MET

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h +0.034%

Price spread now: Lighter against Hyperliquid+0.007%7-day average +0.121% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$850.853% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.114%+$11 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now +0.007%, 7d avg +0.121%

Together, before fees+0.141%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$14 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 0.114% cheaper against Hyperliquid than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.121%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MET	0.2844	0.0100	pay 0.0013% / 1h	31m 15s	$4.3M	$1.3M	3x
Short	Lighter MET	0.2845	0.0096	get 0.0012% / 1h	31m 15s	$264K	$245K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Hyperliquid. 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 HyperliquidbpFee LighterbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$0.84
Price spread: +0.007% → +0.121%: −$11.42
Slippage, 4 orders: −$76.29
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$97.55
Costs to cover: 0.853%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Lighter: live order book, 43 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 Hyperliquid live order book, 10 min ago	1.76 bp	16.0 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 43 min ago	9.91 bp	12.3 bp −$12	155.8 bp −$1,558	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	0.2843	−0.060%	$10K	—	50x	as long as short
Phoenix MET	−0.0114%	1h	0.2842	−0.084%	$14K	$13K	5x	as long as short
Lighter METshort	+0.0096%	1h	0.2845	+0.007%	$264K	$245K	5x
Hyperliquid METlong	+0.0100%	1h	0.2844	long leg	$4.3M	$1.3M	3x
Aster METUSDT	+0.0100%	4h	0.2840	−0.159%	$53K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2840	−0.163%	$5.0M	$11.2M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2838	−0.221%	$4.9M	$2.9M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2838	−0.225%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2841	−0.120%	$193K	$188K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2841	−0.120%	$964K	$269K	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	0.2842	−0.084%	$1.3M	$2.5M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2841	−0.120%	$674K	$854K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2842	−0.084%	$37K	$111K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2841	−0.120%	$1K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0118%	4h	0.2841	−0.120%	$290K	$79K	50x	as long as short
Backpack MET_USDC_PERP	+0.0623%	1h	0.2842	−0.088%	$330K	$257K	5x	as long as short