Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0266%/8h= +29.1% APRpaid last 24h +0.051%

Price spread now: edgeX against Lighter−0.045%79s7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs+$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.219% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.420%+$42 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now −0.045%, 7d avg +0.011%

Together, before fees+0.446%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.057% cheaper against Lighter than usual: you would sell low and buy high (spread −0.045% now, against its 7-day average of +0.011%). If the spread goes back, that is −$6 on $10k: about 17 hours of funding at the current rate (+$8 a day). The two prices were read 79 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	742.56	0.0240	pay 0.0030% / 1h	36m 04s	$858K	$2.4M	20x
Short	edgeX METAUSDC	742.22	0.0506	get 0.0253% / 4h	36m 04s	$62K	$336K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.045%Rate

Funding earned: $55.76
Price spread: −0.045% → +0.011%: −$5.68
Slippage, 4 orders: −$12.87
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $28.22
Costs to cover: 0.219%
Break-even: 3.5 days

Slippage from Lighter: live order book, 6 min ago; edgeX: live order book, 22 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, 6 min ago	0.67 bp	0.8 bp −$1	1.8 bp −$18	doesn't fit	doesn't fit
Sell edgeX live order book, 22 min ago	5.31 bp	9.9 bp −$10	11.5 bp −$115	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	742.41	−0.020%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0034%	1h	741.95	−0.083%	$480K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	742.33	−0.031%	$466K	$551K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	742.29	−0.036%	$548K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	742.50	−0.008%	$27.5M	$180.5M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	742.24	−0.043%	$7.5M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	742.46	−0.013%	$6.0M	$13.5M	20x	as long as short
Gate META_USDT	0.0000%	8h	742.16	−0.054%	$364K	$5.7M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	742.37	−0.026%	$5.4M	$11.7M	100x	as long as short
Variational Omni META	0.0000%	8h	742.38	−0.025%	$2.4M	$3.1M	—	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	742.51	−0.007%	$12K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	742.62	+0.008%	$901	$9.1M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	741.90	−0.089%	$31K	$245K	10x	as long as short
HTX META-USDT	0.0000%	8h	742.30	−0.035%	$106K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	742.35	−0.028%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	742.60	+0.005%	$768K	$3.0M	20x	as long as short
QFEX META-USD	+0.0036%	1h	742.40	−0.022%	$2.1M	$13.7M	10x	as long as short
Arcus META-USD	+0.0040%	1h	742.02	−0.073%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	742.52	−0.005%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	742.36	−0.027%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	742.20	−0.048%	$559K	$540K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	742.37	−0.026%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	741.69	−0.117%	$709K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0062%	8h	742.23	−0.044%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0080%	1h	743.15	+0.079%	$51K	$82K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	742.57	+0.001%	$1.6M	$541K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	741.72	−0.113%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	742.38	−0.024%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	742.27	−0.039%	$267	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	742.02	−0.073%	$614K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0152%	1h	742.44	−0.016%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.47	+0.257%	$172K	$48K	30x	as long as short
Lighter METAlong	+0.0240%	1h	742.56	long leg	$858K	$2.4M	20x
tradeXYZ xyz:META	+0.0278%	1h	742.46	−0.013%	$69.4M	$120.3M	20x	as long as short
edgeX METAUSDCshort	+0.0506%	4h	742.22	−0.045%	$62K	$336K	10x
Phoenix META	+0.0591%	1h	743.35	+0.106%	$652K	$1.2M	20x	as long as short