Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h −0.035%

Price spread now: BloFin against Lighter−0.150%60s7-day average −0.155% · you buy dearer than you sell

Net, funding: paid 7d − costs−$345as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$3383.383% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.063%−$6 on $10k

Price spread, last 4 days (all we have)+0.404%+$40 · spread now −0.150%, 7d avg −0.155%

Together, before fees+0.341%+ Points / potential airdropLighter: Season 3 · farm board+$34 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.155%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.063%, so the current rate has only just turned in your favour. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MET	0.2725	0.0096	pay 0.0012% / 1h	46m 00s	$165K	$430K	5x
Short	BloFin MET-USDT	0.2721	0.0121	get 0.0060% / 4h	1h 46m	$275K	$90K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now −0.150%Rate

Funding earned: $5.15
Price spread: −0.150% → −0.155%: $0.49
Slippage, 4 orders: −$326.3
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$332.66
Costs to cover: 3.383%
Break-even: 458.8 days

Slippage from Lighter: live order book, 45 min ago; BloFin: live order book, 38 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, 45 min ago	57.76 bp	140.1 bp −$140	216.6 bp −$2,166	doesn't fit	doesn't fit
Sell BloFin live order book, 38 min ago	3.69 bp	14.3 bp −$14	60.8 bp −$608	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 −0.0738% / S +0.0214%	1h	0.2720	−0.205%	$4K	—	50x	as long as short
Phoenix MET	−0.0029%	1h	0.2723	−0.062%	$13K	$14K	5x	as long as short
Bybit METUSDT	+0.0033%	4h	0.2720	−0.187%	$4.7M	$3.2M	25x	as long as short
Lighter METlong	+0.0096%	1h	0.2725	long leg	$165K	$430K	5x
Hyperliquid MET	+0.0100%	1h	0.2720	−0.202%	$3.6M	$1.9M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2722	−0.121%	$51K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2721	−0.150%	$4.6M	$12.7M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2722	−0.114%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2723	−0.077%	$170K	$194K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2722	−0.114%	$838K	$289K	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	0.2722	−0.114%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2724	−0.040%	$663K	$961K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2722	−0.128%	$306K	$278K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2719	−0.224%	$34K	$120K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2720	−0.187%	$1K	$1.6M	20x	as long as short
BloFin MET-USDTshort	+0.0121%	4h	0.2721	−0.150%	$275K	$90K	50x