Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0392%/8h= −42.9% APRpaid last 24h —

Price spread now: Paradex against Lighter−0.078%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Paradex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Paradex is 0.078% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter META	747.01	0.0448	pay 0.0056% / 1h	7m 24s	$1.1M	$2.9M	20x
Short	Paradex META-USD-PERP	746.43	0.0056	get 0.0056% / 8h	7m 24s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$82.32
Price spread: −0.078% → 0.000%: −$7.77
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$94.09
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 5 min ago; Paradex: no order-book sample. Net counts fees only.

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, 5 min ago	0.60 bp	0.7 bp −$1	2.8 bp −$28	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

META on 37 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	746.93	−0.011%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.50	−0.069%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.40	−0.082%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.64	−0.049%	$25.4M	$189.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.58	−0.058%	$7.5M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.67	−0.046%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.25	−0.102%	$473K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.63	−0.051%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	747.21	+0.027%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.23	+0.029%	$12K	$439K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.78	−0.031%	$884	$8.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	746.23	−0.104%	$34K	$276K	10x	as long as short
HTX META-USDT	0.0000%	8h	746.51	−0.067%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.33	+0.043%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0015%	1h	746.17	−0.112%	$481K	$561K	20x	as long as short
QFEX META-USD	+0.0031%	1h	746.54	−0.063%	$2.2M	$14.1M	10x	as long as short
Lighter RH META	+0.0040%	1h	746.84	−0.023%	$797K	$3.1M	20x	as long as short
Arcus META-USD	+0.0040%	1h	746.69	−0.043%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.21	+0.027%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.28	−0.098%	$568K	$625K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.78	−0.031%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.25	−0.102%	$744K	$5.1M	10x	as long as short
Paradex META-USD-PERPshort	+0.0056%	8h	746.43	−0.078%	—	—	5x
Popdex METAUSDT	+0.0064%	1h	746.71	−0.040%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.44	+0.058%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	746.67	−0.045%	$633	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.79	−0.029%	$1.6M	$727K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.55	−0.062%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.77	−0.032%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.64	−0.050%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.79	−0.029%	$651K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	750.24	+0.432%	$177K	$51K	30x	as long as short
Lighter METAlong	+0.0448%	1h	747.01	long leg	$1.1M	$2.9M	20x
Hotstuff META-PERP	+0.0464%	1h	746.99	−0.003%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0564%	1h	747.19	+0.024%	$83.7M	$131.6M	20x	as long as short
Phoenix META	+0.0750%	1h	747.82	+0.108%	$798K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0931%	4h	747.28	+0.036%	$62K	$344K	10x	as long as short