META

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0342%/8h= +37.4% APRnext payment +$0.43 per $10,000 · paid last 24h +0.023%

Price spread now: Lighter against Polymarket Perps+0.126%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

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

costs, in and out, $10k−$180.179% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 7 days−0.060%−$6 · spread now +0.126%, 7d avg +0.035%

Together, before fees−0.044%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Lighter is 0.091% dearer against Polymarket Perps than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.035%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.015% in total (about 0.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.43 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	Polymarket Perps META-USD	744.96	0.0050	pay 0.0006% / 1h	42m 17s	$586K	$564K	10x
Short	Lighter META	745.90	0.0392	get 0.0049% / 1h	42m 17s	$1.1M	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now +0.126%Rate

Funding earned: $71.82
Price spread: +0.126% → +0.035%: $9.13
Slippage, 4 orders: −$9.93
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $63.02
Costs to cover: 0.179%
Break-even: 0.9 days

Slippage from Polymarket Perps: live order book, 65 min ago; Lighter: 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 Polymarket Perps live order book, 65 min ago	3.29 bp	8.6 bp −$9	8.8 bp −$88	9.9 bp −$989	doesn't fit
Sell Lighter live order book, 5 min ago	0.60 bp	1.1 bp −$1	2.7 bp −$27	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	745.38	+0.056%	$334K	$1.1M	20x	as long as short
Nado META-PERP	−0.0023%	1h	745.00	+0.006%	$482K	$559K	20x	as long as short
Aster METAUSDT	0.0000%	8h	745.56	+0.081%	$479K	$593K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.20	+0.032%	$552K	$2.6M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.38	+0.056%	$25.3M	$187.6M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.22	+0.035%	$7.3M	$15.2M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.40	+0.059%	$6.1M	$12.7M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.86	−0.013%	$458K	$6.1M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.34	+0.051%	$5.5M	$12.2M	100x	as long as short
Variational Omni META	0.0000%	8h	745.37	+0.056%	$2.4M	$3.3M	—	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT META_USDT_Perp	0.0000%	8h	745.59	+0.085%	$13K	$438K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.21	+0.034%	$624	$8.2M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	745.02	+0.008%	$34K	$274K	10x	as long as short
HTX META-USDT	0.0000%	8h	745.20	+0.032%	$106K	$307K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.95	+0.133%	$2.0M	$8K	10x	as long as short
QFEX META-USD	+0.0031%	1h	745.16	+0.027%	$2.2M	$13.9M	10x	as long as short
Lighter RH META	+0.0040%	1h	745.69	+0.098%	$787K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	745.01	+0.007%	$109K	$333K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.65	+0.093%	—	$12K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.38	+0.056%	$177K	$205K	20x	as long as short
Polymarket Perps META-USDlong	+0.0050%	1h	744.96	long leg	$586K	$564K	10x
SoDEX META-USD	+0.0050%	1h	745.34	+0.051%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.94	−0.003%	$711K	$5.2M	10x	as long as short
Paradex META-USD-PERP	+0.0064%	8h	745.24	+0.037%	—	—	5x	as long as short
Aftermath Perps METAUSD	+0.0086%	1h	746.39	+0.191%	$52K	$81K	10x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	745.46	+0.067%	$1.6M	$672K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.66	−0.040%	$167K	$72K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.42	+0.062%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.21	+0.033%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0104%	1h	745.43	+0.063%	$650K	$7.9M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	748.64	+0.494%	$173K	$46K	30x	as long as short
Lighter METAshort	+0.0392%	1h	745.90	+0.126%	$1.1M	$2.7M	20x
Hotstuff META-PERP	+0.0408%	1h	745.69	+0.098%	$33K	$105	20x	as long as short
tradeXYZ xyz:META	+0.0538%	1h	745.71	+0.101%	$77.0M	$127.2M	20x	as long as short
Phoenix META	+0.0739%	1h	746.48	+0.204%	$797K	$1.5M	20x	as long as short
edgeX METAUSDC	+0.0795%	4h	745.37	+0.055%	$62K	$345K	10x	as long as short