Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.034%

Price spread now: MEXC against Lighter−0.102%7-day average −0.182% · you buy dearer than you sell

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$920.923% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 4 days (all we have)−0.280%−$28 · spread now −0.102%, 7d avg −0.182%

Together, before fees−0.378%+ Points / potential airdropLighter: Season 3 · farm board−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.080% dearer against Lighter than usual: you sell high and buy low (spread −0.102% now, against its 7-day average of −0.182%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MET	0.2845	0.0128	pay 0.0016% / 1h	58m 26s	$248K	$268K	5x
Short	MEXC MET_USDT	0.2842	0.0100	get 0.0050% / 4h	3h 58m	$1.0M	$276K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Lighter. 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 LighterbpFee MEXCbpOrdersPrice spread, now −0.102%Rate

Funding earned: −$5.88
Price spread: −0.102% → −0.182%: $7.98
Slippage, 4 orders: −$88.34
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$90.24
Costs to cover: 0.923%
Break-even: never at this rate

Slippage from Lighter: live order book, 62 min ago; MEXC: live order book, 3 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 Lighter live order book, 62 min ago	11.17 bp	61.9 bp −$62	214.9 bp −$2,149	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.75 bp	8.8 bp −$9	26.1 bp −$261	206.9 bp −$20.7K	598.6 bp −$299.3K

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	0.2840	−0.159%	$10K	—	50x	as long as short
Phoenix MET	−0.0112%	1h	0.2846	+0.032%	$15K	$13K	5x	as long as short
BloFin MET-USDT	+0.0073%	4h	0.2843	−0.067%	$294K	$83K	50x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2840	−0.158%	$4.2M	$1.4M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2842	−0.088%	$54K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2842	−0.107%	$5.0M	$11.8M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2840	−0.158%	$4.9M	$3.1M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2840	−0.172%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2841	−0.137%	$193K	$185K	50x	as long as short
MEXC MET_USDTshort	+0.0100%	4h	0.2842	−0.102%	$1.0M	$276K	20x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2843	−0.067%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2844	−0.032%	$681K	$877K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2843	−0.067%	$36K	$116K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2840	−0.172%	$2K	$1.6M	20x	as long as short
Lighter METlong	+0.0128%	1h	0.2845	long leg	$248K	$268K	5x
Backpack MET_USDC_PERP	+0.0260%	1h	0.2841	−0.130%	$331K	$262K	5x	as long as short