MET

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0116%/8h= +12.7% APRnext payment +$0.15 per $10,000 · paid last 24h +0.034%

Price spread now: Lighter against Hyperliquid+0.153%7-day average +0.122% · 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−$104as in the Price arb table

costs, in and out, $10k−$1071.070% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now +0.153%, 7d avg +0.122%

Together, before fees+0.013%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Lighter is 0.031% dearer against Hyperliquid than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.122%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MET	0.2868	0.0100	pay 0.0013% / 1h	34m 52s	$4.3M	$1.3M	3x
Short	Lighter MET	0.2872	0.0216	get 0.0027% / 1h	34m 52s	$263K	$250K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Hyperliquid. 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 HyperliquidbpFee LighterbpOrdersPrice spread, now +0.153%Rate

Funding earned: $24.36
Price spread: +0.153% → +0.122%: $3.11
Slippage, 4 orders: −$98.04
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$79.57
Costs to cover: 1.070%
Break-even: 29.9 days

Slippage from Hyperliquid: live order book, 7 min ago; Lighter: live order book, 26 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 Hyperliquid live order book, 7 min ago	0.87 bp	16.9 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 26 min ago	11.17 bp	13.6 bp −$14	164.0 bp −$1,640	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 −0.1723% / S +0.0247%	1h	0.2864	−0.113%	$10K	—	50x	as long as short
Phoenix MET	−0.0112%	1h	0.2861	−0.216%	$15K	$13K	5x	as long as short
BloFin MET-USDT	+0.0050%	4h	0.2865	−0.087%	$299K	$83K	50x	as long as short
Hyperliquid METlong	+0.0100%	1h	0.2868	long leg	$4.3M	$1.3M	3x
Aster METUSDT	+0.0100%	4h	0.2866	−0.045%	$54K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2866	−0.054%	$5.1M	$11.6M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2865	−0.087%	$5.0M	$3.0M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2867	−0.017%	$1.3M	$3.5M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2863	−0.157%	$193K	$189K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2865	−0.087%	$1.0M	$278K	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	0.2866	−0.052%	$1.3M	$2.5M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2867	−0.017%	$690K	$868K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2862	−0.192%	$37K	$115K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2862	−0.192%	$1K	$1.6M	20x	as long as short
Lighter METshort	+0.0216%	1h	0.2872	+0.153%	$263K	$250K	5x
Backpack MET_USDC_PERP	+0.0739%	1h	0.2868	0.000%	$333K	$258K	5x	as long as short