META

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0112%/8h= +12.3% APRnext payment +$0.14 per $10,000 · paid last 24h −0.018%

Price spread now: Deribit against Lighter+0.001%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$170.171% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.066%−$7 on $10k

Price spread, last 3 days (all we have)+0.123%+$12 · spread now +0.001%, 7d avg −0.037%

Together, before fees+0.057%+ Points / potential airdropLighter: Season 3 · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.038% dearer against Lighter than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.037%. Mind the row above: over the last 5 days funding on this pair cost −0.066%, 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	Lighter META	741.39	0.0056	pay 0.0007% / 1h	23m 37s	$862K	$2.5M	20x
Short	Deribit META_USDC-PERPETUAL	741.40	0.0168	get 0.0021% / 1h	23m 37s	$30K	$256K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.001%Rate

Funding earned: $23.58
Price spread: +0.001% → −0.037%: $3.79
Slippage, 4 orders: −$10.08
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $10.3
Costs to cover: 0.171%
Break-even: 3.9 days

Slippage from Lighter: live order book, 3 min ago; Deribit: live order book, 60 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	0.74 bp	0.9 bp −$1	1.9 bp −$19	doesn't fit	doesn't fit
Sell Deribit live order book, 60 min ago	0.07 bp	11.6 bp −$12	15.2 bp −$152	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	741.36	−0.004%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0085%	1h	741.28	−0.015%	$395K	$317K	20x	as long as short
Aster METAUSDT	0.0000%	8h	741.76	+0.050%	$458K	$536K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	741.16	−0.031%	$548K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	741.30	−0.012%	$27.0M	$178.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	741.24	−0.020%	$7.5M	$13.9M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	741.41	+0.003%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	740.71	−0.092%	$343K	$5.5M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	741.23	−0.022%	$5.8M	$11.0M	100x	as long as short
Variational Omni META	0.0000%	8h	741.24	−0.020%	$1.6M	$2.6M	—	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	741.30	−0.012%	$12K	$506K	10x	as long as short
SunX META-USDT	0.0000%	8h	741.51	+0.016%	$1K	$9.5M	20x	as long as short
HTX META-USDT	0.0000%	8h	741.09	−0.040%	$107K	$287K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	741.30	−0.012%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0003%	1h	741.18	−0.028%	$2.2M	$14.2M	10x	as long as short
Lighter RH META	+0.0032%	1h	741.43	+0.005%	$749K	$3.2M	20x	as long as short
Arcus META-USD	+0.0040%	1h	740.88	−0.069%	$111K	$481K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	741.75	+0.049%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	741.36	−0.004%	$178K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	741.39	0.000%	$542K	$840K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	741.36	−0.004%	$24K	$3K	10x	as long as short
Paradex META-USD-PERP	+0.0050%	8h	741.06	−0.044%	—	—	5x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.06	−0.045%	$639K	$4.1M	10x	as long as short
Aftermath Perps METAUSD	+0.0053%	1h	741.86	+0.063%	$49K	$66K	10x	as long as short
Lighter METAlong	+0.0056%	1h	741.39	long leg	$862K	$2.5M	20x
Coinbase International META-PERP-INTX	+0.0064%	1h	740.91	−0.065%	$606K	$7.4M	10x	as long as short
Phoenix META	+0.0065%	1h	741.28	−0.015%	$291K	$791K	20x	as long as short
Hotstuff META-PERP	+0.0072%	1h	741.49	+0.013%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0099%	1h	741.29	−0.013%	$68.6M	$120.9M	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	741.11	−0.038%	$1.6M	$364K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.02	−0.050%	$166K	$73K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	741.30	−0.012%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	741.17	−0.030%	$267	—	10x	as long as short
Deribit META_USDC-PERPETUALshort	+0.0168%	1h	741.40	+0.001%	$30K	$256K	10x
Injective META/USDC PERP	+0.0220%	1h	741.16	−0.031%	$169K	$46K	30x	as long as short
edgeX METAUSDC	+0.0566%	4h	741.12	−0.036%	$62K	$332K	10x	as long as short