MET

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0247%/8h= −27.0% APRnext payment −$0.31 per $10,000 · paid last 24h −0.032%

Price spread now: Lighter against Backpack+0.103%7-day average +0.120% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$650.655% of the position

What this pair did over the last

the charts below follow

Funding, last 7 days−0.316%−$32 on $10k

Price spread, last 4 days (all we have)+0.533%+$53 · spread now +0.103%, 7d avg +0.120%

Together, before fees+0.218%+ Points / potential airdropLighter: Season 3 · farm board+$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.120%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MET_USDC_PERP	0.2824	0.0343	pay 0.0043% / 1h	40m 08s	$330K	$252K	5x
Short	Lighter MET	0.2827	0.0096	get 0.0012% / 1h	40m 08s	$261K	$243K	5x

Funding history

latest

Range statsloading…

Lighter against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Position, each leg$Hold fordaysFee BackpackbpFee LighterbpOrdersPrice spread, now +0.103%Rate

Slippage from Backpack: live order book, 48 min ago; Lighter: live order book, 42 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Backpack live order book, 48 min ago	2.29 bp	13.3 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 42 min ago	5.82 bp	7.9 bp −$8	147.9 bp −$1,479	doesn't fit	doesn't fit

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 −0.1030% / S +0.0174%	1h	0.2822	−0.070%	$9K	—	50x	as long as short
Phoenix MET	−0.0197%	1h	0.2826	+0.067%	$14K	$13K	5x	as long as short
BloFin MET-USDT	+0.0093%	4h	0.2820	−0.127%	$293K	$81K	50x	as long as short
Lighter METshort	+0.0096%	1h	0.2827	+0.103%	$261K	$243K	5x
Hyperliquid MET	+0.0100%	1h	0.2823	−0.034%	$4.3M	$1.2M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2825	+0.040%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2821	−0.084%	$4.9M	$11.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2820	−0.127%	$4.9M	$2.8M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2823	−0.021%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2820	−0.127%	$193K	$194K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MET_USDT	+0.0100%	4h	0.2822	−0.057%	$929K	$259K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2822	−0.057%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2822	−0.057%	$663K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2815	−0.305%	$37K	$110K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2821	−0.092%	$2K	$1.6M	20x	as long as short
Backpack MET_USDC_PERPlong	+0.0343%	1h	0.2824	long leg	$330K	$252K	5x