Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.036%

Price spread now: Lighter against MEXC−0.129%7-day average +0.181% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$122as in the Price arb table

costs, in and out, $10k−$910.910% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.099%+$10 on $10k

Price spread, last 4 days (all we have)+0.424%+$42 · spread now −0.129%, 7d avg +0.181%

Together, before fees+0.522%+ Points / potential airdropLighter: Season 3 · farm board+$52 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: Lighter is 0.309% cheaper against MEXC than usual: you would sell low and buy high, −$31 on $10k if it goes back to its 7-day average of +0.181%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MET_USDT	0.2795	0.0100	pay 0.0050% / 4h	2h 24m	$928K	$285K	20x
Short	Lighter MET	0.2791	0.0096	get 0.0012% / 1h	24m 16s	$168K	$420K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now −0.129%Rate

Funding earned: −$0.84
Price spread: −0.129% → +0.181%: −$30.94
Slippage, 4 orders: −$87.01
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$122.79
Costs to cover: 0.910%
Break-even: never at this rate

Slippage from MEXC: live order book, 47 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 MEXC live order book, 47 min ago	3.51 bp	13.8 bp −$14	45.7 bp −$457	198.2 bp −$19.8K	653.7 bp −$326.8K
Sell Lighter live order book, 26 min ago	6.94 bp	9.4 bp −$9	177.4 bp −$1,774	doesn't fit	doesn't fit

MET on 15 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 −0.1415% / S +0.0215%	1h	0.2796	+0.024%	$9K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2785	−0.354%	$14K	$15K	5x	as long as short
Bybit METUSDT	+0.0062%	4h	0.2795	−0.007%	$4.9M	$3.1M	25x	as long as short
Lighter METshort	+0.0096%	1h	0.2791	−0.129%	$168K	$420K	5x
Hyperliquid MET	+0.0100%	1h	0.2795	+0.004%	$3.9M	$1.7M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2796	+0.047%	$53K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2795	0.000%	$4.8M	$12.1M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2797	+0.072%	$1.2M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2801	+0.215%	$181K	$182K	50x	as long as short
MEXC MET_USDTlong	+0.0100%	4h	0.2795	long leg	$928K	$285K	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2797	+0.072%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2798	+0.107%	$654K	$894K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2805	+0.358%	$318K	$282K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2783	−0.429%	$36K	$117K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2795	0.000%	$2K	$1.6M	20x	as long as short