Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0301%/8h= +33.0% APRpaid last 24h +0.044%

Price spread now: Lighter against Bitget+0.003%7-day average −0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$200.205% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.142%+$14 on $10k

Price spread, last 7 days−0.008%−$1 · spread now +0.003%, 7d avg −0.029%

Together, before fees+0.134%+ Points / potential airdropLighter: Season 3 · farm board+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Lighter is 0.032% dearer against Bitget than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.029%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.142% in total (about 7.4% 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	Bitget METAUSDT	745.58	0.0067	pay 0.0067% / 8h	2h 48m	$5.5M	$11.9M	100x
Short	Lighter META	745.60	0.0368	get 0.0046% / 1h	48m 25s	$983K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.003%Rate

Funding earned: $63.21
Price spread: +0.003% → −0.029%: $3.19
Slippage, 4 orders: −$8.46
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $45.94
Costs to cover: 0.205%
Break-even: 1.9 days

Slippage from Bitget: live order book, 5 min ago; Lighter: live order book, 4 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 Bitget live order book, 5 min ago	0.47 bp	8.4 bp −$8	19.7 bp −$197	42.9 bp −$4,289	doesn't fit
Sell Lighter live order book, 4 min ago	0.74 bp	0.9 bp −$1	2.1 bp −$21	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	745.42	−0.021%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.39	+0.109%	$492K	$577K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.13	−0.061%	$547K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.42	−0.021%	$28.3M	$181.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.37	−0.028%	$7.4M	$14.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.22	−0.048%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	745.00	−0.078%	$430K	$5.9M	100x	as long as short
Variational Omni META	0.0000%	8h	745.99	+0.055%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	746.12	+0.072%	$12K	$448K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.63	+0.007%	$775	$8.5M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.09	−0.066%	$31K	$255K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.24	−0.046%	$106K	$305K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	746.06	+0.064%	$2.0M	$8K	10x	as long as short
Arcus META-USD	+0.0040%	1h	745.39	−0.025%	$111K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.43	−0.020%	—	$11K	25x	as long as short
QFEX META-USD	+0.0046%	1h	745.24	−0.046%	$2.2M	$13.7M	10x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.91	−0.090%	$586K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.32	−0.035%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.71	−0.117%	$759K	$4.5M	10x	as long as short
Nado META-PERP	+0.0054%	1h	744.80	−0.104%	$481K	$557K	20x	as long as short
Lighter RH META	+0.0064%	1h	745.57	−0.001%	$768K	$2.9M	20x	as long as short
Bitget METAUSDTlong	+0.0067%	8h	745.58	long leg	$5.5M	$11.9M	100x
Paradex META-USD-PERP	+0.0074%	8h	745.08	−0.068%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	746.05	+0.063%	$52K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.56	−0.003%	$1.6M	$633K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	745.03	−0.074%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.36	−0.030%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.24	−0.046%	$268	—	10x	as long as short
Popdex METAUSDT	+0.0120%	1h	745.44	−0.019%	$179K	$199K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	746.41	+0.111%	$671K	$7.6M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.43	+0.382%	$173K	$46K	30x	as long as short
Lighter METAshort	+0.0368%	1h	745.60	+0.003%	$983K	$2.5M	20x
Hotstuff META-PERP	+0.0472%	1h	745.92	+0.046%	$33K	$105	20x	as long as short
edgeX METAUSDC	+0.0524%	4h	745.99	+0.055%	$62K	$339K	10x	as long as short
tradeXYZ xyz:META	+0.0524%	1h	745.66	+0.011%	$72.3M	$122.7M	20x	as long as short
Phoenix META	+0.0685%	1h	746.70	+0.150%	$797K	$1.4M	20x	as long as short