Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.036%

Price spread now: Bitget against Lighter0.000%7-day average −0.137% · you sell dearer than you buy

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$1151.146% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 4 days (all we have)−0.223%−$22 · spread now 0.000%, 7d avg −0.137%

Together, before fees−0.289%+ Points / potential airdropLighter: Season 3 · farm board−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.137% dearer against Lighter than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.137%): +$14 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.0 days. At the pace of the last 7 days (−0.066% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MET	0.2802	0.0176	pay 0.0022% / 1h	47m 31s	$230K	$305K	5x
Short	Bitget METUSDT	0.2802	0.0100	get 0.0050% / 4h	2h 47m	$655K	$884K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$15.96
Price spread: 0.000% → −0.137%: $13.73
Slippage, 4 orders: −$102.63
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$116.85
Costs to cover: 1.146%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Bitget: live order book, 18 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 Lighter live order book, 3 min ago	6.94 bp	58.4 bp −$58	211.3 bp −$2,113	doesn't fit	doesn't fit
Sell Bitget live order book, 18 min ago	3.53 bp	29.4 bp −$29	101.5 bp −$1,015	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 −0.1723% / S +0.0247%	1h	0.2799	−0.096%	$9K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2809	+0.253%	$14K	$15K	5x	as long as short
BloFin MET-USDT	+0.0069%	4h	0.2803	+0.036%	$289K	$89K	50x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2803	+0.032%	$3.9M	$1.6M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2803	+0.050%	$53K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2799	−0.107%	$4.8M	$12.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2801	−0.039%	$4.9M	$3.1M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2800	−0.071%	$1.2M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2803	+0.036%	$181K	$178K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2802	0.000%	$970K	$278K	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	0.2802	0.000%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDTshort	+0.0100%	4h	0.2802	0.000%	$655K	$884K	25x
Backpack MET_USDC_PERP	+0.0100%	1h	0.2803	+0.029%	$319K	$277K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2804	+0.071%	$36K	$117K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2802	0.000%	$1K	$1.6M	20x	as long as short
Lighter METlong	+0.0176%	1h	0.2802	long leg	$230K	$305K	5x