Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.036%

Price spread now: Lighter against MEXC+0.029%7-day average +0.178% · you sell dearer than you buy

Net, funding: paid 7d − costs−$307as in the Funding arb table

Net, price: spread back to 7d avg − costs−$332as in the Price arb table

costs, in and out, $10k−$3173.171% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.099%+$10 on $10k

Price spread, last 4 days (all we have)+1.204%+$120 · spread now +0.029%, 7d avg +0.178%

Together, before fees+1.303%+ Points / potential airdropLighter: Season 3 · farm board+$130 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 0.150% cheaper against MEXC than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.178%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MET_USDT	0.2785	0.0100	pay 0.0050% / 4h	1h 28m	$929K	$283K	20x
Short	Lighter MET	0.2786	0.0096	get 0.0012% / 1h	28m 08s	$169K	$422K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$0.84
Price spread: +0.029% → +0.178%: −$14.98
Slippage, 4 orders: −$313.11
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$332.92
Costs to cover: 3.171%
Break-even: never at this rate

Slippage from MEXC: live order book, 38 min ago; Lighter: live order book, 17 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 MEXC live order book, 38 min ago	1.80 bp	8.5 bp −$8	42.7 bp −$427	244.4 bp −$24.4K	873.7 bp −$436.9K
Sell Lighter live order book, 17 min ago	32.57 bp	163.3 bp −$163	239.9 bp −$2,399	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 −0.0574% / S +0.0199%	1h	0.2786	+0.041%	$4K	—	50x	as long as short
Lighter METshort	+0.0096%	1h	0.2786	+0.029%	$169K	$422K	5x
Hyperliquid MET	+0.0100%	1h	0.2782	−0.101%	$3.8M	$1.7M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2791	+0.210%	$53K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2785	+0.008%	$4.8M	$12.2M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2785	+0.007%	$4.8M	$3.2M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2784	−0.036%	$1.2M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2787	+0.072%	$180K	$175K	50x	as long as short
MEXC MET_USDTlong	+0.0100%	4h	0.2785	long leg	$929K	$283K	20x
KuCoin METUSDTM	+0.0100%	4h	0.2789	+0.144%	$1.3M	$2.6M	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	0.2787	+0.072%	$652K	$889K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2788	+0.108%	$36K	$117K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2786	+0.036%	$2K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0132%	4h	0.2785	0.000%	$284K	$89K	50x	as long as short
Phoenix MET	+0.0173%	1h	0.2789	+0.129%	$14K	$15K	5x	as long as short
Backpack MET_USDC_PERP	+0.0233%	1h	0.2784	−0.022%	$314K	$311K	5x	as long as short