META

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0353%/8h= +38.7% APRnext payment +$0.44 per $10,000 · paid last 24h +0.037%

Price spread now: Lighter against QFEX+0.099%7-day average 0.000% · 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−$8as in the Price arb table

costs, in and out, $10k−$180.177% of the position

Long on QFEX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.069%+$7 on $10k

Price spread, last 7 days−0.087%−$9 · spread now +0.099%, 7d avg 0.000%

Together, before fees−0.018%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Lighter is 0.099% dearer against QFEX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of 0.000%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.069% in total (about 6.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.44 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	QFEX META-USD	745.37	0.0031	pay 0.0004% / 1h	3m 37s	$2.2M	$13.8M	10x
Short	Lighter META	746.11	0.0384	get 0.0048% / 1h	3m 37s	$1.1M	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against QFEX. 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 QFEXbpFee LighterbpOrdersPrice spread, now +0.099%Rate

Funding earned: $74.16
Price spread: +0.099% → 0.000%: $9.91
Slippage, 4 orders: −$7.69
Fee QFEX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $66.38
Costs to cover: 0.177%
Break-even: 0.7 days

Slippage from QFEX: live order book, 6 min ago; Lighter: live order book, 3 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 QFEX live order book, 6 min ago	2.89 bp	7.9 bp −$8	8.7 bp −$87	18.8 bp −$1,884	doesn't fit
Sell Lighter live order book, 3 min ago	0.74 bp	0.9 bp −$1	2.3 bp −$23	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	745.62	+0.034%	$332K	$1.1M	20x	as long as short
Nado META-PERP	−0.0030%	1h	745.16	−0.028%	$481K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.56	+0.026%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.42	+0.007%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.62	+0.033%	$24.9M	$187.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.48	+0.015%	$7.4M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.72	+0.047%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.11	−0.035%	$464K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.53	+0.021%	$5.6M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	745.37	+0.001%	$2.4M	$3.1M	—	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	745.64	+0.036%	$12K	$436K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.39	+0.003%	$716	$8.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	745.40	+0.004%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.82	+0.060%	$2.0M	$8K	10x	as long as short
QFEX META-USDlong	+0.0031%	1h	745.37	long leg	$2.2M	$13.8M	10x
Lighter RH META	+0.0032%	1h	745.89	+0.070%	$791K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.16	−0.028%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.86	+0.066%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.57	+0.027%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.17	−0.027%	$579K	$572K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.49	+0.016%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.05	−0.043%	$696K	$5.1M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	745.41	+0.006%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	746.02	+0.087%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.32	−0.007%	$1.6M	$699K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.02	−0.047%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.45	+0.011%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.28	−0.012%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.25	−0.016%	$649K	$7.9M	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0112%	1h	745.23	−0.019%	$34K	$274K	10x	as long as short
edgeX METAUSDC	+0.0116%	4h	745.51	+0.018%	$62K	$344K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.19	+0.244%	$172K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0376%	1h	745.90	+0.071%	$33K	$105	20x	as long as short
Lighter METAshort	+0.0384%	1h	746.11	+0.099%	$1.1M	$2.8M	20x
tradeXYZ xyz:META	+0.0494%	1h	745.90	+0.071%	$78.5M	$128.2M	20x	as long as short
Phoenix META	+0.0739%	1h	746.07	+0.094%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	745.36	−0.001%	$13	$106	10x	as long as short