META

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0200%/8h= −21.9% APRnext payment −$0.25 per $10,000 · paid last 24h −0.023%

Price spread now: Lighter RH against Lighter+0.009%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

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

costs, in and out, $10k−$50.052% of the position

Long on Lighter Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now +0.009%, 7d avg +0.029%

Together, before fees−0.047%+ Points / potential airdropLighter: Season 3 · Lighter RH: Points live · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.029%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.057% in total (about -3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	739.69	0.0232	pay 0.0029% / 1h	23m 45s	$851K	$2.5M	20x
Short	Lighter RH META	739.76	0.0032	get 0.0004% / 1h	23m 45s	$750K	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$42
Price spread: +0.009% → +0.029%: −$1.96
Slippage, 4 orders: −$5.18
Fee Lighter: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$49.14
Costs to cover: 0.052%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Lighter RH: live order book, 4 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	0.20 bp	0.2 bp $0	2.1 bp −$21	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	2.30 bp	2.3 bp −$2	4.5 bp −$45	45.1 bp −$4,510	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	739.77	+0.011%	$328K	$1.1M	20x	as long as short
Nado META-PERP	−0.0016%	1h	739.29	−0.054%	$423K	$388K	20x	as long as short
Aster METAUSDT	0.0000%	8h	739.69	0.000%	$466K	$549K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	739.41	−0.038%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	739.58	−0.015%	$27.4M	$179.3M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	739.64	−0.007%	$7.6M	$14.0M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	739.61	−0.011%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.12	−0.077%	$352K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	739.48	−0.028%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.24	−0.060%	$2.3M	$3.3M	—	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	739.40	−0.039%	$12K	$471K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.01	+0.043%	$909	$9.3M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	739.09	−0.081%	$30K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	739.38	−0.042%	$104K	$295K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	739.70	+0.001%	$2.0M	$8K	10x	as long as short
edgeX METAUSDC	+0.0007%	4h	739.30	−0.052%	$62K	$333K	10x	as long as short
Lighter RH METAshort	+0.0032%	1h	739.76	+0.009%	$750K	$3.2M	20x
Vest META-USD-PERP	+0.0046%	1h	739.89	+0.027%	—	$11K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	739.56	−0.018%	$177K	$194K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	739.34	−0.047%	$557K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	739.56	−0.018%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	738.84	−0.115%	$676K	$4.4M	10x	as long as short
QFEX META-USD	+0.0055%	1h	739.48	−0.028%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	739.11	−0.078%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0065%	8h	739.38	−0.043%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.09	+0.055%	$48K	$80K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	739.65	−0.005%	$1.6M	$436K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.16	−0.072%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	739.64	−0.007%	$1K	$24	10x	as long as short
Hotstuff META-PERP	+0.0104%	1h	739.58	−0.015%	$33K	$105	20x	as long as short
Aevo META-PERP	+0.0104%	1h	739.44	−0.034%	$266	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	739.31	−0.051%	$613K	$7.3M	10x	as long as short
tradeXYZ xyz:META	+0.0167%	1h	739.51	−0.024%	$67.5M	$121.5M	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	740.90	+0.164%	$171K	$48K	30x	as long as short
Lighter METAlong	+0.0232%	1h	739.69	long leg	$851K	$2.5M	20x
Phoenix META	+0.0259%	1h	739.71	+0.003%	$286K	$930K	20x	as long as short