Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.012%

Price spread now: Aster against Lighter RH−0.002%7-day average +0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$700.700% of the position

Long on Lighter RH Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 4 days (all we have)+0.021%+$2 · spread now −0.002%, 7d avg +0.060%

Together, before fees−0.056%+ Points / potential airdropLighter RH: Points live · Aster: Stage 5 · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.062% cheaper against Lighter RH than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.060%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	745.22	0.0032	pay 0.0004% / 1h	14m 26s	$855K	$3.0M	20x
Short	Aster METAUSDT	745.20	0	get 0.0000% / 8h	1h 14m	$479K	$593K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter RH. 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 Lighter RHbpFee AsterbpOrdersPrice spread, now −0.002%Rate

Funding earned: −$6.72
Price spread: −0.002% → +0.060%: −$6.21
Slippage, 4 orders: −$62.03
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$82.96
Costs to cover: 0.700%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; Aster: live order book, 28 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 RH live order book, 4 min ago	1.34 bp	1.7 bp −$2	3.1 bp −$31	44.0 bp −$4,395	doesn't fit
Sell Aster live order book, 28 min ago	13.27 bp	18.4 bp −$18	120.8 bp −$1,208	doesn't fit	doesn't fit

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	744.93	−0.039%	$332K	$1.1M	20x	as long as short
Nado META-PERP	−0.0040%	1h	744.58	−0.086%	$480K	$559K	20x	as long as short
Aster METAUSDTshort	0.0000%	8h	745.20	−0.002%	$479K	$593K	20x
Extended META_24_5-USD	0.0000%	1h	744.60	−0.083%	$548K	$1.8M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.81	−0.055%	$24.9M	$188.0M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.70	−0.070%	$7.3M	$15.3M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.01	−0.028%	$6.0M	$12.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.40	−0.110%	$463K	$6.2M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	744.97	−0.034%	$5.5M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	744.70	−0.069%	$2.4M	$3.3M	—	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	744.86	−0.049%	$13K	$440K	10x	as long as short
SunX META-USDT	0.0000%	8h	744.70	−0.070%	$961	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.37	−0.114%	$34K	$275K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.90	−0.043%	$106K	$308K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.93	−0.039%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	744.58	−0.086%	$2.2M	$13.8M	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	745.22	long leg	$855K	$3.0M	20x
Arcus META-USD	+0.0040%	1h	744.66	−0.075%	$112K	$339K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.18	−0.005%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	744.81	−0.055%	$177K	$205K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.45	−0.103%	$578K	$572K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.83	−0.052%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.35	−0.117%	$685K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0058%	8h	744.70	−0.070%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	745.89	+0.090%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.90	−0.043%	$1.6M	$689K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.42	−0.107%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.76	−0.062%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.59	−0.085%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	744.73	−0.066%	$650K	$7.9M	10x	as long as short
edgeX METAUSDC	+0.0133%	4h	744.79	−0.058%	$62K	$345K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	747.34	+0.284%	$172K	$46K	30x	as long as short
Lighter META	+0.0360%	1h	745.38	+0.021%	$1.1M	$2.7M	20x	as long as short
Hotstuff META-PERP	+0.0368%	1h	745.29	+0.009%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0488%	1h	745.29	+0.009%	$78.1M	$127.8M	20x	as long as short
Phoenix META	+0.0739%	1h	746.42	+0.161%	$797K	$1.5M	20x	as long as short
Pacifica META	+0.0800%	1h	744.96	−0.035%	$16	$103	10x	as long as short