Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.009%

Price spread now: Lighter against Variational Omni+0.041%7-day average −0.013% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.037%+$4 on $10k

Price spread, last 4 days (all we have)+0.108%+$11 · spread now +0.041%, 7d avg −0.013%

Together, before fees+0.146%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.053% dearer against Variational Omni than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni META	740.63	0	get 0.0000% / 8h	1h 32m	$1.6M	$2.6M	—
Short	Lighter META	740.93	0.0064	get 0.0008% / 1h	32m 09s	$862K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.041%Rate

Funding earned: $13.44
Price spread: +0.041% → −0.013%: $5.33
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $18.77
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Lighter: live order book, 5 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 2 min ago	2.46 bp	doesn't fit	14.7 bp −$147	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.68 bp	0.9 bp −$1	2.5 bp −$25	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	740.52	−0.015%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0076%	1h	740.71	+0.011%	$395K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.36	+0.098%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.54	−0.012%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.72	+0.012%	$26.9M	$177.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.69	+0.008%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.65	+0.003%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.12	−0.069%	$329K	$5.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.70	+0.009%	$5.8M	$11.0M	100x	as long as short
Variational Omni METAlong	0.0000%	8h	740.63	long leg	$1.6M	$2.6M	—

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	740.39	−0.033%	$12K	$506K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.87	+0.032%	$865	$9.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	740.59	−0.005%	$30K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	740.39	−0.032%	$105K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.58	−0.007%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	740.61	−0.003%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.97	+0.046%	$744K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.25	−0.051%	$110K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.24	+0.082%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.69	+0.008%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.75	+0.016%	$541K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.64	+0.001%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	740.56	−0.010%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.40	−0.031%	$666K	$4.1M	10x	as long as short
Aftermath Perps METAUSD	+0.0054%	1h	740.91	+0.038%	$49K	$63K	10x	as long as short
Lighter METAshort	+0.0064%	1h	740.93	+0.041%	$862K	$2.5M	20x
Coinbase International META-PERP-INTX	+0.0064%	1h	740.57	−0.008%	$607K	$7.3M	10x	as long as short
Phoenix META	+0.0065%	1h	740.33	−0.040%	$291K	$791K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.73	+0.014%	$1.6M	$361K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.19	−0.059%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.69	+0.008%	$1K	$24	10x	as long as short
tradeXYZ xyz:META	+0.0102%	1h	740.84	+0.028%	$68.4M	$120.6M	20x	as long as short
Aevo META-PERP	+0.0104%	1h	740.62	−0.001%	$267	—	10x	as long as short
Hotstuff META-PERP	+0.0184%	1h	740.79	+0.022%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.28	−0.047%	$168K	$46K	30x	as long as short
edgeX METAUSDC	+0.0897%	4h	740.56	−0.009%	$62K	$331K	10x	as long as short