Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0215%/8h= −23.6% APRpaid last 24h —

Price spread now: Paradex against Lighter+0.004%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Paradex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	747.74	0.0280	pay 0.0035% / 1h	2m 58s	$921K	$2.5M	20x
Short	Paradex META-USD-PERP	747.77	0.0065	get 0.0065% / 8h	3h 02m	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$45.24
Price spread: +0.004% → 0.000%: $0.41
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$48.82
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 4 min ago; Paradex: 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, 4 min ago	0.80 bp	2.0 bp −$2	2.8 bp −$28	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: 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 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	747.59	−0.020%	$331K	$1.1M	20x	as long as short
Nado META-PERP	−0.0001%	1h	747.75	+0.002%	$483K	$556K	20x	as long as short
Aster METAUSDT	0.0000%	8h	747.28	−0.062%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	747.23	−0.069%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	747.42	−0.043%	$28.5M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	747.52	−0.029%	$7.6M	$14.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	747.56	−0.024%	$6.0M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	747.22	−0.070%	$431K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	747.58	−0.021%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.40	−0.045%	$12K	$448K	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	747.52	−0.029%	$775	$8.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	747.31	−0.058%	$31K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	748.17	+0.058%	$107K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	748.19	+0.060%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	747.60	−0.019%	$770K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	747.24	−0.067%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.88	+0.019%	—	$11K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	747.30	−0.059%	$588K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	747.54	−0.027%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	747.04	−0.094%	$770K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	747.76	+0.003%	$2.2M	$13.8M	10x	as long as short
Paradex META-USD-PERPshort	+0.0065%	8h	747.77	+0.004%	—	—	5x
Aftermath Perps METAUSD	+0.0084%	1h	748.45	+0.095%	$52K	$82K	10x	as long as short
Popdex METAUSDT	+0.0096%	1h	747.73	−0.001%	$180K	$200K	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	747.50	−0.032%	$1.6M	$626K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	747.07	−0.090%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	747.68	−0.008%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	747.57	−0.023%	$269	—	10x	as long as short
Bitget METAUSDT	+0.0105%	8h	747.54	−0.027%	$5.5M	$12.0M	100x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	747.51	−0.031%	$673K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.04	−0.094%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0264%	1h	747.97	+0.031%	$33K	$105	20x	as long as short
Lighter METAlong	+0.0280%	1h	747.74	long leg	$921K	$2.5M	20x
tradeXYZ xyz:META	+0.0351%	1h	747.68	−0.008%	$72.1M	$121.9M	20x	as long as short
Phoenix META	+0.0633%	1h	748.62	+0.118%	$802K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0817%	4h	747.32	−0.056%	$62K	$339K	10x	as long as short