MET

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0212%/8h= +23.2% APRnext payment +$0.26 per $10,000 · paid last 24h +0.177%

Price spread now: Hyperliquid against Phoenix−0.056%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Hyperliquid

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 airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding pays, the price is against you. Hyperliquid is 0.056% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.056% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 21 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MET	0.2846	−0.0112	get 0.0014% / 1h	58m 34s	$15K	$13K	5x
Short	Hyperliquid MET	0.2844	0.0100	get 0.0013% / 1h	58m 34s	$4.2M	$1.4M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Phoenix. 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 PhoenixbpFee HyperliquidbpOrdersPrice spread, now −0.056%Rate

Funding earned: $44.49
Price spread: −0.056% → 0.000%: −$5.62
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $22.87
Costs to cover: 0.160%
Break-even: 3.4 days

Slippage unknown: Phoenix: no order-book sample; Hyperliquid: live order book, 3 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 3 min ago	0.88 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit

Phoenix: 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	0.2840	−0.190%	$10K	—	50x	as long as short
Phoenix METlong	−0.0112%	1h	0.2846	long leg	$15K	$13K	5x
BloFin MET-USDT	+0.0073%	4h	0.2843	−0.098%	$294K	$83K	50x	as long as short
Hyperliquid METshort	+0.0100%	1h	0.2844	−0.056%	$4.2M	$1.4M	3x
Aster METUSDT	+0.0100%	4h	0.2841	−0.180%	$53K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2841	−0.183%	$5.0M	$11.8M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2840	−0.197%	$4.9M	$3.1M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2840	−0.204%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2841	−0.169%	$193K	$185K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2842	−0.134%	$1.0M	$276K	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	0.2843	−0.098%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2844	−0.063%	$681K	$877K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2843	−0.098%	$36K	$116K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2840	−0.204%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0128%	1h	0.2845	−0.032%	$248K	$268K	5x	as long as short
Backpack MET_USDC_PERP	+0.0260%	1h	0.2841	−0.162%	$331K	$262K	5x	as long as short