Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0217%/8h= +23.8% APRpaid last 24h −0.067%

Price spread now: Lighter against edgeX+0.037%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

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

costs, in and out, $10k−$220.222% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.485%−$48 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now +0.037%, 7d avg −0.010%

Together, before fees−0.474%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$47 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Lighter is 0.047% dearer against edgeX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.010%. Mind the row above: over the last 7 days funding on this pair cost −0.485%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX METAUSDC	743.33	0.0079	pay 0.0039% / 4h	3h 37m	$63K	$346K	10x
Short	Lighter META	743.60	0.0296	get 0.0037% / 1h	37m 20s	$1.2M	$2.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now +0.037%Rate

Funding earned: $45.65
Price spread: +0.037% → −0.010%: $4.68
Slippage, 4 orders: −$13.17
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $28.15
Costs to cover: 0.222%
Break-even: 2.7 days

Slippage from edgeX: live order book, 61 min ago; Lighter: 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 edgeX live order book, 61 min ago	5.50 bp	10.1 bp −$10	11.7 bp −$117	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.67 bp	1.2 bp −$1	2.7 bp −$27	doesn't fit	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	743.46	+0.018%	$334K	$1.1M	20x	as long as short
Nado META-PERP	−0.0015%	1h	742.93	−0.053%	$479K	$560K	20x	as long as short
Aster METAUSDT	0.0000%	8h	743.63	+0.042%	$487K	$603K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.07	−0.034%	$547K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.27	−0.007%	$25.8M	$191.2M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.41	+0.011%	$7.4M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.49	+0.022%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.07	−0.034%	$474K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.33	+0.001%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	742.98	−0.046%	$2.5M	$3.0M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	743.50	+0.024%	$12K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	743.49	+0.022%	$1K	$7.8M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	742.88	−0.060%	$48K	$280K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.29	−0.005%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.59	+0.036%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	743.39	+0.009%	$793K	$2.9M	20x	as long as short
QFEX META-USD	+0.0036%	1h	743.38	+0.007%	$2.2M	$14.1M	10x	as long as short
Arcus META-USD	+0.0040%	1h	743.13	−0.026%	$112K	$337K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.69	+0.049%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	743.49	+0.022%	$180K	$204K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.74	−0.079%	$565K	$619K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.27	−0.007%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.83	−0.067%	$722K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	743.22	−0.014%	—	—	5x	as long as short
edgeX METAUSDClong	+0.0079%	4h	743.33	long leg	$63K	$346K	10x
Aftermath Perps METAUSD	+0.0081%	1h	743.97	+0.087%	$51K	$93K	10x	as long as short
Pacifica META	+0.0100%	1h	742.83	−0.067%	$625	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.40	+0.010%	$1.6M	$762K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	742.85	−0.064%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.13	−0.026%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.96	−0.050%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0120%	1h	743.34	+0.002%	$639K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.70	+0.319%	$176K	$52K	30x	as long as short
Hotstuff META-PERP	+0.0288%	1h	743.49	+0.022%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0295%	1h	743.56	+0.032%	$84.3M	$132.7M	20x	as long as short
Lighter METAshort	+0.0296%	1h	743.60	+0.037%	$1.2M	$2.9M	20x
Phoenix META	+0.0791%	1h	744.37	+0.141%	$795K	$1.5M	20x	as long as short