META

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0097%/8h= +10.7% APRnext payment +$0.12 per $10,000 · paid last 24h +0.039%

Price spread now: Phoenix against Lighter RH+0.001%75s7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$200.197% of the position

Long on Lighter RH Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.293%+$29 on $10k

Price spread, last 3 days (all we have)−0.113%−$11 · spread now +0.001%, 7d avg −0.031%

Together, before fees+0.180%+ Points / potential airdropLighter RH: Points live · farm board+$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.032% dearer against Lighter RH than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.031%. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	741.76	0.0032	pay 0.0004% / 1h	14m 13s	$756K	$3.2M	20x
Short	Phoenix META	741.77	0.0129	get 0.0016% / 1h	14m 13s	$291K	$797K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.001%Rate

Funding earned: $20.44
Price spread: +0.001% → −0.031%: $3.2
Slippage, 4 orders: −$12.71
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $3.93
Costs to cover: 0.197%
Break-even: 5.7 days

Slippage from Lighter RH: live order book, 4 min ago; Phoenix: live order book, 64 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, 4 min ago	0.20 bp	0.8 bp −$1	4.9 bp −$49	45.3 bp −$4,528	doesn't fit
Sell Phoenix live order book, 64 min ago	2.29 bp	8.5 bp −$8	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	741.86	+0.013%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0003%	1h	741.02	−0.099%	$385K	$332K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.70	−0.008%	$457K	$540K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.54	−0.029%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.67	−0.012%	$27.4M	$180.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.52	−0.032%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.52	−0.032%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.07	−0.093%	$344K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.56	−0.027%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.89	+0.017%	$2.3M	$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	741.81	+0.006%	$12K	$482K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.42	−0.046%	$744	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.44	−0.043%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.94	+0.024%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	741.54	−0.030%	$2.2M	$14.3M	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	741.76	long leg	$756K	$3.2M	20x
Arcus META-USD	+0.0040%	1h	741.22	−0.073%	$110K	$454K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.61	−0.020%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.60	−0.022%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.52	−0.032%	$550K	$849K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.54	−0.030%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.07	−0.093%	$759K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0054%	8h	741.43	−0.044%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0071%	1h	742.52	+0.103%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.24	−0.070%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.52	−0.032%	$1.6M	$398K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.25	−0.069%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.46	−0.040%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.47	−0.039%	$267	—	10x	as long as short
Phoenix METAshort	+0.0129%	1h	741.77	+0.001%	$291K	$797K	20x
Hotstuff META-PERP	+0.0168%	1h	741.57	−0.026%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0179%	4h	741.82	+0.009%	$62K	$333K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.17	−0.080%	$169K	$46K	30x	as long as short
Lighter META	+0.0248%	1h	741.81	+0.007%	$859K	$2.6M	20x	as long as short
tradeXYZ xyz:META	+0.0262%	1h	741.55	−0.028%	$67.7M	$122.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0519%	1h	741.54	−0.030%	$30K	$258K	10x	as long as short