META

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0024%/8h= −2.6% APRnext payment −$0.03 per $10,000 · paid last 24h +0.031%

Price spread now: Lighter against Coinbase International+0.055%7-day average +0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$160.156% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.198%+$20 on $10k

Price spread, last 3 days (all we have)−0.080%−$8 · spread now +0.055%, 7d avg +0.085%

Together, before fees+0.119%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.030% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.085%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.198%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International META-PERP-INTX	740.19	0.0104	pay 0.0013% / 1h	58m 13s	$610K	$7.4M	10x
Short	Lighter META	740.60	0.0080	get 0.0010% / 1h	58m 13s	$857K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now +0.055%Rate

Funding earned: −$5.04
Price spread: +0.055% → +0.085%: −$2.99
Slippage, 4 orders: −$5.56
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$23.6
Costs to cover: 0.156%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Lighter: live order book, 4 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 Coinbase International live order book, 1 min ago	1.62 bp	7.0 bp −$7	10.8 bp −$108	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.74 bp	0.7 bp −$1	1.3 bp −$13	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
Nado META-PERP	−0.0204%	1h	740.38	+0.026%	$490K	$527K	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0155%	1h	740.00	−0.026%	$30K	$246K	10x	as long as short
BloFin META-USDT	−0.0120%	8h	740.34	+0.020%	$326K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.39	+0.027%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.23	+0.005%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.42	+0.031%	$27.4M	$179.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.57	+0.051%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.11	−0.011%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.20	+0.001%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.41	+0.030%	$5.6M	$11.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.22	+0.003%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.46	+0.036%	$12K	$452K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.43	+0.032%	$801	$9.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.21	+0.003%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.56	+0.050%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.18	−0.001%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.68	+0.066%	$753K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.01	−0.024%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.83	+0.086%	—	$11K	25x	as long as short
Hotstuff META-PERP	+0.0048%	1h	740.59	+0.054%	$33K	$105	20x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.41	+0.030%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.18	−0.001%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.39	+0.027%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.86	−0.045%	$693K	$4.4M	10x	as long as short
Paradex META-USD-PERP	+0.0059%	8h	740.39	+0.027%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0067%	1h	741.00	+0.110%	$48K	$80K	10x	as long as short
Lighter METAshort	+0.0080%	1h	740.60	+0.055%	$857K	$2.4M	20x
KuCoin METAUSDTM	+0.0100%	8h	740.63	+0.059%	$1.6M	$456K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.26	+0.009%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.47	+0.038%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.22	+0.004%	$266	—	10x	as long as short
Coinbase International META-PERP-INTXlong	+0.0104%	1h	740.19	long leg	$610K	$7.4M	10x
tradeXYZ xyz:META	+0.0160%	1h	740.58	+0.053%	$68.0M	$121.2M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.82	+0.355%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	741.06	+0.118%	$343K	$920K	20x	as long as short
edgeX METAUSDC	+0.0352%	4h	740.50	+0.042%	$62K	$336K	10x	as long as short