META

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0256%/8h= +28.0% APRnext payment +$0.32 per $10,000 · paid last 24h +0.038%

Price spread now: Lighter against Popdex+0.036%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$5as in the Price arb table

costs, in and out, $10k−$110.107% of the position

Long on Popdex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.022%+$2 on $10k

Price spread, last 4 days (all we have)−0.249%−$25 · spread now +0.036%, 7d avg −0.023%

Together, before fees−0.227%+ Points / potential airdropLighter: Season 3 · farm board−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Lighter is 0.059% dearer against Popdex than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.023%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.022% in total (about 2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.32 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex METAUSDT	742.30	0.0128	pay 0.0016% / 1h	53m 13s	$179K	$200K	20x
Short	Lighter META	742.57	0.0384	get 0.0048% / 1h	53m 13s	$1.2M	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Popdex. 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 PopdexbpFee LighterbpOrdersPrice spread, now +0.036%Rate

Funding earned: $53.76
Price spread: +0.036% → −0.023%: $5.92
Slippage, 4 orders: −$4.3
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Lighter: 0 bp × 2 orders: $0
Net: $48.98
Costs to cover: 0.107%
Break-even: 0.6 days

Slippage from Popdex: live order book, 58 min ago; Lighter: live order book, 2 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 Popdex live order book, 58 min ago	0.67 bp	4.4 bp −$4	9.1 bp −$91	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	0.34 bp	0.6 bp −$1	1.7 bp −$17	doesn't fit	doesn't fit

META on 37 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	742.40	+0.013%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0035%	8h	742.53	+0.031%	$339K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.89	+0.079%	$493K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.08	−0.029%	$547K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.35	+0.006%	$25.9M	$192.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.28	−0.003%	$7.7M	$15.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.36	+0.008%	$6.1M	$13.0M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.98	−0.043%	$454K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.23	−0.009%	$5.7M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	742.47	+0.022%	$2.5M	$3.0M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	742.66	+0.048%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.29	−0.001%	$1K	$7.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.92	−0.051%	$36K	$257K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.27	−0.004%	$107K	$299K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.98	+0.092%	$2.0M	$8K	10x	as long as short
edgeX METAUSDC	+0.0013%	4h	742.28	−0.003%	$62K	$347K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.49	+0.026%	$848K	$2.8M	20x	as long as short
QFEX META-USD	+0.0038%	1h	742.27	−0.004%	$2.2M	$14.0M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.86	−0.059%	$111K	$284K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.49	+0.026%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.92	−0.051%	$559K	$612K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.24	−0.008%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.54	−0.102%	$702K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0053%	8h	741.93	−0.049%	—	—	5x	as long as short
Coinbase International META-PERP-INTX	+0.0064%	1h	742.00	−0.040%	$644K	$7.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0074%	1h	742.83	+0.072%	$53K	$86K	10x	as long as short
Pacifica META	+0.0100%	1h	741.75	−0.074%	$635	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.35	+0.007%	$1.6M	$867K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.82	−0.065%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.32	+0.003%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.10	−0.027%	$267	—	10x	as long as short
Popdex METAUSDTlong	+0.0128%	1h	742.30	long leg	$179K	$200K	20x
Nado META-PERP	+0.0134%	1h	741.77	−0.071%	$475K	$552K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.75	+0.195%	$168K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0286%	1h	742.28	−0.003%	$86.0M	$135.2M	20x	as long as short
Lighter METAshort	+0.0384%	1h	742.57	+0.036%	$1.2M	$2.6M	20x
Phoenix META	+0.0613%	1h	743.08	+0.105%	$793K	$1.5M	20x	as long as short