Funding arb · Price arb /

META

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0016%/8h= +1.7% APRpaid last 24h —

Price spread now: Paradex against Lighter RH−0.047%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · Paradex: Active · farm boardneeds both histories

Funding pays, the price is against you. Paradex is 0.047% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.047% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 9.8 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH META	746.82	0.0040	pay 0.0005% / 1h	5m 55s	$797K	$3.1M	20x
Short	Paradex META-USD-PERP	746.47	0.0056	get 0.0056% / 8h	5m 55s	—	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.047%Rate

Funding earned: $3.34
Price spread: −0.047% → 0.000%: −$4.66
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$5.33
Costs to cover: 0.040%
Break-even: 18.2 days

Slippage unknown: Lighter RH: live order book, 2 min ago; Paradex: no order-book sample. Net counts fees only.

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	1.87 bp	2.6 bp −$3	4.9 bp −$49	46.5 bp −$4,652	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	746.81	−0.001%	$333K	$1.1M	20x	as long as short
Aster METAUSDT	0.0000%	8h	746.54	−0.038%	$480K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	746.40	−0.056%	$548K	$3.4M	17x	as long as short
Binance METAUSDT	0.0000%	8h	746.58	−0.032%	$25.4M	$189.7M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	746.80	−0.003%	$7.5M	$15.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	746.65	−0.023%	$6.0M	$12.8M	20x	as long as short
Gate META_USDT	0.0000%	8h	746.25	−0.076%	$473K	$6.3M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	746.53	−0.039%	$5.7M	$12.4M	100x	as long as short
Variational Omni META	0.0000%	8h	747.21	+0.052%	$2.5M	$3.2M	—	as long as short
GRVT META_USDT_Perp	0.0000%	8h	747.23	+0.055%	$12K	$439K	10x	as long as short

Show all 37 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX META-USDT	0.0000%	8h	746.58	−0.032%	$1K	$8.0M	20x	as long as short
HTX META-USDT	0.0000%	8h	746.28	−0.072%	$108K	$312K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	747.25	+0.058%	$2.0M	$8K	10x	as long as short
Nado META-PERP	+0.0015%	1h	746.02	−0.107%	$481K	$561K	20x	as long as short
QFEX META-USD	+0.0031%	1h	746.53	−0.039%	$2.2M	$14.1M	10x	as long as short
Lighter RH METAlong	+0.0040%	1h	746.82	long leg	$797K	$3.1M	20x
Arcus META-USD	+0.0040%	1h	746.60	−0.029%	$112K	$338K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	747.11	+0.039%	—	$12K	25x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	746.28	−0.072%	$568K	$621K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	746.53	−0.039%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	746.25	−0.076%	$734K	$5.1M	10x	as long as short
Paradex META-USD-PERPshort	+0.0056%	8h	746.47	−0.047%	—	—	5x
Deribit META_USDC-PERPETUAL	+0.0058%	1h	746.16	−0.088%	$34K	$276K	10x	as long as short
Popdex METAUSDT	+0.0072%	1h	746.59	−0.031%	$178K	$202K	20x	as long as short
Aftermath Perps METAUSD	+0.0087%	1h	747.44	+0.084%	$49K	$91K	10x	as long as short
Pacifica META	+0.0100%	1h	746.78	−0.005%	$633	$1K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	746.82	0.000%	$1.6M	$728K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	746.55	−0.036%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	746.65	−0.023%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	746.51	−0.041%	$269	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	746.79	−0.004%	$651K	$8.0M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	749.54	+0.364%	$177K	$51K	30x	as long as short
Lighter META	+0.0448%	1h	746.95	+0.017%	$1.1M	$2.9M	20x	as long as short
Hotstuff META-PERP	+0.0464%	1h	747.03	+0.028%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0564%	1h	747.05	+0.031%	$83.6M	$131.7M	20x	as long as short
Phoenix META	+0.0750%	1h	747.82	+0.134%	$798K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0931%	4h	747.28	+0.061%	$62K	$344K	10x	as long as short