META

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0246%/8h= +26.9% APRnext payment +$0.31 per $10,000 · paid last 24h +0.034%

Price spread now: Lighter against Polymarket Perps+0.101%45s7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.203% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 7 days+0.060%+$6 · spread now +0.101%, 7d avg +0.036%

Together, before fees+0.083%+ Points / potential airdropLighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Lighter is 0.064% dearer against Polymarket Perps than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.036%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.023% in total (about 1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.31 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	Polymarket Perps META-USD	744.28	0.0050	pay 0.0006% / 1h	0m 37s	$566K	$618K	10x
Short	Lighter META	745.03	0.0296	get 0.0037% / 1h	0m 37s	$1.2M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now +0.101%Rate

Funding earned: $51.66
Price spread: +0.101% → +0.036%: $6.44
Slippage, 4 orders: −$12.3
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $37.8
Costs to cover: 0.203%
Break-even: 1.9 days

Slippage from Polymarket Perps: live order book, 18 min ago; Lighter: live order book, 7 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 Polymarket Perps live order book, 18 min ago	3.97 bp	8.6 bp −$9	8.6 bp −$86	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.67 bp	1.1 bp −$1	1.9 bp −$19	doesn't fit	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	744.81	+0.071%	$334K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.80	+0.070%	$490K	$623K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	744.61	+0.045%	$546K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.97	+0.093%	$25.9M	$191.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.23	+0.128%	$7.7M	$15.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.67	+0.052%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.26	−0.003%	$446K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.60	+0.043%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	744.66	+0.051%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.10	+0.110%	$12K	$437K	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	744.81	+0.071%	$1K	$7.6M	20x	as long as short
HTX META-USDT	0.0000%	8h	744.35	+0.009%	$108K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.84	+0.075%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0009%	1h	744.35	+0.009%	$478K	$559K	20x	as long as short
Lighter RH META	+0.0032%	1h	744.85	+0.077%	$798K	$3.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0032%	1h	744.04	−0.032%	$36K	$271K	10x	as long as short
QFEX META-USD	+0.0036%	1h	744.63	+0.047%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	744.35	+0.009%	$111K	$333K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.91	+0.085%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.89	+0.082%	$179K	$204K	20x	as long as short
Polymarket Perps META-USDlong	+0.0050%	1h	744.28	long leg	$566K	$618K	10x
SoDEX META-USD	+0.0050%	1h	744.68	+0.054%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.67	+0.052%	$719K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0060%	8h	744.71	+0.057%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	745.23	+0.127%	$51K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	744.00	−0.038%	$612	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.77	+0.066%	$1.6M	$798K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.32	+0.005%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.58	+0.040%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.39	+0.015%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	744.09	−0.026%	$640K	$7.9M	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	744.79	+0.069%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.78	+0.067%	$176K	$52K	30x	as long as short
Lighter METAshort	+0.0296%	1h	745.03	+0.101%	$1.2M	$2.9M	20x
tradeXYZ xyz:META	+0.0303%	1h	744.82	+0.073%	$86.2M	$134.5M	20x	as long as short
edgeX METAUSDC	+0.0510%	4h	745.00	+0.097%	$63K	$348K	10x	as long as short
Phoenix META	+0.0791%	1h	745.86	+0.212%	$796K	$1.5M	20x	as long as short