META

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0102%/8h= −11.2% APRnext payment −$0.13 per $10,000 · paid last 24h −0.015%

Price spread now: Lighter against tradeXYZ+0.031%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$200.201% of the position

Long on tradeXYZ Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now +0.031%, 7d avg +0.007%

Together, before fees−0.049%+ Points / potential airdroptradeXYZ: Active · Lighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.024% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.031% now, against its 7-day average of +0.007%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 7 days (−0.043% in total) that is about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:META	742.27	0.0238	pay 0.0030% / 1h	36m 14s	$67.6M	$122.3M	20x
Short	Lighter META	742.50	0.0136	get 0.0017% / 1h	36m 14s	$859K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against tradeXYZ. 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 tradeXYZbpFee LighterbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$21.47
Price spread: +0.031% → +0.007%: $2.43
Slippage, 4 orders: −$2.11
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Lighter: 0 bp × 2 orders: $0
Net: −$39.15
Costs to cover: 0.201%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 4 min ago; Lighter: live order book, 6 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 tradeXYZ live order book, 4 min ago	0.07 bp	9.6 bp −$10	10.4 bp −$104	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.34 bp	0.7 bp −$1	1.2 bp −$12	doesn't fit	doesn't fit

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	742.75	+0.065%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0066%	1h	742.43	+0.022%	$390K	$329K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.64	+0.050%	$458K	$537K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.34	+0.010%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.47	+0.027%	$27.3M	$179.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.42	+0.020%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.39	+0.016%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.12	−0.020%	$346K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.24	−0.004%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	742.68	+0.055%	$2.3M	$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	743.64	+0.185%	$12K	$486K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.49	+0.030%	$1K	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.31	+0.005%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.29	+0.137%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	742.43	+0.022%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	742.53	+0.035%	$756K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	742.28	+0.001%	$110K	$469K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.85	+0.078%	—	$11K	25x	as long as short
Deribit META_USDC-PERPETUAL	+0.0047%	1h	742.13	−0.019%	$30K	$257K	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.53	+0.035%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.44	+0.023%	$542K	$841K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.49	+0.030%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.12	−0.020%	$762K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	742.59	+0.043%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0063%	1h	743.22	+0.128%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	743.28	+0.136%	$610K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.36	+0.012%	$1.6M	$381K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.97	+0.094%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.62	+0.047%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.45	+0.025%	$267	—	10x	as long as short
Phoenix META	+0.0129%	1h	743.01	+0.100%	$292K	$797K	20x	as long as short
Lighter METAshort	+0.0136%	1h	742.50	+0.031%	$859K	$2.6M	20x
Hotstuff META-PERP	+0.0152%	1h	742.91	+0.086%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0169%	4h	743.39	+0.150%	$62K	$331K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.83	+0.480%	$170K	$46K	30x	as long as short
tradeXYZ xyz:METAlong	+0.0238%	1h	742.27	long leg	$67.6M	$122.3M	20x