Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.034%

Price spread now: Lighter against Bitget+0.099%7-day average +0.138% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$1021.020% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 4 days (all we have)+0.295%+$29 · spread now +0.099%, 7d avg +0.138%

Together, before fees+0.358%+ Points / potential airdropLighter: Season 3 · farm board+$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.039% cheaper against Bitget than usual: you would sell low and buy high (spread +0.099% now, against its 7-day average of +0.138%). If the spread goes back, that is −$4 on $10k: about 41 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.064% in total) that is about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget METUSDT	0.2827	0.0100	pay 0.0050% / 4h	1h 50m	$664K	$845K	25x
Short	Lighter MET	0.2830	0.0176	get 0.0022% / 1h	50m 40s	$261K	$244K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.099%Rate

Funding earned: $15.96
Price spread: +0.099% → +0.138%: −$3.93
Slippage, 4 orders: −$89.98
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$89.94
Costs to cover: 1.020%
Break-even: 46.4 days

Slippage from Bitget: live order book, 30 min ago; Lighter: live order book, 23 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 Bitget live order book, 30 min ago	8.81 bp	28.6 bp −$29	110.6 bp −$1,106	doesn't fit	doesn't fit
Sell Lighter live order book, 23 min ago	9.91 bp	12.3 bp −$12	155.8 bp −$1,558	doesn't fit	doesn't fit

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 −0.1601% / S +0.0234%	1h	0.2824	−0.112%	$9K	—	50x	as long as short
Phoenix MET	−0.0114%	1h	0.2834	+0.241%	$14K	$13K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2826	−0.028%	$4.3M	$1.2M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2824	−0.114%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2824	−0.106%	$4.9M	$11.1M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2823	−0.149%	$4.9M	$2.9M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2827	0.000%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2826	−0.035%	$193K	$187K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2824	−0.106%	$944K	$259K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2826	−0.035%	$1.3M	$2.4M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget METUSDTlong	+0.0100%	4h	0.2827	long leg	$664K	$845K	25x
ApeX Omni METUSDT	+0.0100%	1h	0.2818	−0.318%	$36K	$111K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2823	−0.141%	$1K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0147%	4h	0.2824	−0.106%	$288K	$78K	50x	as long as short
Lighter METshort	+0.0176%	1h	0.2830	+0.099%	$261K	$244K	5x
Backpack MET_USDC_PERP	+0.0714%	1h	0.2826	−0.053%	$330K	$251K	5x	as long as short