MET

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.036%

Price spread now: Lighter against Hyperliquid−0.039%7-day average +0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$341as in the Funding arb table

Net, price: spread back to 7d avg − costs−$368as in the Price arb table

costs, in and out, $10k−$3523.520% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.039%, 7d avg +0.117%

Together, before fees+0.183%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$18 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 0.156% cheaper against Hyperliquid than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.117%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MET	0.2793	0.0100	pay 0.0013% / 1h	50m 03s	$3.8M	$1.7M	3x
Short	Lighter MET	0.2792	0.0096	get 0.0012% / 1h	50m 03s	$169K	$423K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Hyperliquid. 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 HyperliquidbpFee LighterbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$0.84
Price spread: −0.039% → +0.117%: −$15.6
Slippage, 4 orders: −$342.97
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$368.41
Costs to cover: 3.520%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 1 min ago; Lighter: live order book, 50 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 Hyperliquid live order book, 1 min ago	1.07 bp	18.0 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 50 min ago	31.66 bp	152.4 bp −$152	224.2 bp −$2,242	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	0.2791	−0.046%	$4K	—	50x	as long as short
Phoenix MET	−0.0029%	1h	0.2795	+0.082%	$14K	$15K	5x	as long as short
Lighter METshort	+0.0096%	1h	0.2792	−0.039%	$169K	$423K	5x
Hyperliquid METlong	+0.0100%	1h	0.2793	long leg	$3.8M	$1.7M	3x
Aster METUSDT	+0.0100%	4h	0.2794	+0.039%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2790	−0.093%	$4.8M	$12.1M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2793	0.000%	$4.8M	$3.1M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2794	+0.050%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2792	−0.021%	$178K	$167K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2791	−0.057%	$938K	$279K	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	0.2793	+0.014%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2796	+0.122%	$661K	$858K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2798	+0.193%	$36K	$118K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2790	−0.093%	$1K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0123%	4h	0.2794	+0.050%	$284K	$90K	50x	as long as short
Backpack MET_USDC_PERP	+0.0608%	1h	0.2793	+0.029%	$318K	$307K	5x	as long as short