MET

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0125%/8h= +13.7% APRnext payment +$0.16 per $10,000 · paid last 24h +0.162%

Price spread now: Lighter against Phoenix+0.253%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Lighter

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 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter is 0.253% dearer against Phoenix than usual: you sell high and buy low: +$25 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MET	0.2723	−0.0029	get 0.0004% / 1h	48m 26s	$13K	$14K	5x
Short	Lighter MET	0.2730	0.0096	get 0.0012% / 1h	48m 26s	$166K	$429K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.253%Rate

Funding earned: $26.28
Price spread: +0.253% → 0.000%: $25.34
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $44.61
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 42 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 Lighter live order book, 42 min ago	57.76 bp	162.7 bp −$163	243.8 bp −$2,438	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 −0.0738% / S +0.0214%	1h	0.2723	−0.003%	$4K	—	50x	as long as short
Phoenix METlong	−0.0029%	1h	0.2723	long leg	$13K	$14K	5x
Bybit METUSDT	+0.0033%	4h	0.2722	−0.051%	$4.7M	$3.2M	25x	as long as short
BloFin MET-USDT	+0.0048%	4h	0.2722	−0.051%	$275K	$90K	50x	as long as short
Lighter METshort	+0.0096%	1h	0.2730	+0.253%	$166K	$429K	5x
Hyperliquid MET	+0.0100%	1h	0.2721	−0.092%	$3.6M	$1.9M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2724	+0.033%	$51K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2723	−0.009%	$4.6M	$12.7M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2724	+0.022%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2724	+0.022%	$170K	$194K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MET_USDT	+0.0100%	4h	0.2722	−0.051%	$838K	$289K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2722	−0.051%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2724	+0.022%	$663K	$961K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2726	+0.095%	$307K	$278K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2721	−0.088%	$34K	$120K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2724	+0.022%	$2K	$1.6M	20x	as long as short