Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.036%

Price spread now: OKX against Lighter+0.112%7-day average −0.167% · you sell dearer than you buy

Net, funding: paid 7d − costs−$348as in the Funding arb table

Net, price: spread back to 7d avg − costs−$316as in the Price arb table

costs, in and out, $10k−$3433.435% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 4 days (all we have)−0.297%−$30 · spread now +0.112%, 7d avg −0.167%

Together, before fees−0.347%+ Points / potential airdropLighter: Season 3 · farm board−$35 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: OKX is 0.279% dearer against Lighter than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of −0.167%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MET	0.2775	0.0096	pay 0.0012% / 1h	46m 32s	$168K	$425K	5x
Short	OKX MET-USDT-SWAP	0.2778	0.0100	get 0.0050% / 4h	46m 32s	$1.2M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.112%Rate

Funding earned: $0.84
Price spread: +0.112% → −0.167%: $27.86
Slippage, 4 orders: −$333.46
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$314.76
Costs to cover: 3.435%
Break-even: 2630.0 days

Slippage from Lighter: live order book, 59 min ago; OKX: live order book, 1 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, 59 min ago	32.57 bp	132.4 bp −$132	220.4 bp −$2,204	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	7.20 bp	24.8 bp −$25	doesn't fit	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 −0.0498% / S +0.0175%	1h	0.2777	+0.091%	$4K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2774	−0.018%	$14K	$15K	5x	as long as short
Bybit METUSDT	+0.0026%	4h	0.2777	+0.076%	$4.8M	$3.2M	25x	as long as short
BloFin MET-USDT	+0.0071%	4h	0.2775	+0.004%	$284K	$89K	50x	as long as short
Lighter METlong	+0.0096%	1h	0.2775	long leg	$168K	$425K	5x
Hyperliquid MET	+0.0100%	1h	0.2779	+0.155%	$3.8M	$1.7M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2777	+0.076%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2777	+0.076%	$4.8M	$12.2M	50x	as long as short
OKX MET-USDT-SWAPshort	+0.0100%	4h	0.2778	+0.112%	$1.2M	$3.3M	20x
Gate MET_USDT	+0.0100%	4h	0.2776	+0.040%	$178K	$171K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MET_USDT	+0.0100%	4h	0.2777	+0.076%	$933K	$280K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2779	+0.148%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2780	+0.184%	$650K	$865K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2778	+0.105%	$315K	$310K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2772	−0.105%	$36K	$118K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2777	+0.076%	$2K	$1.6M	20x	as long as short