Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.034%

Price spread now: Aster against Lighter−0.335%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Aster

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 airdropLighter: Season 3 · Aster: Stage 5 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Aster is 0.335% cheaper against Lighter than usual: you would sell low and buy high (−$34 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MET	0.2860	0.0232	pay 0.0029% / 1h	24m 29s	$262K	$250K	5x
Short	Aster METUSDT	0.2850	0.0100	get 0.0050% / 4h	24m 29s	$54K	$11K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.335%Rate

Funding earned: −$27.72
Price spread: −0.335% → 0.000%: −$33.51
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$69.23
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 36 min ago; Aster: no order-book sample. 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, 36 min ago	11.17 bp	61.9 bp −$62	214.9 bp −$2,149	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: 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 −0.1723% / S +0.0247%	1h	0.2853	−0.243%	$10K	—	50x	as long as short
Phoenix MET	−0.0112%	1h	0.2860	+0.007%	$15K	$13K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2853	−0.254%	$4.3M	$1.3M	3x	as long as short
Aster METUSDTshort	+0.0100%	4h	0.2850	−0.335%	$54K	$11K	5x
Binance METUSDT	+0.0100%	4h	0.2850	−0.343%	$5.1M	$11.6M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2848	−0.413%	$4.9M	$3.0M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2850	−0.343%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2852	−0.273%	$194K	$190K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2852	−0.273%	$1.0M	$279K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2852	−0.273%	$1.3M	$2.5M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget METUSDT	+0.0100%	4h	0.2850	−0.343%	$686K	$871K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2859	−0.028%	$37K	$115K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2850	−0.343%	$1K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0143%	4h	0.2854	−0.203%	$298K	$83K	50x	as long as short
Lighter METlong	+0.0232%	1h	0.2860	long leg	$262K	$250K	5x
Backpack MET_USDC_PERP	+0.0556%	1h	0.2855	−0.164%	$332K	$258K	5x	as long as short