Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.034%

Price spread now: Lighter against Gate+0.270%7-day average +0.174% · you sell dearer than you buy

Net, funding: paid 7d − costs−$136as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1381.379% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 4 days (all we have)+0.443%+$44 · spread now +0.270%, 7d avg +0.174%

Together, before fees+0.466%+ Points / potential airdropLighter: Season 3 · farm board+$47 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.096% dearer against Gate than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.174%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MET_USDT	0.2812	0.0100	pay 0.0050% / 4h	2h 38m	$192K	$194K	50x
Short	Lighter MET	0.2820	0.0096	get 0.0012% / 1h	38m 20s	$260K	$243K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.270%Rate

Funding earned: −$0.84
Price spread: +0.270% → +0.174%: $9.61
Slippage, 4 orders: −$122.94
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$129.17
Costs to cover: 1.379%
Break-even: never at this rate

Slippage from Gate: live order book, 45 min ago; Lighter: live order book, 44 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 Gate live order book, 45 min ago	7.07 bp	45.9 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 44 min ago	5.82 bp	7.9 bp −$8	147.9 bp −$1,479	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 −0.1054% / S +0.0177%	1h	0.2815	+0.121%	$9K	—	50x	as long as short
Phoenix MET	−0.0197%	1h	0.2826	+0.480%	$14K	$13K	5x	as long as short
BloFin MET-USDT	+0.0080%	4h	0.2812	0.000%	$289K	$80K	50x	as long as short
Lighter METshort	+0.0096%	1h	0.2820	+0.270%	$260K	$243K	5x
Hyperliquid MET	+0.0100%	1h	0.2814	+0.078%	$4.3M	$1.2M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2815	+0.091%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2813	+0.036%	$4.9M	$11.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2813	+0.036%	$4.9M	$2.8M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2818	+0.213%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDTlong	+0.0100%	4h	0.2812	long leg	$192K	$194K	50x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MET_USDT	+0.0100%	4h	0.2813	+0.036%	$926K	$259K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2813	+0.036%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2814	+0.071%	$661K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2818	+0.213%	$37K	$110K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2816	+0.142%	$2K	$1.6M	20x	as long as short
Backpack MET_USDC_PERP	+0.0314%	1h	0.2814	+0.057%	$329K	$252K	5x	as long as short