META

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0103%/8h= +11.2% APRnext payment +$0.13 per $10,000 · paid last 24h +0.011%

Price spread now: tradeXYZ against Lighter−0.030%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on Lighter Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.030%, 7d avg −0.007%

Together, before fees+0.049%+ Points / potential airdropLighter: Season 3 · tradeXYZ: Active · farm board+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.022% cheaper against Lighter than usual: you would sell low and buy high (spread −0.030% now, against its 7-day average of −0.007%). If the spread goes back, that is −$2 on $10k: about 17 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.042% in total) that is about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	740.49	0.0136	pay 0.0017% / 1h	12m 50s	$860K	$2.4M	20x
Short	tradeXYZ xyz:META	740.27	0.0239	get 0.0030% / 1h	12m 50s	$68.3M	$120.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.030%Rate

Funding earned: $21.57
Price spread: −0.030% → −0.007%: −$2.22
Slippage, 4 orders: −$2.61
Fee Lighter: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$1.26
Costs to cover: 0.206%
Break-even: 7.4 days

Slippage from Lighter: live order book, 4 min ago; tradeXYZ: live order book, 7 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	0.47 bp	0.6 bp −$1	2.2 bp −$22	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 7 min ago	0.41 bp	9.7 bp −$10	10.4 bp −$104	doesn't fit	doesn't fit

META on 35 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
Deribit META_USDC-PERPETUAL	−0.0128%	1h	739.79	−0.095%	$31K	$244K	10x	as long as short
Nado META-PERP	−0.0120%	1h	740.05	−0.060%	$478K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.91	+0.056%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.15	−0.046%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.34	−0.020%	$27.3M	$179.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.20	−0.039%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.13	−0.049%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.97	−0.070%	$352K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.28	−0.028%	$5.5M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	740.06	−0.058%	$2.3M	$3.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	740.19	−0.041%	$12K	$434K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.13	−0.049%	$879	$9.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.05	−0.059%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.23	−0.035%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	740.22	−0.036%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.54	+0.007%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.73	−0.103%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.54	+0.007%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.22	−0.036%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.20	−0.039%	$558K	$547K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.19	−0.041%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.36	−0.153%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	740.12	−0.050%	—	—	5x	as long as short
edgeX METAUSDC	+0.0066%	4h	739.99	−0.068%	$62K	$337K	10x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	740.82	+0.044%	$49K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.44	−0.007%	$1.6M	$487K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.61	−0.119%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.26	−0.031%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.10	−0.053%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	740.66	+0.023%	$609K	$7.2M	10x	as long as short
Lighter METAlong	+0.0136%	1h	740.49	long leg	$860K	$2.4M	20x
Hotstuff META-PERP	+0.0160%	1h	740.27	−0.030%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.90	−0.080%	$171K	$48K	30x	as long as short
tradeXYZ xyz:METAshort	+0.0239%	1h	740.27	−0.030%	$68.3M	$120.0M	20x
Phoenix META	+0.0313%	1h	740.88	+0.053%	$442K	$1.1M	20x	as long as short