Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.008%

Price spread now: OKX against Lighter RH−0.035%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

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

costs, in and out, $10k−$180.181% of the position

Long on Lighter RH Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days−0.014%−$1 · spread now −0.035%, 7d avg +0.015%

Together, before fees−0.084%+ Points / potential airdropLighter RH: Points live · farm board−$8 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 OKX is 0.050% cheaper against Lighter RH than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.015%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	743.84	0.0032	pay 0.0004% / 1h	8m 34s	$778K	$3.1M	20x
Short	OKX META-USDT-SWAP	743.58	0	get 0.0000% / 8h	4h 08m	$6.0M	$13.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$6.72
Price spread: −0.035% → +0.015%: −$5.04
Slippage, 4 orders: −$8.06
Fee Lighter RH: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$29.82
Costs to cover: 0.181%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 5 min ago; OKX: live order book, 5 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, 5 min ago	0.61 bp	1.8 bp −$2	7.0 bp −$70	50.4 bp −$5,042	doesn't fit
Sell OKX live order book, 5 min ago	0.47 bp	7.2 bp −$7	16.3 bp −$163	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	743.94	+0.013%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0004%	1h	743.32	−0.070%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.11	−0.099%	$468K	$553K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.62	−0.029%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.83	−0.001%	$28.4M	$182.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.02	+0.024%	$7.7M	$14.1M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	743.58	−0.035%	$6.0M	$13.5M	20x
Gate META_USDT	0.0000%	8h	743.47	−0.050%	$365K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.81	−0.004%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	744.35	+0.068%	$2.4M	$3.1M	—	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	744.40	+0.075%	$12K	$445K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.86	+0.003%	$795	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	743.75	−0.012%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.01	+0.023%	$2.0M	$8K	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	743.84	long leg	$778K	$3.1M	20x
QFEX META-USD	+0.0036%	1h	743.62	−0.030%	$2.2M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.63	−0.028%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.88	+0.005%	—	$10K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.62	−0.030%	$585K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.93	+0.012%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.09	−0.101%	$823K	$4.6M	10x	as long as short
Popdex METAUSDT	+0.0072%	1h	743.81	−0.004%	$179K	$199K	20x	as long as short
Aftermath Perps METAUSD	+0.0081%	1h	744.63	+0.106%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0093%	8h	743.72	−0.016%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.91	+0.009%	$1.6M	$555K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.28	−0.075%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.97	+0.017%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.82	−0.002%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	743.76	−0.011%	$615K	$7.3M	10x	as long as short
Hotstuff META-PERP	+0.0184%	1h	743.80	−0.005%	$33K	$105	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0208%	1h	743.45	−0.052%	$31K	$246K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.14	+0.309%	$172K	$48K	30x	as long as short
Lighter META	+0.0280%	1h	743.84	0.000%	$865K	$2.5M	20x	as long as short
tradeXYZ xyz:META	+0.0294%	1h	743.73	−0.015%	$69.6M	$120.7M	20x	as long as short
Phoenix META	+0.0591%	1h	744.96	+0.151%	$715K	$1.2M	20x	as long as short
edgeX METAUSDC	+0.0902%	4h	744.26	+0.057%	$62K	$336K	10x	as long as short