Funding you earn now, next payment 01:00 UTC−0.0388%/8h= −42.5% APRpaid last 24h −0.035%
Price spread now: Bybit against Lighter−0.262%7-day average −0.145% · you buy dearer than you sell
Net, funding: paid 7d − costs−$181as in the Funding arb table
Net, price: spread back to 7d avg − costs−$177as in the Price arb table
costs, in and out, $10k−$1661.655% of the position
Funding, last 7 days−0.159%−$16 on $10k
+Price spread, last 4 days (all we have)+0.199%+$20 · spread now −0.262%, 7d avg −0.145%
=Together, before fees+0.040%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Bybit is 0.117% cheaper against Lighter than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.145%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.159% in total (about -8.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter MET | 0.2859 | 0.0488 | pay 0.0061% / 1h | 29m 52s | $257K | $278K | 5x |
| Short | Bybit METUSDT | 0.2852 | 0.0100 | get 0.0050% / 4h | 3h 29m | $5.0M | $3.1M | 25x |
Lighter MET
Bybit METUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$81.48
- Price spread: −0.262% → −0.145%
- −$11.72
- Slippage, 4 orders
- −$154.52
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$258.72
- Costs to cover
- 1.655%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 26 min ago; Bybit: live order book, 3 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, 26 min ago | 8.06 bp | 68.0 bp −$68 | 221.0 bp −$2,210 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 3.51 bp | 45.7 bp −$46 | 176.1 bp −$1,761 | 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 | 0.2851 | −0.285% | $10K | — | 50x | as long as short |
| Hyperliquid MET | +0.0100% | 1h | 0.2855 | −0.157% | $4.2M | $1.4M | 3x | as long as short |
| Aster METUSDT | +0.0100% | 4h | 0.2854 | −0.176% | $54K | $11K | 5x | as long as short |
| Binance METUSDT | +0.0100% | 4h | 0.2854 | −0.192% | $5.0M | $11.8M | 50x | as long as short |
| Bybit METUSDTshort | +0.0100% | 4h | 0.2852 | −0.262% | $5.0M | $3.1M | 25x | |
| OKX MET-USDT-SWAP | +0.0100% | 4h | 0.2854 | −0.192% | $1.3M | $3.4M | 20x | as long as short |
| Gate MET_USDT | +0.0100% | 4h | 0.2852 | −0.262% | $193K | $185K | 50x | as long as short |
| MEXC MET_USDT | +0.0100% | 4h | 0.2853 | −0.227% | $1.0M | $279K | 20x | as long as short |
| KuCoin METUSDTM | +0.0100% | 4h | 0.2854 | −0.192% | $1.3M | $2.6M | 50x | as long as short |
| Bitget METUSDT | +0.0100% | 4h | 0.2855 | −0.157% | $684K | $871K | 25x | as long as short |
GMX MET/USD [WBTC.b-USDC]
Hyperliquid MET
Aster METUSDT
Binance METUSDT
OKX MET-USDT-SWAP
Gate MET_USDT
MEXC MET_USDT
KuCoin METUSDTM
Bitget METUSDTShow all 16 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| ApeX Omni METUSDT | +0.0100% | 1h | 0.2847 | −0.437% | $36K | $116K | 50x | as long as short |
| SunX MET-USDT | +0.0100% | 4h | 0.2852 | −0.262% | $2K | $1.6M | 20x | as long as short |
| BloFin MET-USDT | +0.0115% | 4h | 0.2852 | −0.262% | $294K | $88K | 50x | as long as short |
| Phoenix MET | +0.0197% | 1h | 0.2853 | −0.220% | $15K | $15K | 5x | as long as short |
| Lighter METlong | +0.0488% | 1h | 0.2859 | long leg | $257K | $278K | 5x | |
| Backpack MET_USDC_PERP | +0.0679% | 1h | 0.2855 | −0.157% | $333K | $264K | 5x | as long as short |
ApeX Omni METUSDT
SunX MET-USDT
BloFin MET-USDT
Phoenix MET
Backpack MET_USDC_PERP