Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0360%/8h= +39.4% APRpaid last 24h +0.049%

Price spread now: Lighter against Aster+0.022%7-day average −0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$680.682% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.150%+$15 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now +0.022%, 7d avg −0.086%

Together, before fees+0.089%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$9 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 0.108% dearer against Aster than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.086%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.150% in total (about 7.8% a year). A funding rate is set anew for every payment. 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	Aster METAUSDT	745.29	0	get 0.0000% / 8h	1h 15m	$479K	$593K	20x
Short	Lighter META	745.45	0.0360	get 0.0045% / 1h	15m 57s	$1.1M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.022%Rate

Funding earned: $75.6
Price spread: +0.022% → −0.086%: $10.8
Slippage, 4 orders: −$60.23
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $18.17
Costs to cover: 0.682%
Break-even: 5.3 days

Slippage from Aster: live order book, 27 min ago; Lighter: live order book, 11 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 Aster live order book, 27 min ago	13.27 bp	47.6 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 11 min ago	0.40 bp	1.0 bp −$1	2.7 bp −$27	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	744.83	−0.061%	$332K	$1.1M	20x	as long as short
Nado META-PERP	−0.0041%	1h	744.71	−0.078%	$480K	$559K	20x	as long as short
Aster METAUSDTlong	0.0000%	8h	745.29	long leg	$479K	$593K	20x
Extended META_24_5-USD	0.0000%	1h	744.71	−0.078%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.89	−0.053%	$24.9M	$188.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.82	−0.063%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.05	−0.032%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.48	−0.108%	$462K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.98	−0.041%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.80	−0.065%	$2.4M	$3.3M	—	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	744.86	−0.058%	$13K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.73	−0.075%	$763	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.45	−0.112%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.70	−0.079%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.93	−0.048%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.76	−0.071%	$2.2M	$13.8M	10x	as long as short
Lighter RH META	+0.0032%	1h	745.34	+0.007%	$855K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.64	−0.087%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.55	+0.035%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.83	−0.061%	$177K	$203K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.60	−0.092%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.86	−0.057%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.35	−0.126%	$685K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	744.89	−0.053%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.76	+0.063%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.86	−0.057%	$1.6M	$689K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.29	−0.134%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.83	−0.061%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.75	−0.072%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.73	−0.075%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.34	+0.276%	$172K	$46K	30x	as long as short
Lighter METAshort	+0.0360%	1h	745.45	+0.022%	$1.1M	$2.7M	20x
Hotstuff META-PERP	+0.0376%	1h	745.55	+0.035%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0488%	1h	745.44	+0.021%	$78.0M	$127.7M	20x	as long as short
edgeX METAUSDC	+0.0678%	4h	744.71	−0.077%	$62K	$344K	10x	as long as short
Phoenix META	+0.0739%	1h	746.42	+0.152%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	745.09	−0.026%	$16	$103	10x	as long as short