META

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0260%/8h= −28.5% APRnext payment −$0.32 per $10,000 · paid last 24h −0.027%

Price spread now: ApeX Omni against Lighter−0.133%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on Lighter Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.133%, 7d avg −0.034%

Together, before fees+0.116%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and ApeX Omni is 0.099% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.034%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.042% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.32 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	739.23	0.0360	pay 0.0045% / 1h	53m 29s	$1.2M	$2.6M	20x
Short	ApeX Omni METAUSDT	738.25	0.0100	get 0.0013% / 1h	53m 29s	$165K	$71K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Lighter. 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 LighterbpFee ApeX OmnibpOrdersPrice spread, now −0.133%Rate

Funding earned: −$54.6
Price spread: −0.133% → −0.034%: −$9.88
Slippage, 4 orders: −$25.22
Fee Lighter: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$99.7
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; ApeX Omni: live order book, 51 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 Lighter live order book, 7 min ago	0.07 bp	0.3 bp $0	1.7 bp −$17	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 51 min ago	2.63 bp	16.1 bp −$16	568.3 bp −$5,683	doesn't fit	doesn't fit

META on 37 exchanges

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
Hotstuff META-PERP	−0.1600%	1h	739.12	−0.015%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	739.33	+0.014%	$337K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	739.71	+0.064%	$492K	$629K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	738.78	−0.061%	$547K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.11	−0.016%	$25.2M	$191.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	738.71	−0.070%	$7.5M	$16.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.00	−0.031%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	738.66	−0.077%	$493K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.02	−0.028%	$5.9M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	739.44	+0.029%	$2.6M	$3.2M	—	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	739.32	+0.012%	$12K	$422K	10x	as long as short
SunX META-USDT	0.0000%	8h	739.50	+0.037%	$796	$6.8M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.04	−0.026%	$108K	$309K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	739.62	+0.053%	$2.0M	$9K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0021%	1h	738.64	−0.080%	$36K	$209K	10x	as long as short
Lighter RH META	+0.0032%	1h	739.15	−0.011%	$856K	$2.8M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	739.18	−0.007%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.07	−0.022%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	738.66	−0.077%	$557K	$590K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.14	−0.012%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	738.72	−0.069%	$754K	$5.1M	10x	as long as short
QFEX META-USD	+0.0056%	1h	739.00	−0.031%	$2.2M	$14.0M	10x	as long as short
Paradex META-USD-PERP	+0.0068%	8h	738.66	−0.077%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	739.65	+0.057%	$53K	$86K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0088%	1h	739.08	−0.020%	$642K	$7.3M	10x	as long as short
Pacifica META	+0.0100%	1h	738.53	−0.095%	$611	$3K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	739.13	−0.014%	$1.6M	$933K	20x	as long as short
ApeX Omni METAUSDTshort	+0.0100%	1h	738.25	−0.133%	$165K	$71K	50x
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.01	−0.030%	$1K	$338	10x	as long as short
Aevo META-PERP	+0.0104%	1h	738.83	−0.055%	$266	—	10x	as long as short
Nado META-PERP	+0.0112%	1h	738.48	−0.101%	$474K	$536K	20x	as long as short
edgeX METAUSDC	+0.0122%	4h	739.43	+0.027%	$62K	$349K	10x	as long as short
Arcus META-USD	+0.0209%	1h	738.60	−0.085%	$110K	$291K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.69	+0.198%	$167K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0300%	1h	739.00	−0.031%	$86.9M	$136.1M	20x	as long as short
Lighter METAlong	+0.0360%	1h	739.23	long leg	$1.2M	$2.6M	20x
Phoenix META	+0.0626%	1h	740.45	+0.165%	$791K	$1.6M	20x	as long as short