Funding you earn now, next payment 10:00 UTC+0.0214%/8h= +23.4% APRnext payment +$0.27 per $10,000 · paid last 24h +0.043%
Price spread now: Lighter against Ondo Perps+0.125%7-day average +0.056% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.041%+$4 on $10k
+Price spread, last 7 days−0.146%−$15 · spread now +0.125%, 7d avg +0.056%
=Together, before fees−0.105%+ Points / potential airdropOndo Perps: Active · Lighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.070% dearer against Ondo Perps than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.056%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.041% in total (about 2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.27 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Ondo Perps META-USD.P | 742.24 | 0.0050 | pay 0.0006% / 1h | 4m 41s | $691K | $5.0M | 10x |
| Short | Lighter META | 743.17 | 0.0264 | get 0.0033% / 1h | 4m 41s | $1.2M | $2.7M | 20x |
Ondo Perps META-USD.P
Lighter METAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Ondo Perps. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $44.86
- Price spread: +0.125% → +0.056%
- $6.96
- Slippage, 4 orders
- no order book: not counted
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- $46.82
- Costs to cover
- 0.050%
- Break-even
- from the start
Slippage unknown: Ondo Perps: no order-book sample; Lighter: live order book, 6 min ago. Net counts fees only.
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 Ondo Perps no order-book sample | — | — | — | — | — |
| Sell Lighter live order book, 6 min ago | 0.34 bp | 0.5 bp −$1 | 1.3 bp −$13 | doesn't fit | doesn't fit |
Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
META on 37 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff META-PERP | −0.1600% | 1h | 743.00 | +0.102% | $33K | $105 | 20x | as long as short |
| BloFin META-USDT | −0.0120% | 8h | 742.90 | +0.089% | $338K | $1.1M | 20x | as long as short |
| Aster METAUSDT | 0.0000% | 8h | 743.63 | +0.187% | $494K | $628K | 20x | as long as short |
| Extended META_24_5-USD | 0.0000% | 1h | 742.77 | +0.072% | $548K | $3.3M | 17x | as long as short |
| Binance METAUSDT | 0.0000% | 8h | 743.05 | +0.109% | $26.0M | $192.3M | 20x | as long as short |
| Bybit METAUSDT | 0.0000% | 8h | 742.92 | +0.092% | $7.7M | $15.8M | 100x | as long as short |
| OKX META-USDT-SWAP | 0.0000% | 8h | 742.84 | +0.081% | $6.1M | $12.9M | 20x | as long as short |
| Gate META_USDT | 0.0000% | 8h | 742.83 | +0.079% | $454K | $6.5M | 100x | as long as short |
| Bitget METAUSDT | 0.0000% | 8h | 742.94 | +0.094% | $5.7M | $12.3M | 100x | as long as short |
| Variational Omni META | 0.0000% | 8h | 743.38 | +0.153% | $2.5M | $3.0M | — | as long as short |
Hotstuff META-PERP
BloFin META-USDT
Aster METAUSDT
Extended META_24_5-USD
Binance METAUSDT
Bybit METAUSDT
OKX META-USDT-SWAP
Gate META_USDT
Bitget METAUSDT
Variational Omni METAShow all 37 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT META_USDT_Perp | 0.0000% | 8h | 743.91 | +0.225% | $12K | $433K | 10x | as long as short |
| SunX META-USDT | 0.0000% | 8h | 743.47 | +0.166% | $665 | $7.4M | 20x | as long as short |
| HTX META-USDT | 0.0000% | 8h | 742.72 | +0.065% | $107K | $299K | 30x | as long as short |
| Phemex METAUSDT | 0.0000% | 4h | 743.68 | +0.194% | $2.0M | $8K | 10x | as long as short |
| Deribit META_USDC-PERPETUAL | +0.0019% | 1h | 742.65 | +0.055% | $36K | $265K | 10x | as long as short |
| Lighter RH META | +0.0032% | 1h | 743.06 | +0.110% | $833K | $2.8M | 20x | as long as short |
| Nado META-PERP | +0.0040% | 1h | 742.92 | +0.091% | $476K | $552K | 20x | as long as short |
| Arcus META-USD | +0.0040% | 1h | 742.89 | +0.088% | $111K | $284K | 10x | as long as short |
| QFEX META-USD | +0.0041% | 1h | 743.17 | +0.125% | $2.2M | $14.0M | 10x | as long as short |
| Vest META-USD-PERP | +0.0046% | 1h | 743.45 | +0.163% | — | $11K | 25x | as long as short |
| Popdex METAUSDT | +0.0048% | 1h | 743.30 | +0.143% | $179K | $202K | 20x | as long as short |
| Polymarket Perps META-USD | +0.0050% | 1h | 742.95 | +0.096% | $560K | $612K | 10x | as long as short |
| SoDEX META-USD | +0.0050% | 1h | 742.79 | +0.074% | $24K | $3K | 10x | as long as short |
| Ondo Perps META-USD.Plong | +0.0050% | 1h | 742.24 | long leg | $691K | $5.0M | 10x | |
| Paradex META-USD-PERP | +0.0051% | 8h | 742.72 | +0.064% | — | — | 5x | as long as short |
| Aftermath Perps METAUSD | +0.0074% | 1h | 743.69 | +0.195% | $53K | $78K | 10x | as long as short |
| Coinbase International META-PERP-INTX | +0.0096% | 1h | 742.98 | +0.100% | $639K | $7.8M | 10x | as long as short |
| Pacifica META | +0.0100% | 1h | 742.54 | +0.040% | $606 | $2K | 10x | as long as short |
| KuCoin METAUSDTM | +0.0100% | 8h | 743.07 | +0.112% | $1.6M | $853K | 20x | as long as short |
| ApeX Omni METAUSDT | +0.0100% | 1h | 743.34 | +0.148% | $167K | $71K | 50x | as long as short |
| Orderly PERP_META_USDC_mythos | +0.0100% | 8h | 743.04 | +0.108% | $1K | $24 | 10x | as long as short |
| Aevo META-PERP | +0.0104% | 1h | 742.72 | +0.065% | $267 | — | 10x | as long as short |
| Injective META/USDC PERP | +0.0220% | 1h | 744.80 | +0.345% | $168K | $60K | 30x | as long as short |
| tradeXYZ xyz:META | +0.0236% | 1h | 742.83 | +0.079% | $86.0M | $135.2M | 20x | as long as short |
| Lighter METAshort | +0.0264% | 1h | 743.17 | +0.125% | $1.2M | $2.7M | 20x | |
| edgeX METAUSDC | +0.0533% | 4h | 743.63 | +0.187% | $62K | $348K | 10x | as long as short |
| Phoenix META | +0.0643% | 1h | 744.36 | +0.286% | $795K | $1.5M | 20x | as long as short |
GRVT META_USDT_Perp
SunX META-USDT
HTX META-USDT
Phemex METAUSDT
Deribit META_USDC-PERPETUAL
Lighter RH META
Nado META-PERP
Arcus META-USD
QFEX META-USD
Vest META-USD-PERP
Popdex METAUSDT
Polymarket Perps META-USD
SoDEX META-USD
Paradex META-USD-PERP
Aftermath Perps METAUSD
Coinbase International META-PERP-INTX
Pacifica META
KuCoin METAUSDTM
ApeX Omni METAUSDT
Orderly PERP_META_USDC_mythos
Aevo META-PERP
Injective META/USDC PERP
tradeXYZ xyz:META
edgeX METAUSDC
Phoenix META