META

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0294%/8h= −32.1% APRnext payment −$0.37 per $10,000 · paid last 24h −0.042%

Price spread now: Ondo Perps against Lighter−0.131%7-day average −0.055% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.044%−$4 on $10k

Price spread, last 7 days+0.205%+$20 · spread now −0.131%, 7d avg −0.055%

Together, before fees+0.161%+ Points / potential airdropLighter: Season 3 · Ondo Perps: Active · farm board+$16 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 Ondo Perps is 0.076% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.055%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.044% in total (about -2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.37 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	739.68	0.0344	pay 0.0043% / 1h	55m 32s	$1.2M	$2.6M	20x
Short	Ondo Perps META-USD.P	738.71	0.0050	get 0.0006% / 1h	55m 32s	$754K	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.131%Rate

Funding earned: −$61.66
Price spread: −0.131% → −0.055%: −$7.59
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$74.25
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 5 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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	0.07 bp	0.3 bp $0	1.7 bp −$17	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	740.15	+0.064%	$33K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	740.01	+0.045%	$337K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.05	+0.050%	$492K	$629K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.38	−0.041%	$547K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.56	−0.016%	$25.2M	$191.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.40	−0.038%	$7.5M	$16.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.42	−0.035%	$6.0M	$13.1M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.14	−0.073%	$470K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.64	−0.005%	$5.9M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	739.44	−0.032%	$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	739.66	−0.003%	$12K	$423K	10x	as long as short
SunX META-USDT	0.0000%	8h	739.84	+0.022%	$653	$6.8M	20x	as long as short
HTX META-USDT	0.0000%	8h	739.46	−0.030%	$108K	$310K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	739.83	+0.020%	$2.0M	$9K	10x	as long as short
Deribit META_USDC-PERPETUAL	+0.0007%	1h	738.95	−0.099%	$36K	$209K	10x	as long as short
Lighter RH META	+0.0032%	1h	739.63	−0.007%	$855K	$2.8M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	739.57	−0.015%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.53	−0.020%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.19	−0.066%	$557K	$590K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.53	−0.020%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.Pshort	+0.0050%	1h	738.71	−0.131%	$754K	$5.1M	10x
QFEX META-USD	+0.0056%	1h	739.32	−0.049%	$2.2M	$14.0M	10x	as long as short
Paradex META-USD-PERP	+0.0069%	8h	739.16	−0.070%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0079%	1h	740.03	+0.048%	$53K	$86K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0088%	1h	739.08	−0.081%	$642K	$7.3M	10x	as long as short
Nado META-PERP	+0.0097%	1h	739.00	−0.091%	$474K	$536K	20x	as long as short
Pacifica META	+0.0100%	1h	738.93	−0.101%	$612	$3K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	739.55	−0.018%	$1.6M	$932K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.00	−0.092%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.49	−0.026%	$1K	$338	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.36	−0.043%	$266	—	10x	as long as short
Arcus META-USD	+0.0209%	1h	739.20	−0.065%	$111K	$291K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.41	+0.234%	$167K	$61K	30x	as long as short
tradeXYZ xyz:META	+0.0262%	1h	739.39	−0.039%	$86.9M	$136.2M	20x	as long as short
Lighter METAlong	+0.0344%	1h	739.68	long leg	$1.2M	$2.6M	20x
Phoenix META	+0.0613%	1h	740.77	+0.147%	$791K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0808%	4h	739.92	+0.033%	$63K	$349K	10x	as long as short