Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.036%

Price spread now: Lighter against Aster−0.148%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.148% cheaper against Aster than usual: you would sell low and buy high, −$15 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster METUSDT	0.2737	0.0100	pay 0.0050% / 4h	2h 41m	$51K	$11K	5x
Short	Lighter MET	0.2733	0.0096	get 0.0012% / 1h	41m 43s	$167K	$423K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.148%Rate

Funding earned: −$0.84
Price spread: −0.148% → 0.000%: −$14.81
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$23.65
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Lighter: live order book, 54 min ago. 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 Aster no order-book sample	—	—	—	—	—
Sell Lighter live order book, 54 min ago	49.09 bp	117.3 bp −$117	192.8 bp −$1,928	doesn't fit	doesn't fit

Aster: 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.

MET on 16 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
GMX MET/USD [WBTC.b-USDC]	L −0.0685% / S +0.0201%	1h	0.2734	−0.113%	$4K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2742	+0.184%	$13K	$14K	5x	as long as short
Lighter METshort	+0.0096%	1h	0.2733	−0.148%	$167K	$423K	5x
Hyperliquid MET	+0.0100%	1h	0.2735	−0.082%	$3.6M	$1.8M	3x	as long as short
Aster METUSDTlong	+0.0100%	4h	0.2737	long leg	$51K	$11K	5x
Binance METUSDT	+0.0100%	4h	0.2735	−0.090%	$4.6M	$12.3M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2734	−0.126%	$4.7M	$3.2M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2735	−0.090%	$1.2M	$3.2M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2736	−0.053%	$178K	$184K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2734	−0.126%	$913K	$279K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2736	−0.053%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2736	−0.053%	$675K	$911K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2737	−0.028%	$308K	$278K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2736	−0.053%	$34K	$119K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2735	−0.090%	$1K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0101%	4h	0.2738	+0.020%	$279K	$93K	50x	as long as short