Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0256%/8h= −28.0% APRpaid last 24h −0.013%

Price spread now: Binance against Lighter−0.019%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$130.133% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.182%−$18 on $10k

Price spread, last 7 days+0.021%+$2 · spread now −0.019%, 7d avg +0.036%

Together, before fees−0.161%+ Points / potential airdropLighter: Season 3 · farm board−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Binance is 0.055% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.036%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	742.97	0.0256	pay 0.0032% / 1h	4m 00s	$862K	$2.4M	20x
Short	Binance METAUSDT	742.83	0	get 0.0000% / 8h	5h 04m	$27.4M	$179.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now −0.019%Rate

Funding earned: −$53.76
Price spread: −0.019% → +0.036%: −$5.47
Slippage, 4 orders: −$3.33
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$72.56
Costs to cover: 0.133%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Binance: live order book, 9 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 Lighter live order book, 3 min ago	0.07 bp	1.3 bp −$1	2.4 bp −$24	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.47 bp	6.3 bp −$6	11.9 bp −$119	41.1 bp −$4,108	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	743.01	+0.005%	$330K	$1.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	−0.0114%	1h	742.28	−0.093%	$31K	$245K	10x	as long as short
Nado META-PERP	−0.0028%	1h	742.67	−0.040%	$480K	$550K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.41	−0.075%	$467K	$550K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.64	−0.044%	$548K	$2.7M	17x	as long as short
Binance METAUSDTshort	0.0000%	8h	742.83	−0.019%	$27.4M	$179.4M	20x
Bybit METAUSDT	0.0000%	8h	742.63	−0.046%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.92	−0.007%	$6.0M	$13.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.41	−0.075%	$362K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.84	−0.017%	$5.5M	$11.5M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni META	0.0000%	8h	742.77	−0.027%	$2.4M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	741.81	−0.156%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.79	−0.024%	$983	$9.1M	20x	as long as short
HTX META-USDT	0.0000%	8h	742.48	−0.066%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.77	−0.027%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.99	+0.003%	$768K	$3.0M	20x	as long as short
QFEX META-USD	+0.0032%	1h	742.63	−0.046%	$2.1M	$13.6M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.16	−0.109%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	743.08	+0.015%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.85	−0.016%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.48	−0.066%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.83	−0.019%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	742.25	−0.097%	$721K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	742.74	−0.031%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	742.87	−0.014%	$50K	$82K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	742.46	−0.069%	$613K	$7.2M	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.71	−0.035%	$1.6M	$528K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.06	−0.257%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.70	−0.036%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.53	−0.059%	$267	—	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	742.07	−0.121%	$171K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0240%	1h	742.90	−0.009%	$33K	$105	20x	as long as short
Lighter METAlong	+0.0256%	1h	742.97	long leg	$862K	$2.4M	20x
tradeXYZ xyz:META	+0.0329%	1h	742.75	−0.030%	$69.4M	$120.2M	20x	as long as short
Phoenix META	+0.0496%	1h	742.66	−0.042%	$591K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0769%	4h	742.22	−0.101%	$62K	$336K	10x	as long as short