META

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.005%

Price spread now: Deribit against Lighter RH−0.099%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$190.193% of the position

Long on Lighter RH Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.035%−$3 on $10k

Price spread, last 4 days (all we have)+0.214%+$21 · spread now −0.099%, 7d avg −0.067%

Together, before fees+0.179%+ Points / potential airdropLighter RH: Points live · farm board+$18 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 Deribit is 0.032% cheaper against Lighter RH than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.067%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	746.44	0.0032	pay 0.0004% / 1h	42m 09s	$783K	$2.9M	20x
Short	Deribit META_USDC-PERPETUAL	745.70	0	get 0.0000% / 1h	42m 09s	$31K	$246K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$6.72
Price spread: −0.099% → −0.067%: −$3.18
Slippage, 4 orders: −$12.26
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$29.16
Costs to cover: 0.193%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 1 min ago; Deribit: live order book, 11 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, 1 min ago	2.61 bp	3.5 bp −$3	6.3 bp −$63	doesn't fit	doesn't fit
Sell Deribit live order book, 11 min ago	0.07 bp	3.6 bp −$4	5.7 bp −$57	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	746.00	−0.059%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0023%	1h	745.80	−0.086%	$482K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.92	−0.070%	$470K	$554K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.06	−0.051%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.27	−0.023%	$28.5M	$183.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.32	−0.016%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.19	−0.033%	$6.0M	$13.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.60	−0.113%	$365K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.26	−0.024%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.99	−0.194%	$2.4M	$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	745.25	−0.159%	$12K	$451K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.87	−0.076%	$712	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUALshort	0.0000%	1h	745.70	−0.099%	$31K	$246K	10x
HTX META-USDT	0.0000%	8h	746.06	−0.051%	$106K	$301K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.85	−0.079%	$2.0M	$8K	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	746.44	long leg	$783K	$2.9M	20x
Arcus META-USD	+0.0040%	1h	745.03	−0.189%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	746.40	−0.005%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	746.19	−0.033%	$180K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.85	−0.079%	$587K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.18	−0.035%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	745.35	−0.146%	$801K	$4.6M	10x	as long as short
QFEX META-USD	+0.0058%	1h	746.03	−0.055%	$2.2M	$13.7M	10x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	745.69	−0.100%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0093%	8h	746.10	−0.046%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.03	−0.055%	$1.6M	$605K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.39	−0.275%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.33	−0.015%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.16	−0.038%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	745.20	−0.166%	$619K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.17	+0.098%	$172K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	746.40	−0.005%	$865K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0240%	1h	746.20	−0.032%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0336%	1h	746.38	−0.008%	$70.3M	$121.1M	20x	as long as short
Phoenix META	+0.0633%	1h	746.12	−0.043%	$773K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0979%	4h	744.81	−0.218%	$62K	$339K	10x	as long as short