	−0.025%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.92	+0.013%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.23	−0.080%	$800K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	743.80	−0.003%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	744.72	+0.121%	$52K	$82K	10x	as long as short
Paradex META-USD-PERPlong	+0.0098%	8h	743.83	long leg	—	—	5x
KuCoin METAUSDTM	+0.0100%	8h	743.96	+0.018%	$1.6M	$599K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.72	−0.014%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.97	+0.019%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.80	−0.004%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.82	−0.001%	$623K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.56	+0.368%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0224%	1h	744.11	+0.038%	$33K	$105	20x	as long as short
Lighter METAshort	+0.0256%	1h	744.03	+0.027%	$862K	$2.4M	20x
tradeXYZ xyz:META	+0.0318%	1h	743.90	+0.010%	$70.0M	$121.0M	20x	as long as short
edgeX METAUSDC	+0.0578%	4h	744.50	+0.091%	$62K	$337K	10x	as long as short
Phoenix META	+0.0633%	1h	745.49	+0.224%	$758K	$1.4M	20x	as long as short