Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter RH against Phemex+0.008%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$920.922% of the position

Long on Phemex Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.008%, 7d avg −0.019%

Together, before fees−0.042%+ Points / potential airdropLighter RH: Points live · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter RH is 0.027% dearer against Phemex than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex METAUSDT	745.00	0	get 0.0000% / 4h	1h 29m	$2.0M	$8K	10x
Short	Lighter RH META	745.06	0.0032	get 0.0004% / 1h	29m 41s	$786K	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Phemex. 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 PhemexbpFee Lighter RHbpOrdersPrice spread, now +0.008%Rate

Funding earned: $6.72
Price spread: +0.008% → −0.019%: $2.71
Slippage, 4 orders: −$80.19
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$82.75
Costs to cover: 0.922%
Break-even: 93.2 days

Slippage from Phemex: live order book, 4 min ago; Lighter RH: live order book, 4 min ago.

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 Phemex live order book, 4 min ago	1.48 bp	48.4 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	1.21 bp	3.3 bp −$3	7.9 bp −$79	44.8 bp −$4,477	doesn't fit

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	744.62	−0.051%	$333K	$1.1M	20x	as long as short
Nado META-PERP	−0.0039%	1h	744.78	−0.030%	$482K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.16	+0.021%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.52	−0.065%	$552K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.69	−0.042%	$25.0M	$188.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.91	−0.012%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.80	−0.027%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.27	−0.098%	$460K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.80	−0.027%	$5.6M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.51	−0.065%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.97	−0.004%	$12K	$439K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.85	−0.020%	$924	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.56	−0.059%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.89	−0.015%	$106K	$308K	30x	as long as short
Phemex METAUSDTlong	0.0000%	4h	745.00	long leg	$2.0M	$8K	10x
QFEX META-USD	+0.0031%	1h	744.88	−0.016%	$2.2M	$14.0M	10x	as long as short
Lighter RH METAshort	+0.0032%	1h	745.06	+0.008%	$786K	$2.9M	20x
Arcus META-USD	+0.0040%	1h	744.44	−0.075%	$112K	$340K	10x	as long as short
edgeX METAUSDC	+0.0044%	4h	744.89	−0.015%	$62K	$344K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.23	+0.031%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.15	+0.020%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.58	−0.056%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.02	+0.003%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.09	−0.122%	$696K	$5.3M	10x	as long as short
Paradex META-USD-PERP	+0.0061%	8h	744.69	−0.041%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.54	+0.072%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.85	−0.020%	$1.6M	$680K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.69	−0.042%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.01	+0.001%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.91	−0.012%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.98	−0.003%	$655K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.56	+0.209%	$172K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	745.19	+0.026%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0376%	1h	745.48	+0.064%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0498%	1h	745.18	+0.024%	$77.5M	$127.7M	20x	as long as short
Phoenix META	+0.0739%	1h	745.19	+0.026%	$796K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	744.91	−0.012%	$13	$46	—	as long as short