META

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h +0.110%

Price spread now: Extended against Lighter−0.051%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$140.137% of the position

Long on Lighter Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.051%, 7d avg −0.006%

Together, before fees+0.046%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Extended is 0.045% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	740.14	0.0096	pay 0.0012% / 1h	38m 52s	$855K	$2.4M	20x
Short	Extended META_24_5-USD	739.76	0	get 0.0000% / 1h	38m 52s	$550K	$2.7M	17x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$20.16
Price spread: −0.051% → −0.006%: −$4.52
Slippage, 4 orders: −$8.68
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$38.36
Costs to cover: 0.137%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Extended: 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 Lighter live order book, 3 min ago	0.81 bp	0.9 bp −$1	2.0 bp −$20	doesn't fit	doesn't fit
Sell Extended live order book, 5 min ago	0.68 bp	6.0 bp −$6	27.8 bp −$278	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
Deribit META_USDC-PERPETUAL	−0.0210%	1h	739.42	−0.097%	$31K	$244K	10x	as long as short
Nado META-PERP	−0.0148%	1h	739.74	−0.054%	$478K	$547K	20x	as long as short
BloFin META-USDT	−0.0120%	8h	739.99	−0.020%	$327K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	740.69	+0.075%	$466K	$549K	20x	as long as short
Extended META_24_5-USDshort	0.0000%	1h	739.76	−0.051%	$550K	$2.7M	17x
Binance METAUSDT	0.0000%	8h	739.90	−0.033%	$27.3M	$179.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.96	−0.024%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.88	−0.035%	$5.9M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.67	−0.064%	$351K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.92	−0.030%	$5.5M	$11.3M	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	739.73	−0.055%	$2.3M	$3.1M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	739.92	−0.030%	$12K	$435K	10x	as long as short
SunX META-USDT	0.0000%	8h	739.97	−0.023%	$825	$9.2M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.35	+0.028%	$105K	$296K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	740.05	−0.012%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0025%	1h	739.88	−0.035%	$2.2M	$14.0M	10x	as long as short
Lighter RH META	+0.0032%	1h	740.29	+0.020%	$750K	$3.0M	20x	as long as short
Arcus META-USD	+0.0040%	1h	739.52	−0.084%	$110K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.33	+0.026%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.93	−0.028%	$176K	$197K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.78	−0.049%	$557K	$855K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.92	−0.030%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.23	−0.123%	$697K	$4.3M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	739.73	−0.055%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0069%	1h	740.51	+0.050%	$49K	$80K	10x	as long as short
Lighter METAlong	+0.0096%	1h	740.14	long leg	$855K	$2.4M	20x
KuCoin METAUSDTM	+0.0100%	8h	740.03	−0.015%	$1.6M	$471K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.34	−0.108%	$166K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.99	−0.020%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	739.82	−0.043%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	739.45	−0.093%	$609K	$7.2M	10x	as long as short
Hotstuff META-PERP	+0.0112%	1h	739.99	−0.020%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	739.58	−0.076%	$170K	$48K	30x	as long as short
tradeXYZ xyz:META	+0.0246%	1h	740.13	−0.001%	$68.3M	$120.3M	20x	as long as short
Phoenix META	+0.0313%	1h	740.70	+0.076%	$386K	$1.1M	20x	as long as short
edgeX METAUSDC	+0.0992%	4h	740.02	−0.016%	$62K	$334K	10x	as long as short