META

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0208%/8h= −22.8% APRnext payment −$0.26 per $10,000 · paid last 24h −0.004%

Price spread now: Popdex against Lighter−0.036%7-day average +0.029% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$100.101% of the position

Long on Lighter Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.128%+$13 · spread now −0.036%, 7d avg +0.029%

Together, before fees+0.131%+ Points / potential airdropLighter: Season 3 · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Popdex is 0.065% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.029%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.003% in total (about 0.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.26 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	740.59	0.0256	pay 0.0032% / 1h	48m 08s	$856K	$2.4M	20x
Short	Popdex METAUSDT	740.32	0.0048	get 0.0006% / 1h	48m 08s	$178K	$194K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$43.68
Price spread: −0.036% → +0.029%: −$6.53
Slippage, 4 orders: −$3.71
Fee Lighter: 0 bp × 2 orders: $0
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$60.32
Costs to cover: 0.101%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Popdex: live order book, 26 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, 4 min ago	0.68 bp	0.7 bp −$1	1.1 bp −$11	doesn't fit	doesn't fit
Sell Popdex live order book, 26 min ago	0.40 bp	4.0 bp −$4	8.5 bp −$85	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	740.33	−0.035%	$327K	$1.1M	20x	as long as short
Phemex METAUSDT	−0.0086%	4h	740.78	+0.026%	$2.0M	$7K	10x	as long as short
Aster METAUSDT	0.0000%	8h	740.94	+0.047%	$463K	$546K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	740.20	−0.053%	$549K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	740.35	−0.032%	$27.4M	$178.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	740.17	−0.057%	$7.5M	$13.8M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	740.20	−0.053%	$6.0M	$13.2M	20x	as long as short
Gate META_USDT	0.0000%	8h	739.86	−0.099%	$357K	$5.6M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	740.21	−0.051%	$5.6M	$11.1M	100x	as long as short
Variational Omni META	0.0000%	8h	739.73	−0.116%	$2.3M	$3.2M	—	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	740.20	−0.053%	$12K	$486K	10x	as long as short
SunX META-USDT	0.0000%	8h	740.28	−0.042%	$899	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	740.21	−0.051%	$106K	$292K	30x	as long as short
Nado META-PERP	+0.0025%	1h	739.89	−0.094%	$382K	$335K	20x	as long as short
Lighter RH META	+0.0032%	1h	740.48	−0.015%	$758K	$3.1M	20x	as long as short
Vest META-USD-PERP	+0.0046%	1h	740.50	−0.012%	—	$11K	25x	as long as short
Popdex METAUSDTshort	+0.0048%	1h	740.32	−0.036%	$178K	$194K	20x
Polymarket Perps META-USD	+0.0050%	1h	740.15	−0.059%	$558K	$857K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	740.20	−0.053%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	739.58	−0.136%	$735K	$4.3M	10x	as long as short
QFEX META-USD	+0.0055%	1h	740.26	−0.045%	$2.2M	$14.2M	10x	as long as short
Arcus META-USD	+0.0063%	1h	739.77	−0.111%	$110K	$331K	10x	as long as short
Paradex META-USD-PERP	+0.0069%	8h	740.15	−0.059%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0070%	1h	740.61	+0.002%	$50K	$77K	10x	as long as short
Hotstuff META-PERP	+0.0080%	1h	740.17	−0.057%	$33K	$105	20x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	740.42	−0.023%	$1.6M	$415K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	739.43	−0.157%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	740.37	−0.030%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	740.20	−0.052%	$266	—	10x	as long as short
tradeXYZ xyz:META	+0.0109%	1h	740.12	−0.063%	$67.7M	$121.3M	20x	as long as short
Coinbase International META-PERP-INTX	+0.0144%	1h	739.59	−0.135%	$601K	$7.3M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	741.93	+0.181%	$169K	$46K	30x	as long as short
Lighter METAlong	+0.0256%	1h	740.59	long leg	$856K	$2.4M	20x
Phoenix META	+0.0259%	1h	740.16	−0.058%	$277K	$930K	20x	as long as short
Deribit META_USDC-PERPETUAL	+0.0453%	1h	740.52	−0.009%	$30K	$253K	10x	as long as short
edgeX METAUSDC	+0.0474%	4h	740.08	−0.069%	$62K	$333K	10x	as long as short