Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0248%/8h= −27.2% APRpaid last 24h −0.037%

Price spread now: SunX against Lighter−0.067%7-day average +0.041% · you buy dearer than you sell

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

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 3 days (all we have)+0.205%+$21 · spread now −0.067%, 7d avg +0.041%

Together, before fees+0.074%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and SunX is 0.109% cheaper against Lighter than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.041%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.131% in total (about -6.8% 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	741.98	0.0248	pay 0.0031% / 1h	13m 03s	$860K	$2.6M	20x
Short	SunX META-USDT	741.48	0	get 0.0000% / 8h	13m 03s	$744	$9.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.067%Rate

Funding earned: −$52.08
Price spread: −0.067% → +0.041%: −$10.85
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$70.93
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 4 min ago; SunX: live order book, 6 min ago. 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	0.47 bp	0.5 bp $0	2.1 bp −$21	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	500.05 bp	doesn't fit	doesn't fit	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	741.71	−0.036%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0001%	1h	741.06	−0.124%	$385K	$332K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.89	−0.012%	$457K	$540K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.56	−0.056%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.84	−0.019%	$27.4M	$180.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.58	−0.054%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.60	−0.051%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.19	−0.106%	$344K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.69	−0.039%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.89	−0.012%	$2.3M	$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	741.81	−0.024%	$12K	$482K	10x	as long as short
SunX META-USDTshort	0.0000%	8h	741.48	−0.067%	$744	$9.5M	20x
HTX META-USDT	0.0000%	8h	741.49	−0.066%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.94	−0.005%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	741.59	−0.053%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.90	−0.011%	$756K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.22	−0.102%	$110K	$454K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.60	−0.051%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.59	−0.053%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.53	−0.061%	$550K	$849K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.57	−0.055%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.07	−0.123%	$759K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	741.35	−0.084%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	742.32	+0.045%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.24	−0.100%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.64	−0.046%	$1.6M	$399K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.93	−0.142%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.52	−0.062%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.53	−0.060%	$267	—	10x	as long as short
Phoenix META	+0.0129%	1h	741.77	−0.028%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0168%	1h	741.55	−0.058%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.58	+0.216%	$169K	$46K	30x	as long as short
Lighter METAlong	+0.0248%	1h	741.98	long leg	$860K	$2.6M	20x
tradeXYZ xyz:META	+0.0264%	1h	741.67	−0.042%	$67.7M	$122.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0465%	1h	741.55	−0.058%	$30K	$258K	10x	as long as short
edgeX METAUSDC	+0.0727%	4h	741.69	−0.039%	$62K	$334K	10x	as long as short