Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0191%/8h= +20.9% APRpaid last 24h —

Price spread now: Lighter against Paradex+0.058%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · Lighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.058% dearer against Paradex than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex META-USD-PERP	741.57	0.0057	pay 0.0057% / 8h	12m 32s	—	—	5x
Short	Lighter META	742.00	0.0248	get 0.0031% / 1h	12m 32s	$860K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Paradex. 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 ParadexbpFee LighterbpOrdersPrice spread, now +0.058%Rate

Funding earned: $40.09
Price spread: +0.058% → 0.000%: $5.82
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $41.91
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 4 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 Paradex no order-book sample	—	—	—	—	—
Sell Lighter live order book, 4 min ago	0.47 bp	0.6 bp −$1	2.2 bp −$22	doesn't fit	doesn't fit

Paradex: 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 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	741.71	+0.019%	$328K	$1.1M	20x	as long as short
Nado META-PERP	0.0000%	1h	741.21	−0.048%	$385K	$332K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.91	+0.046%	$457K	$540K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.70	+0.018%	$549K	$1.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.88	+0.042%	$27.4M	$180.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.75	+0.025%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.92	+0.047%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.35	−0.029%	$344K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.79	+0.030%	$5.6M	$11.4M	100x	as long as short
Variational Omni META	0.0000%	8h	741.89	+0.043%	$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	+0.032%	$12K	$482K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.48	−0.012%	$744	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.49	−0.011%	$107K	$285K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.94	+0.050%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0027%	1h	741.83	+0.035%	$2.2M	$14.3M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.93	+0.049%	$761K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	741.43	−0.019%	$110K	$454K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.60	+0.004%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.82	+0.034%	$178K	$209K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.53	−0.005%	$550K	$849K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.57	0.000%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	740.92	−0.087%	$759K	$4.3M	10x	as long as short
Paradex META-USD-PERPlong	+0.0057%	8h	741.57	long leg	—	—	5x
Aftermath Perps METAUSD	+0.0071%	1h	742.32	+0.101%	$50K	$76K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.24	−0.044%	$608K	$7.4M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.71	+0.019%	$1.6M	$399K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	740.93	−0.086%	$166K	$74K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.52	−0.006%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.53	−0.005%	$267	—	10x	as long as short
Phoenix META	+0.0129%	1h	741.77	+0.027%	$291K	$797K	20x	as long as short
Hotstuff META-PERP	+0.0168%	1h	741.59	+0.003%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	743.58	+0.271%	$169K	$46K	30x	as long as short
Lighter METAshort	+0.0248%	1h	742.00	+0.058%	$860K	$2.6M	20x
tradeXYZ xyz:META	+0.0264%	1h	741.72	+0.020%	$67.7M	$122.7M	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0465%	1h	741.55	−0.002%	$30K	$258K	10x	as long as short
edgeX METAUSDC	+0.0727%	4h	741.69	+0.016%	$62K	$334K	10x	as long as short