Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.017%

Price spread now: SunX against Lighter RH+0.011%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$690.687% of the position

Long on Lighter RH Short on SunX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.080%+$8 · spread now +0.011%, 7d avg +0.010%

Together, before fees+0.003%+ Points / potential airdropLighter RH: Points live · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	741.81	0.0032	pay 0.0004% / 1h	49m 25s	$763K	$3.0M	20x
Short	SunX META-USDT	741.89	0	get 0.0000% / 8h	5h 49m	$941	$9.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$6.72
Price spread: +0.011% → +0.010%: $0.1
Slippage, 4 orders: −$60.67
Fee Lighter RH: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$75.29
Costs to cover: 0.687%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; SunX: live order book, 10 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	1.75 bp	2.0 bp −$2	4.4 bp −$44	50.0 bp −$5,004	doesn't fit
Sell SunX live order book, 10 min ago	28.13 bp	32.1 bp −$32	61.7 bp −$617	doesn't fit	doesn't fit

META on 35 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
Nado META-PERP	−0.0055%	1h	741.51	−0.041%	$479K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.32	−0.066%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.45	−0.049%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.50	−0.041%	$27.3M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.35	−0.062%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.51	−0.040%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.30	−0.069%	$356K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.58	−0.031%	$5.4M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	741.74	−0.009%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.92	+0.015%	$13K	$432K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDTshort	0.0000%	8h	741.89	+0.011%	$941	$9.1M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.34	−0.063%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.67	−0.019%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.10	+0.039%	$2.0M	$8K	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	741.81	long leg	$763K	$3.0M	20x
QFEX META-USD	+0.0032%	1h	741.51	−0.040%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.40	−0.055%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.87	+0.008%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.68	−0.018%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.38	−0.058%	$559K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.94	+0.018%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.02	−0.106%	$705K	$4.2M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	741.42	−0.053%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0072%	1h	742.45	+0.086%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	+0.001%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.66	−0.020%	$1.6M	$504K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.18	−0.085%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.41	−0.054%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.60	−0.028%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.36	+0.344%	$172K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	741.79	−0.003%	$861K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0232%	1h	742.01	+0.027%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0343%	1h	741.64	−0.023%	$69.0M	$119.9M	20x	as long as short
Phoenix META	+0.0496%	1h	742.78	+0.131%	$496K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0529%	4h	741.87	+0.009%	$62K	$335K	10x	as long as short