Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0360%/8h= +39.4% APRpaid last 24h +0.047%

Price spread now: Lighter against Gate+0.052%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.145%+$15 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.052%, 7d avg +0.022%

Together, before fees+0.126%+ Points / potential airdropLighter: Season 3 · farm board+$13 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 0.030% dearer against Gate than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.022%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.145% in total (about 7.6% 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	Gate META_USDT	744.91	0	get 0.0000% / 8h	2h 46m	$430K	$5.9M	100x
Short	Lighter META	745.30	0.0360	get 0.0045% / 1h	46m 46s	$983K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.052%Rate

Funding earned: $75.6
Price spread: +0.052% → +0.022%: $3
Slippage, 4 orders: −$13.36
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: $50.24
Costs to cover: 0.284%
Break-even: 2.3 days

Slippage from Gate: live order book, 1 min ago; Lighter: live order book, 5 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 Gate live order book, 1 min ago	2.48 bp	15.7 bp −$16	35.9 bp −$359	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.74 bp	0.9 bp −$1	2.1 bp −$21	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	745.63	+0.097%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.29	+0.185%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.26	+0.047%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.46	+0.074%	$28.3M	$181.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.40	+0.066%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.29	+0.051%	$6.0M	$12.6M	20x	as long as short
Gate META_USDTlong	0.0000%	8h	744.91	long leg	$430K	$5.9M	100x
Variational Omni META	0.0000%	8h	745.99	+0.145%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.12	+0.162%	$12K	$448K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.56	+0.087%	$795	$8.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.46	−0.060%	$31K	$256K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.64	+0.098%	$106K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.13	+0.164%	$2.0M	$8K	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.27	+0.048%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.55	+0.086%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.33	+0.056%	$2.2M	$13.7M	10x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.94	+0.004%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.40	+0.066%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.66	−0.034%	$759K	$4.5M	10x	as long as short
Nado META-PERP	+0.0052%	1h	745.00	+0.012%	$482K	$556K	20x	as long as short
Lighter RH META	+0.0056%	1h	745.25	+0.046%	$768K	$2.9M	20x	as long as short
Bitget METAUSDT	+0.0060%	8h	745.57	+0.089%	$5.4M	$11.9M	100x	as long as short
Paradex META-USD-PERP	+0.0075%	8h	745.27	+0.048%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.05	+0.153%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.40	+0.066%	$1.6M	$633K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.03	+0.016%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.36	+0.060%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.24	+0.044%	$268	—	10x	as long as short
Popdex METAUSDT	+0.0120%	1h	745.45	+0.072%	$179K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	+0.201%	$671K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.43	+0.473%	$173K	$46K	30x	as long as short
edgeX METAUSDC	+0.0232%	4h	745.42	+0.069%	$62K	$340K	10x	as long as short
Lighter METAshort	+0.0360%	1h	745.30	+0.052%	$983K	$2.5M	20x
Hotstuff META-PERP	+0.0456%	1h	745.68	+0.103%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0525%	1h	745.51	+0.081%	$72.4M	$122.8M	20x	as long as short
Phoenix META	+0.0685%	1h	746.70	+0.240%	$797K	$1.4M	20x	as long as short