Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0296%/8h= −32.4% APRpaid last 24h −0.048%

Price spread now: HTX against Lighter−0.068%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$230.225% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.146%−$15 on $10k

Price spread, last 4 days (all we have)+0.170%+$17 · spread now −0.068%, 7d avg +0.001%

Together, before fees+0.023%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and HTX is 0.069% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.146% 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	Lighter META	746.17	0.0296	pay 0.0037% / 1h	8m 09s	$1.1M	$2.7M	20x
Short	HTX META-USDT	745.66	0	get 0.0000% / 8h	2h 08m	$106K	$305K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$62.16
Price spread: −0.068% → +0.001%: −$6.9
Slippage, 4 orders: −$10.55
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$91.6
Costs to cover: 0.225%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; HTX: live order book, 39 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, 4 min ago	0.74 bp	0.9 bp −$1	1.5 bp −$15	doesn't fit	doesn't fit
Sell HTX live order book, 39 min ago	2.68 bp	8.7 bp −$9	14.2 bp −$142	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	745.61	−0.075%	$330K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.53	−0.085%	$480K	$590K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.54	−0.085%	$549K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.79	−0.050%	$27.7M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.75	−0.056%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.69	−0.064%	$6.0M	$12.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.32	−0.114%	$433K	$6.0M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.85	−0.043%	$5.5M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	745.86	−0.042%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.02	−0.020%	$12K	$440K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.74	−0.058%	$772	$8.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.39	−0.105%	$31K	$263K	10x	as long as short
HTX META-USDTshort	0.0000%	8h	745.66	−0.068%	$106K	$305K	30x
Phemex METAUSDT	0.0000%	4h	745.84	−0.044%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0001%	1h	745.53	−0.086%	$482K	$557K	20x	as long as short
Lighter RH META	+0.0032%	1h	746.10	−0.009%	$775K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.03	−0.153%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.21	+0.005%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.57	−0.080%	$2.2M	$13.8M	10x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.84	−0.044%	$179K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.34	−0.111%	$586K	$562K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.68	−0.066%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.17	−0.134%	$748K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0068%	8h	745.76	−0.056%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0083%	1h	745.81	−0.049%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.60	−0.076%	$1.6M	$656K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.52	−0.087%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.85	−0.043%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.65	−0.070%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.40	−0.103%	$656K	$7.8M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.03	+0.249%	$172K	$46K	30x	as long as short
Lighter METAlong	+0.0296%	1h	746.17	long leg	$1.1M	$2.7M	20x
Hotstuff META-PERP	+0.0360%	1h	746.03	−0.019%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0450%	1h	746.36	+0.025%	$76.0M	$125.6M	20x	as long as short
Phoenix META	+0.0685%	1h	746.97	+0.107%	$798K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0903%	4h	745.78	−0.053%	$62K	$339K	10x	as long as short