MET

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0159%/8h= +17.4% APRnext payment +$0.20 per $10,000 · paid last 24h +0.113%

Price spread now: Hyperliquid against Phoenix−0.044%61s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Hyperliquid

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

Funding pays, the price is against you. Hyperliquid is 0.044% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.044% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 22 hours of funding at the current rate (+$5 a day). The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MET	0.2707	−0.0059	get 0.0007% / 1h	24m 19s	$13K	$14K	5x
Short	Hyperliquid MET	0.2706	0.0100	get 0.0013% / 1h	24m 19s	$3.6M	$1.9M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Phoenix. 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 PhoenixbpFee HyperliquidbpOrdersPrice spread, now −0.044%Rate

Funding earned: $33.36
Price spread: −0.044% → 0.000%: −$4.4
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $12.97
Costs to cover: 0.160%
Break-even: 4.3 days

Slippage unknown: Phoenix: no order-book sample; Hyperliquid: live order book, 7 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 Phoenix no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 7 min ago	1.29 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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 −0.0738% / S +0.0214%	1h	0.2707	−0.026%	$4K	—	50x	as long as short
Phoenix METlong	−0.0059%	1h	0.2707	long leg	$13K	$14K	5x
BloFin MET-USDT	+0.0051%	4h	0.2707	−0.018%	$270K	$89K	50x	as long as short
Lighter MET	+0.0096%	1h	0.2716	+0.325%	$164K	$437K	5x	as long as short
Hyperliquid METshort	+0.0100%	1h	0.2706	−0.044%	$3.6M	$1.9M	3x
Aster METUSDT	+0.0100%	4h	0.2707	−0.031%	$51K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2705	−0.095%	$4.5M	$12.8M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2704	−0.129%	$4.6M	$3.3M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2708	+0.018%	$1.1M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2706	−0.055%	$170K	$190K	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	0.2705	−0.092%	$804K	$287K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2707	−0.018%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2708	+0.018%	$672K	$963K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2707	−0.015%	$309K	$254K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2705	−0.092%	$33K	$119K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2705	−0.092%	$2K	$1.6M	20x	as long as short