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: SunX against Lighter−0.169%7-day average −0.138% · you buy dearer than you sell

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

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 3 days (all we have)+0.978%+$98 · spread now −0.169%, 7d avg −0.138%

Together, before fees+0.971%+ Points / potential airdropLighter: Season 3 · farm board+$97 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: SunX is 0.031% cheaper against Lighter than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.138%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MET	0.2837	0.0096	pay 0.0012% / 1h	25m 26s	$262K	$243K	5x
Short	SunX MET-USDT	0.2832	0.0100	get 0.0050% / 4h	2h 25m	$2K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.169%Rate

Funding earned: $0.84
Price spread: −0.169% → −0.138%: −$3.1
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$10.26
Costs to cover: 0.080%
Break-even: 92.5 days

Slippage unknown: Lighter: live order book, 57 min ago; SunX: live order book, 9 min ago. 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 Lighter live order book, 57 min ago	5.82 bp	31.9 bp −$32	203.7 bp −$2,037	doesn't fit	doesn't fit
Sell SunX live order book, 9 min ago	502.58 bp	doesn't fit	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 −0.1204% / S +0.0193%	1h	0.2834	−0.116%	$9K	—	50x	as long as short
Phoenix MET	−0.0197%	1h	0.2830	−0.229%	$14K	$13K	5x	as long as short
Lighter METlong	+0.0096%	1h	0.2837	long leg	$262K	$243K	5x
Hyperliquid MET	+0.0100%	1h	0.2835	−0.079%	$4.3M	$1.2M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2831	−0.193%	$53K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2832	−0.169%	$5.0M	$11.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2830	−0.243%	$4.9M	$2.8M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2832	−0.169%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2830	−0.240%	$193K	$194K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2832	−0.169%	$932K	$260K	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	0.2829	−0.275%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2832	−0.169%	$665K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2822	−0.522%	$37K	$110K	50x	as long as short
SunX MET-USDTshort	+0.0100%	4h	0.2832	−0.169%	$2K	$1.6M	20x
BloFin MET-USDT	+0.0103%	4h	0.2816	−0.733%	$291K	$81K	50x	as long as short
Backpack MET_USDC_PERP	+0.0114%	1h	0.2834	−0.109%	$331K	$252K	5x	as long as short