Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.011%

Price spread now: Lighter RH against SunX−0.035%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

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

Long on SunX Short on Lighter RH

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)−0.056%−$6 · spread now −0.035%, 7d avg −0.006%

Together, before fees+0.021%+ Points / potential airdropLighter RH: Points live · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.029% cheaper against SunX than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of −0.006%). If the spread goes back, that is −$3 on $10k: about 29 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.077% in total) that is about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX META-USDT	744.44	0	get 0.0000% / 8h	48m 29s	$942	$8.1M	20x
Short	Lighter RH META	744.18	0.0080	get 0.0010% / 1h	48m 29s	$788K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.035%Rate

Funding earned: $16.8
Price spread: −0.035% → −0.006%: −$2.87
Slippage, 4 orders: −$60.74
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$54.81
Costs to cover: 0.687%
Break-even: 29.8 days

Slippage from SunX: live order book, 11 min ago; Lighter RH: live order book, 5 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 SunX live order book, 11 min ago	28.21 bp	32.2 bp −$32	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 5 min ago	1.61 bp	2.1 bp −$2	8.1 bp −$81	47.0 bp −$4,697	doesn't fit

META on 37 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	744.46	+0.003%	$332K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.09	+0.088%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.83	−0.082%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.95	−0.065%	$25.1M	$188.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.81	−0.085%	$7.4M	$15.4M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	744.19	−0.034%	$6.0M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.76	−0.091%	$465K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.05	−0.052%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.33	−0.015%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	744.62	+0.025%	$12K	$438K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDTlong	0.0000%	8h	744.44	long leg	$942	$8.1M	20x
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.73	−0.095%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.24	−0.027%	$106K	$309K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.88	+0.059%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.00	−0.059%	$2.2M	$13.9M	10x	as long as short
Arcus META-USD	+0.0040%	1h	744.25	−0.026%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.28	−0.021%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.71	−0.098%	$564K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.08	−0.048%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.71	−0.098%	$728K	$5.1M	10x	as long as short
edgeX METAUSDC	+0.0051%	4h	744.65	+0.028%	$62K	$344K	10x	as long as short
Paradex META-USD-PERP	+0.0055%	8h	743.76	−0.091%	—	—	5x	as long as short
Nado META-PERP	+0.0073%	1h	743.47	−0.130%	$479K	$560K	20x	as long as short
Lighter RH METAshort	+0.0080%	1h	744.18	−0.035%	$788K	$3.1M	20x
Aftermath Perps METAUSD	+0.0085%	1h	744.76	+0.043%	$46K	$88K	10x	as long as short
Pacifica META	+0.0100%	1h	744.12	−0.043%	$13	$106	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.18	−0.035%	$1.6M	$709K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.68	−0.102%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.38	−0.008%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.04	−0.053%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.65	+0.028%	$654K	$7.9M	10x	as long as short
Popdex METAUSDT	+0.0136%	1h	743.95	−0.066%	$177K	$203K	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.52	+0.548%	$173K	$46K	30x	as long as short
Hotstuff META-PERP	+0.0408%	1h	744.65	+0.028%	$33K	$105	20x	as long as short
Lighter META	+0.0512%	1h	744.48	+0.005%	$1.1M	$2.9M	20x	as long as short
tradeXYZ xyz:META	+0.0555%	1h	744.34	−0.013%	$80.5M	$129.2M	20x	as long as short
Phoenix META	+0.0750%	1h	746.46	+0.271%	$797K	$1.5M	20x	as long as short