Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0352%/8h= −38.5% APRpaid last 24h −0.053%

Price spread now: BloFin against Lighter−0.054%60s7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$170.165% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.327%−$33 on $10k

Price spread, last 4 days (all we have)+0.231%+$23 · spread now −0.054%, 7d avg +0.033%

Together, before fees−0.096%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and BloFin is 0.087% cheaper against Lighter than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.033%). Swap the legs. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	746.40	0.0232	pay 0.0029% / 1h	42m 03s	$865K	$2.4M	20x
Short	BloFin META-USDT	746.00	−0.0120	pay 0.0120% / 8h	3h 42m	$329K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$73.92
Price spread: −0.054% → +0.033%: −$8.68
Slippage, 4 orders: −$4.5
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$99.1
Costs to cover: 0.165%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; BloFin: 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 Lighter live order book, 5 min ago	0.67 bp	0.8 bp −$1	1.6 bp −$16	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.13 bp	7.0 bp −$7	9.9 bp −$99	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-USDTshort	−0.0120%	8h	746.00	−0.054%	$329K	$1.1M	20x
Nado META-PERP	−0.0023%	1h	745.80	−0.081%	$482K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.92	−0.064%	$470K	$554K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.06	−0.046%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.27	−0.017%	$28.5M	$183.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.32	−0.011%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.19	−0.028%	$6.0M	$13.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.60	−0.107%	$365K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.26	−0.019%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.99	−0.188%	$2.4M	$3.2M	—	as long as short

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	745.25	−0.154%	$12K	$451K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.87	−0.071%	$712	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.70	−0.094%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.06	−0.046%	$106K	$301K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.85	−0.074%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	746.44	+0.005%	$783K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.03	−0.184%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.40	0.000%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.19	−0.028%	$180K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.85	−0.074%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.18	−0.029%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.35	−0.141%	$801K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	746.03	−0.050%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.69	−0.095%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0093%	8h	746.10	−0.040%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.03	−0.050%	$1.6M	$605K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.39	−0.269%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.33	−0.009%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.16	−0.033%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.20	−0.161%	$619K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.17	+0.103%	$172K	$48K	30x	as long as short
Lighter METAlong	+0.0232%	1h	746.40	long leg	$865K	$2.4M	20x
Hotstuff META-PERP	+0.0240%	1h	746.20	−0.027%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0336%	1h	746.38	−0.003%	$70.3M	$121.1M	20x	as long as short
Phoenix META	+0.0633%	1h	746.12	−0.038%	$773K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0979%	4h	744.81	−0.213%	$62K	$339K	10x	as long as short