Funding arb · Price arb /

META

RWAall META markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: OKX against Lighter RH−0.043%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$240.239% of the position

Long on Lighter RH Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 7 days+0.151%+$15 · spread now −0.043%, 7d avg +0.016%

Together, before fees+0.081%+ Points / potential airdropLighter RH: Points live · farm board+$8 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 OKX is 0.059% 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 +0.016%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	744.24	0.0032	pay 0.0004% / 1h	38m 51s	$820K	$2.8M	20x
Short	OKX META-USDT-SWAP	743.92	0	get 0.0000% / 8h	6h 38m	$6.1M	$13.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$6.72
Price spread: −0.043% → +0.016%: −$5.92
Slippage, 4 orders: −$13.88
Fee Lighter RH: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$36.52
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	1.41 bp	3.5 bp −$3	9.9 bp −$99	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.34 bp	10.1 bp −$10	20.0 bp −$200	doesn't fit	doesn't fit

META on 37 exchanges

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	744.18	−0.008%	$338K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.47	+0.031%	$494K	$628K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	743.97	−0.037%	$544K	$3.3M	17x	as long as short
Binance METAUSDT	0.0000%	8h	744.15	−0.012%	$26.0M	$192.4M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	744.25	+0.001%	$7.7M	$15.9M	100x	as long as short
OKX META-USDT-SWAPshort	0.0000%	8h	743.92	−0.043%	$6.1M	$13.1M	20x
Gate META_USDT	0.0000%	8h	744.02	−0.030%	$455K	$6.4M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	743.96	−0.038%	$5.7M	$12.3M	100x	as long as short
Variational Omni META	0.0000%	8h	744.76	+0.071%	$2.5M	$3.0M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	745.05	+0.109%	$12K	$436K	10x	as long as short

Show all 37 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	745.13	+0.120%	$681	$7.5M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.56	+0.043%	$36K	$264K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.82	+0.078%	$108K	$300K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	744.67	+0.058%	$2.0M	$8K	10x	as long as short
Lighter RH METAlong	+0.0032%	1h	744.24	long leg	$820K	$2.8M	20x
Arcus META-USD	+0.0040%	1h	744.54	+0.040%	$111K	$314K	10x	as long as short
QFEX META-USD	+0.0041%	1h	744.88	+0.086%	$2.2M	$14.1M	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.19	+0.128%	—	$11K	25x	as long as short
Nado META-PERP	+0.0046%	1h	744.57	+0.044%	$478K	$558K	20x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.01	+0.103%	$179K	$201K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	744.84	+0.081%	$566K	$609K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	744.31	+0.009%	$24K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.14	−0.013%	$733K	$5.0M	10x	as long as short
Paradex META-USD-PERP	+0.0056%	8h	744.81	+0.077%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0078%	1h	745.75	+0.203%	$51K	$86K	10x	as long as short
Coinbase International META-PERP-INTX	+0.0096%	1h	743.93	−0.042%	$678K	$7.7M	10x	as long as short
Pacifica META	+0.0100%	1h	744.44	+0.026%	$628	$2K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.02	−0.030%	$1.6M	$818K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.18	−0.008%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	744.98	+0.099%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	744.37	+0.018%	$268	—	10x	as long as short
Hotstuff META-PERP	+0.0176%	1h	744.94	+0.094%	$33K	$105	20x	as long as short
Injective META/USDC PERP	+0.0220%	1h	746.19	+0.262%	$168K	$60K	30x	as long as short
Lighter META	+0.0280%	1h	744.37	+0.017%	$1.2M	$2.7M	20x	as long as short
tradeXYZ xyz:META	+0.0303%	1h	744.15	−0.012%	$86.5M	$134.7M	20x	as long as short
edgeX METAUSDC	+0.0588%	4h	744.83	+0.080%	$63K	$346K	10x	as long as short
Phoenix META	+0.0643%	1h	745.72	+0.199%	$796K	$1.5M	20x	as long as short