Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Aster against Lighter RH−0.080%7-day average +0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$970.971% of the position

Long on Lighter RH Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 4 days (all we have)+0.132%+$13 · spread now −0.080%, 7d avg +0.057%

Together, before fees+0.056%+ Points / potential airdropLighter RH: Points live · Aster: Stage 5 · farm board+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.137% cheaper against Lighter RH than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of +0.057%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	745.51	0.0032	pay 0.0004% / 1h	57m 27s	$809K	$2.8M	20x
Short	Aster METAUSDT	744.92	0	get 0.0000% / 8h	6h 57m	$490K	$623K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter RH. 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 Lighter RHbpFee AsterbpOrdersPrice spread, now −0.080%Rate

Funding earned: −$6.72
Price spread: −0.080% → +0.057%: −$13.7
Slippage, 4 orders: −$89.15
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$117.57
Costs to cover: 0.971%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 6 min ago; Aster: live order book, 35 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 RH live order book, 6 min ago	0.47 bp	1.2 bp −$1	4.9 bp −$49	40.0 bp −$4,004	doesn't fit
Sell Aster live order book, 35 min ago	13.36 bp	31.8 bp −$32	67.2 bp −$672	doesn't fit	doesn't fit

META on 37 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	745.69	+0.024%	$334K	$1.1M	20x	as long as short
Aster METAUSDTshort	0.0000%	8h	744.92	−0.080%	$490K	$623K	20x
Extended META_24_5-USD	0.0000%	1h	745.10	−0.056%	$546K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.31	−0.026%	$25.9M	$191.8M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.76	+0.034%	$7.7M	$15.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.47	−0.005%	$6.1M	$12.9M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.98	−0.071%	$447K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.35	−0.021%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	744.66	−0.114%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.78	−0.097%	$12K	$438K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.24	−0.036%	$719	$7.6M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.94	−0.076%	$36K	$269K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.46	−0.007%	$108K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.29	−0.030%	$2.0M	$8K	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	745.51	long leg	$809K	$2.8M	20x
Arcus META-USD	+0.0040%	1h	744.97	−0.072%	$111K	$324K	10x	as long as short
QFEX META-USD	+0.0041%	1h	745.40	−0.015%	$2.2M	$14.1M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.80	+0.039%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.48	−0.004%	$179K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.48	−0.004%	$567K	$609K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.31	−0.027%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.75	−0.102%	$719K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	745.22	−0.038%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0077%	1h	745.87	+0.049%	$51K	$91K	10x	as long as short
Nado META-PERP	+0.0085%	1h	744.95	−0.076%	$479K	$559K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	744.97	−0.072%	$642K	$7.8M	10x	as long as short
Pacifica META	+0.0100%	1h	744.89	−0.083%	$608	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.24	−0.036%	$1.6M	$800K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.70	−0.243%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.38	−0.017%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.13	−0.052%	$268	—	10x	as long as short
Hotstuff META-PERP	+0.0216%	1h	745.61	+0.013%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.33	+0.110%	$176K	$52K	30x	as long as short
Lighter META	+0.0288%	1h	745.67	+0.021%	$1.2M	$2.6M	20x	as long as short
tradeXYZ xyz:META	+0.0316%	1h	745.50	−0.001%	$86.4M	$134.7M	20x	as long as short
edgeX METAUSDC	+0.0330%	4h	745.61	+0.014%	$63K	$346K	10x	as long as short
Phoenix META	+0.0791%	1h	745.86	+0.047%	$796K	$1.5M	20x	as long as short