Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.012%

Price spread now: KuCoin against Lighter RH+0.001%7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$123as in the Price arb table

costs, in and out, $10k−$1271.271% of the position

Long on Lighter RH Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.133%+$13 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now +0.001%, 7d avg −0.040%

Together, before fees+0.172%+ Points / potential airdropLighter RH: Points live · farm board+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and KuCoin is 0.042% dearer against Lighter RH than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	740.70	0.0032	pay 0.0004% / 1h	0m 11s	$753K	$3.2M	20x
Short	KuCoin METAUSDTM	740.71	0.0100	get 0.0100% / 8h	7h 00m	$1.6M	$456K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.001%Rate

Funding earned: $14.28
Price spread: +0.001% → −0.040%: $4.18
Slippage, 4 orders: −$115.08
Fee Lighter RH: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$108.62
Costs to cover: 1.271%
Break-even: 60.2 days

Slippage from Lighter RH: live order book, 3 min ago; KuCoin: live order book, 6 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, 3 min ago	2.43 bp	3.3 bp −$3	7.0 bp −$70	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	7.56 bp	56.6 bp −$57	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	740.39	−0.042%	$326K	$1.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0115%	1h	740.03	−0.090%	$30K	$246K	10x	as long as short
Nado META-PERP	−0.0104%	1h	740.35	−0.047%	$491K	$525K	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.42	−0.038%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.27	−0.058%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.46	−0.032%	$27.4M	$179.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.68	−0.003%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.25	−0.061%	$6.0M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.35	−0.047%	$351K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.46	−0.032%	$5.6M	$11.3M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	740.22	−0.065%	$2.4M	$3.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	740.87	+0.023%	$13K	$453K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.58	−0.016%	$821	$9.3M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.34	−0.049%	$105K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.52	−0.024%	$2.0M	$8K	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	740.70	long leg	$753K	$3.2M	20x
Vest META-USD-PERP	+0.0046%	1h	740.87	+0.023%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	740.41	−0.039%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	740.28	−0.057%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.48	−0.030%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.97	−0.099%	$693K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.20	−0.068%	$2.2M	$14.1M	10x	as long as short
Paradex META-USD-PERP	+0.0059%	8h	740.33	−0.050%	—	—	5x	as long as short
Arcus META-USD	+0.0063%	1h	740.06	−0.086%	$110K	$331K	10x	as long as short
Hotstuff META-PERP	+0.0064%	1h	740.46	−0.032%	$33K	$105	20x	as long as short
Aftermath Perps METAUSD	+0.0067%	1h	740.98	+0.038%	$48K	$80K	10x	as long as short
KuCoin METAUSDTMshort	+0.0100%	8h	740.71	+0.001%	$1.6M	$456K	20x
ApeX Omni METAUSDT	+0.0100%	1h	740.26	−0.059%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.49	−0.028%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.32	−0.051%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	740.19	−0.069%	$610K	$7.4M	10x	as long as short
tradeXYZ xyz:META	+0.0164%	1h	740.65	−0.007%	$67.9M	$121.1M	20x	as long as short
Lighter META	+0.0184%	1h	740.67	−0.004%	$857K	$2.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.82	+0.286%	$171K	$48K	30x	as long as short
Phoenix META	+0.0259%	1h	741.55	+0.115%	$339K	$930K	20x	as long as short
edgeX METAUSDC	+0.0352%	4h	740.50	−0.027%	$62K	$336K	10x	as long as short