MET

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0297%/8h= −32.5% APRnext payment −$0.37 per $10,000 · paid last 24h −0.177%

Price spread now: Phoenix against Hyperliquid−0.156%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Phoenix is 0.156% cheaper against Hyperliquid than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MET	0.2820	0.0100	pay 0.0013% / 1h	56m 54s	$4.3M	$1.3M	3x
Short	Phoenix MET	0.2816	−0.0197	pay 0.0025% / 1h	56m 54s	$14K	$13K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.156%Rate

Funding earned: −$62.29
Price spread: −0.156% → 0.000%: −$15.6
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$93.89
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 5 min ago; Phoenix: no order-book sample. 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 Hyperliquid live order book, 5 min ago	0.71 bp	14.4 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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 −0.1531% / S +0.0227%	1h	0.2816	−0.141%	$9K	—	50x	as long as short
Phoenix METshort	−0.0197%	1h	0.2816	−0.156%	$14K	$13K	5x
BloFin MET-USDT	+0.0086%	4h	0.2810	−0.351%	$290K	$78K	50x	as long as short
Hyperliquid METlong	+0.0100%	1h	0.2820	long leg	$4.3M	$1.3M	3x
Aster METUSDT	+0.0100%	4h	0.2820	−0.001%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2822	+0.074%	$4.9M	$11.1M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2819	−0.018%	$4.9M	$2.9M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2822	+0.074%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2818	−0.067%	$192K	$187K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2821	+0.039%	$929K	$257K	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	0.2818	−0.067%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2820	+0.004%	$662K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2803	−0.599%	$37K	$110K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2812	−0.280%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0368%	1h	0.2819	−0.025%	$260K	$244K	5x	as long as short
Backpack MET_USDC_PERP	+0.0370%	1h	0.2821	+0.035%	$330K	$251K	5x	as long as short