Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0256%/8h= +28.0% APRpaid last 24h +0.044%

Price spread now: Lighter against SunX+0.009%7-day average −0.039% · you sell dearer than you buy

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

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 4 days (all we have)−0.428%−$43 · spread now +0.009%, 7d avg −0.039%

Together, before fees−0.291%+ Points / potential airdropLighter: Season 3 · farm board−$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Lighter is 0.049% dearer against SunX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.039%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.137% in total (about 7.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	743.01	0	get 0.0000% / 8h	5h 03m	$1K	$9.1M	20x
Short	Lighter META	743.08	0.0256	get 0.0032% / 1h	3m 06s	$862K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.009%Rate

Funding earned: $53.76
Price spread: +0.009% → −0.039%: $4.87
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $50.63
Costs to cover: 0.080%
Break-even: 0.4 days

Slippage unknown: SunX: live order book, 6 min ago; 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 SunX live order book, 6 min ago	500.13 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.07 bp	0.2 bp $0	1.7 bp −$17	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	742.81	−0.027%	$330K	$1.1M	20x	as long as short
Nado META-PERP	−0.0030%	1h	742.59	−0.057%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.49	−0.070%	$467K	$550K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.73	−0.038%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.99	−0.003%	$27.4M	$179.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.92	−0.012%	$7.5M	$13.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.99	−0.003%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.60	−0.055%	$362K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.05	+0.005%	$5.5M	$11.5M	100x	as long as short
Variational Omni META	0.0000%	8h	742.77	−0.032%	$2.4M	$3.1M	—	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	742.91	−0.013%	$12K	$435K	10x	as long as short
SunX META-USDTlong	0.0000%	8h	743.01	long leg	$1K	$9.1M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.41	−0.081%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.79	−0.030%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.94	−0.009%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.10	+0.012%	$768K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	742.67	−0.046%	$2.1M	$13.6M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.22	−0.106%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.06	+0.007%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.06	+0.007%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.71	−0.040%	$560K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.02	+0.001%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.16	−0.114%	$721K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	742.68	−0.044%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	743.08	+0.009%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.87	−0.019%	$613K	$7.2M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.79	−0.030%	$1.6M	$528K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.51	−0.067%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.79	−0.030%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.63	−0.051%	$267	—	10x	as long as short
edgeX METAUSDC	+0.0188%	4h	742.88	−0.018%	$62K	$337K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.07	−0.127%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	742.91	−0.013%	$33K	$105	20x	as long as short
Lighter METAshort	+0.0256%	1h	743.08	+0.009%	$862K	$2.4M	20x
tradeXYZ xyz:META	+0.0329%	1h	743.05	+0.005%	$69.4M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	743.64	+0.085%	$596K	$1.1M	20x	as long as short