Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0090%/8hnext payment +$0.11 per $10,000 · paid last 24h +0.001%

Price spread now: Deribit against Lighter RH+0.066%7-day average −0.068% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$220.223% of the position

Long on Lighter RH Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.027%−$3 on $10k

Price spread, last 3 days (all we have)−0.040%−$4 · spread now +0.066%, 7d avg −0.068%

Together, before fees−0.068%+ Points / potential airdropLighter RH: Points live · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.134% dearer against Lighter RH than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	752.34	0.0032	pay 0.0004% / 1h	23m 36s	$743K	$3.2M	20x
Short	Deribit META_USDC-PERPETUAL	752.84	0.0122	get 0.0015% / 1h	23m 36s	$29K	$259K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.066%Rate

Funding earned: $18.91
Price spread: +0.066% → −0.068%: $13.43
Slippage, 4 orders: −$15.32
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $10.03
Costs to cover: 0.223%
Break-even: 3.3 days

Slippage from Lighter RH: live order book, 4 min ago; Deribit: live order book, 9 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	2.47 bp	2.5 bp −$2	6.0 bp −$60	38.0 bp −$3,799	doesn't fit
Sell Deribit live order book, 9 min ago	0.07 bp	12.1 bp −$12	13.4 bp −$134	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
Hotstuff META-PERP	−0.0144%	1h	752.11	−0.031%	$34K	$105	20x	as long as short
BloFin META-USDT	−0.0120%	8h	749.99	−0.312%	$337K	$1.0M	20x	as long as short
Phoenix META	−0.0021%	1h	746.59	−0.764%	$315K	$622K	20x	as long as short
Nado META-PERP	−0.0009%	1h	752.30	−0.005%	$403K	$227K	20x	as long as short
Aster METAUSDT	0.0000%	8h	752.66	+0.042%	$463K	$449K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	752.00	−0.045%	$561K	$1.5M	17x	as long as short
Binance METAUSDT	0.0000%	8h	751.69	−0.086%	$28.2M	$163.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	751.43	−0.121%	$8.1M	$12.7M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	751.24	−0.146%	$6.1M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	751.89	−0.060%	$338K	$5.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget METAUSDT	0.0000%	8h	751.14	−0.160%	$6.0M	$9.7M	100x	as long as short
Variational Omni META	0.0000%	8h	749.56	−0.370%	$1.6M	$2.3M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	750.02	−0.309%	$13K	$528K	10x	as long as short
SunX META-USDT	0.0000%	8h	753.20	+0.114%	$1K	$9.4M	20x	as long as short
HTX META-USDT	0.0000%	8h	752.54	+0.027%	$107K	$283K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	752.90	+0.074%	$2.0M	$7K	10x	as long as short
QFEX META-USD	+0.0012%	1h	751.90	−0.058%	$2.3M	$13.4M	10x	as long as short
Lighter META	+0.0032%	1h	752.22	−0.016%	$878K	$2.5M	20x	as long as short
Lighter RH METAlong	+0.0032%	1h	752.34	long leg	$743K	$3.2M	20x
Vest META-USD-PERP	+0.0046%	1h	752.00	−0.045%	—	$9K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	752.31	−0.004%	$176K	$194K	20x	as long as short
Coinbase International META-PERP-INTX	+0.0048%	1h	752.41	+0.009%	$649K	$6.8M	10x	as long as short
tradeXYZ xyz:META	+0.0050%	1h	752.11	−0.031%	$72.2M	$110.9M	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	751.64	−0.093%	$547K	$836K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	752.92	+0.077%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	751.90	−0.058%	$689K	$3.8M	10x	as long as short
Paradex META-USD-PERP	+0.0051%	8h	752.05	−0.038%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	751.83	−0.068%	$1.6M	$300K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	749.92	−0.322%	$168K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	753.10	+0.101%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	752.96	+0.083%	$271	—	10x	as long as short
Deribit META_USDC-PERPETUALshort	+0.0122%	1h	752.84	+0.066%	$29K	$259K	10x
Arcus META-USD	+0.0128%	1h	751.02	−0.175%	$267K	$311K	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.29	−0.405%	$170K	$42K	30x	as long as short
Aftermath Perps METAUSD	+0.0332%	1h	748.43	−0.519%	$42K	$49K	10x	as long as short
edgeX METAUSDC	+0.0728%	4h	749.99	−0.313%	$63K	$328K	10x	as long as short