META

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0190%/8h= +20.8% APRnext payment +$0.24 per $10,000 · paid last 24h +0.036%

Price spread now: Lighter against QFEX+0.040%7-day average 0.000% · 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−$11as in the Price arb table

costs, in and out, $10k−$150.148% of the position

Long on QFEX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.063%+$6 on $10k

Price spread, last 7 days−0.030%−$3 · spread now +0.040%, 7d avg 0.000%

Together, before fees+0.033%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.041% dearer against QFEX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of 0.000%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.063% in total (about 6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.24 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	QFEX META-USD	745.14	0.0058	pay 0.0007% / 1h	44m 26s	$2.2M	$13.7M	10x
Short	Lighter META	745.44	0.0248	get 0.0031% / 1h	44m 26s	$864K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against QFEX. 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 QFEXbpFee LighterbpOrdersPrice spread, now +0.040%Rate

Funding earned: $39.98
Price spread: +0.040% → 0.000%: $4.06
Slippage, 4 orders: −$4.77
Fee QFEX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $29.27
Costs to cover: 0.148%
Break-even: 1.9 days

Slippage from QFEX: live order book, 10 min ago; Lighter: live order book, 7 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 QFEX live order book, 10 min ago	1.95 bp	6.9 bp −$7	7.3 bp −$73	19.1 bp −$1,907	doesn't fit
Sell Lighter live order book, 7 min ago	0.13 bp	0.2 bp $0	1.8 bp −$18	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	745.26	+0.016%	$329K	$1.1M	20x	as long as short
Nado META-PERP	−0.0019%	1h	744.81	−0.045%	$481K	$553K	20x	as long as short
Aster METAUSDT	0.0000%	8h	744.82	−0.043%	$469K	$554K	20x	as long as short
Extended META_24_5-USD	0.0000%	1h	745.11	−0.005%	$550K	$2.7M	17x	as long as short
Binance METAUSDT	0.0000%	8h	745.39	+0.034%	$28.4M	$182.9M	20x	as long as short
Bybit METAUSDT	0.0000%	8h	745.09	−0.007%	$7.5M	$14.5M	100x	as long as short
OKX META-USDT-SWAP	0.0000%	8h	745.08	−0.008%	$6.0M	$13.6M	20x	as long as short
Gate META_USDT	0.0000%	8h	744.51	−0.085%	$364K	$5.8M	100x	as long as short
Bitget METAUSDT	0.0000%	8h	745.30	+0.021%	$5.4M	$11.8M	100x	as long as short
Variational Omni META	0.0000%	8h	744.99	−0.020%	$2.4M	$3.2M	—	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	743.99	−0.154%	$12K	$450K	10x	as long as short
SunX META-USDT	0.0000%	8h	745.06	−0.011%	$781	$9.0M	20x	as long as short
Deribit META_USDC-PERPETUAL	0.0000%	1h	744.71	−0.058%	$31K	$246K	10x	as long as short
HTX META-USDT	0.0000%	8h	744.99	−0.020%	$106K	$302K	30x	as long as short
Phemex METAUSDT	0.0000%	4h	745.17	+0.004%	$2.0M	$8K	10x	as long as short
Lighter RH META	+0.0032%	1h	745.46	+0.043%	$782K	$2.9M	20x	as long as short
Arcus META-USD	+0.0040%	1h	744.55	−0.079%	$111K	$330K	10x	as long as short
Vest META-USD-PERP	+0.0046%	1h	745.47	+0.044%	—	$10K	25x	as long as short
Popdex METAUSDT	+0.0048%	1h	745.31	+0.023%	$179K	$199K	20x	as long as short
Polymarket Perps META-USD	+0.0050%	1h	745.08	−0.008%	$586K	$565K	10x	as long as short
SoDEX META-USD	+0.0050%	1h	745.07	−0.009%	$25K	$3K	10x	as long as short
Ondo Perps META-USD.P	+0.0050%	1h	744.20	−0.126%	$801K	$4.6M	10x	as long as short
QFEX META-USDlong	+0.0058%	1h	745.14	long leg	$2.2M	$13.7M	10x
Aftermath Perps METAUSD	+0.0084%	1h	745.19	+0.007%	$52K	$82K	10x	as long as short
Paradex META-USD-PERP	+0.0095%	8h	745.15	+0.001%	—	—	5x	as long as short
KuCoin METAUSDTM	+0.0100%	8h	744.97	−0.023%	$1.6M	$603K	20x	as long as short
ApeX Omni METAUSDT	+0.0100%	1h	744.16	−0.132%	$167K	$71K	50x	as long as short
Orderly PERP_META_USDC_mythos	+0.0100%	8h	745.25	+0.015%	$1K	$24	10x	as long as short
Aevo META-PERP	+0.0104%	1h	745.02	−0.017%	$268	—	10x	as long as short
Coinbase International META-PERP-INTX	+0.0128%	1h	744.02	−0.150%	$617K	$7.4M	10x	as long as short
Injective META/USDC PERP	+0.0220%	1h	744.08	−0.142%	$172K	$48K	30x	as long as short
Hotstuff META-PERP	+0.0232%	1h	745.33	+0.025%	$33K	$105	20x	as long as short
Lighter METAshort	+0.0248%	1h	745.44	+0.040%	$864K	$2.4M	20x
tradeXYZ xyz:META	+0.0336%	1h	745.42	+0.038%	$70.1M	$121.0M	20x	as long as short
Phoenix META	+0.0633%	1h	746.12	+0.132%	$768K	$1.4M	20x	as long as short
edgeX METAUSDC	+0.0979%	4h	744.81	−0.044%	$62K	$339K	10x	as long as short