META

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0266%/8h= −29.1% APRnext payment −$0.33 per $10,000 · paid last 24h −0.036%

Price spread now: QFEX against Lighter−0.063%7-day average 0.000% · 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−$22as in the Price arb table

costs, in and out, $10k−$160.159% of the position

Long on Lighter Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.066%−$7 on $10k

Price spread, last 7 days+0.058%+$6 · spread now −0.063%, 7d avg 0.000%

Together, before fees−0.008%+ Points / potential airdropLighter: Season 3 · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and QFEX is 0.064% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of 0.000%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.066% in total (about -6.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.33 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	744.16	0.0312	pay 0.0039% / 1h	24m 21s	$1.0M	$2.6M	20x
Short	QFEX META-USD	743.69	0.0046	get 0.0006% / 1h	24m 21s	$2.2M	$13.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$55.86
Price spread: −0.063% → 0.000%: −$6.35
Slippage, 4 orders: −$5.9
Fee Lighter: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$78.11
Costs to cover: 0.159%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; QFEX: 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	0.87 bp	1.2 bp −$1	1.7 bp −$17	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	1.82 bp	6.8 bp −$7	8.0 bp −$80	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	744.02	−0.019%	$331K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.45	+0.039%	$479K	$589K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.56	−0.080%	$544K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	743.75	−0.055%	$27.7M	$182.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	743.86	−0.040%	$7.3M	$15.1M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	743.84	−0.043%	$6.0M	$12.4M	20x	as long as short
Gate META_USDT	0.0000%	8h	743.24	−0.124%	$440K	$5.9M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.89	−0.036%	$5.6M	$12.1M	100x	as long as short
Variational Omni META	0.0000%	8h	743.94	−0.029%	$2.4M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	743.10	−0.142%	$12K	$442K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	743.94	−0.030%	$782	$8.4M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	743.40	−0.102%	$31K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	743.79	−0.050%	$106K	$306K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	743.28	−0.118%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0020%	1h	743.68	−0.064%	$481K	$558K	20x	as long as short
Lighter RH META	+0.0032%	1h	744.02	−0.019%	$769K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	743.21	−0.128%	$110K	$331K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	744.16	0.000%	—	$11K	25x	as long as short
QFEX META-USDshort	+0.0046%	1h	743.69	−0.063%	$2.2M	$13.8M	10x
Popdex METAUSDT	+0.0048%	1h	743.72	−0.059%	$178K	$200K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	743.38	−0.105%	$585K	$564K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	743.72	−0.059%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	743.52	−0.086%	$736K	$4.9M	10x	as long as short
Paradex META-USD-PERP	+0.0075%	8h	743.78	−0.052%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0085%	1h	744.33	+0.022%	$51K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	743.73	−0.058%	$1.6M	$646K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	743.02	−0.153%	$166K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	743.78	−0.051%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	743.65	−0.069%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	743.58	−0.078%	$655K	$7.8M	10x	as long as short
edgeX METAUSDC	+0.0212%	4h	743.26	−0.121%	$62K	$339K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	745.90	+0.234%	$172K	$46K	30x	as long as short
Lighter METAlong	+0.0312%	1h	744.16	long leg	$1.0M	$2.6M	20x
Hotstuff META-PERP	+0.0360%	1h	744.14	−0.003%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0438%	1h	743.96	−0.027%	$74.7M	$124.8M	20x	as long as short
Phoenix META	+0.0685%	1h	744.15	−0.001%	$795K	$1.4M	20x	as long as short