Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h —

Price spread now: Lighter RH against Paradex+0.053%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 RH

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 RH: Points live · farm boardneeds both histories

The price spread pays, funding is against you. Lighter RH is 0.053% dearer against Paradex than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex META-USD-PERP	741.42	0.0056	pay 0.0056% / 8h	5h 49m	—	—	5x
Short	Lighter RH META	741.81	0.0032	get 0.0004% / 1h	49m 40s	$763K	$3.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$4.94
Price spread: +0.053% → 0.000%: $5.25
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$3.69
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Lighter RH: 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 RH live order book, 4 min ago	1.75 bp	2.5 bp −$2	4.9 bp −$49	43.4 bp −$4,338	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 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	−0.0059%	1h	741.61	+0.025%	$479K	$549K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.43	+0.002%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.45	+0.003%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.62	+0.028%	$27.3M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.35	−0.010%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.84	+0.057%	$5.9M	$13.3M	20x	as long as short
Gate META_USDT	0.0000%	8h	741.32	−0.014%	$356K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.58	+0.022%	$5.4M	$11.3M	100x	as long as short
Variational Omni META	0.0000%	8h	741.74	+0.043%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.92	+0.068%	$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-USDT	0.0000%	8h	741.89	+0.063%	$941	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.34	−0.011%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	741.67	+0.034%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.10	+0.092%	$2.0M	$8K	10x	as long as short
Lighter RH METAshort	+0.0032%	1h	741.81	+0.053%	$763K	$3.0M	20x
QFEX META-USD	+0.0032%	1h	741.51	+0.012%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	741.40	−0.003%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.11	+0.093%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.68	+0.035%	$178K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.78	+0.048%	$559K	$548K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.94	+0.070%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.02	−0.054%	$705K	$4.2M	10x	as long as short
Paradex META-USD-PERPlong	+0.0056%	8h	741.42	long leg	—	—	5x
Aftermath Perps METAUSD	+0.0072%	1h	742.50	+0.146%	$49K	$81K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	741.82	+0.054%	$610K	$7.1M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.80	+0.051%	$1.6M	$504K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.18	−0.032%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.76	+0.046%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.60	+0.025%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.36	+0.396%	$172K	$48K	30x	as long as short
Lighter META	+0.0232%	1h	741.79	+0.050%	$861K	$2.4M	20x	as long as short
Hotstuff META-PERP	+0.0232%	1h	742.01	+0.080%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0340%	1h	741.84	+0.057%	$69.0M	$119.9M	20x	as long as short
Phoenix META	+0.0496%	1h	742.71	+0.174%	$491K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0529%	4h	741.87	+0.061%	$62K	$335K	10x	as long as short