Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.036%

Price spread now: Gate against Lighter0.000%7-day average −0.176% · you sell dearer than you buy

Net, funding: paid 7d − costs−$193as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1911.907% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)−0.321%−$32 · spread now 0.000%, 7d avg −0.176%

Together, before fees−0.346%+ Points / potential airdropLighter: Season 3 · farm board−$35 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: Gate is 0.176% dearer against Lighter than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.176%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MET	0.2778	0.0096	pay 0.0012% / 1h	1m 54s	$168K	$422K	5x
Short	Gate MET_USDT	0.2778	0.0100	get 0.0050% / 4h	2h 01m	$179K	$183K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now 0.000%Rate

Funding earned: $0.84
Price spread: 0.000% → −0.176%: $17.59
Slippage, 4 orders: −$175.72
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$172.29
Costs to cover: 1.907%
Break-even: 1442.8 days

Slippage from Lighter: live order book, 49 min ago; Gate: live order book, 59 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, 49 min ago	6.94 bp	58.4 bp −$58	211.3 bp −$2,113	doesn't fit	doesn't fit
Sell Gate live order book, 59 min ago	8.86 bp	63.7 bp −$64	doesn't fit	doesn't fit	doesn't fit

MET on 15 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 −0.0483% / S +0.0171%	1h	0.2780	+0.067%	$4K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2774	−0.126%	$14K	$15K	5x	as long as short
Lighter METlong	+0.0096%	1h	0.2778	long leg	$168K	$422K	5x
Hyperliquid MET	+0.0100%	1h	0.2779	+0.025%	$3.8M	$1.7M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2778	+0.005%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2779	+0.039%	$4.8M	$12.2M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2777	−0.036%	$4.8M	$3.1M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2779	+0.036%	$1.2M	$3.4M	20x	as long as short
Gate MET_USDTshort	+0.0100%	4h	0.2778	0.000%	$179K	$183K	50x
MEXC MET_USDT	+0.0100%	4h	0.2778	0.000%	$929K	$287K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2778	0.000%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2780	+0.072%	$651K	$892K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2781	+0.090%	$316K	$282K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2772	−0.216%	$35K	$117K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2780	+0.072%	$2K	$1.6M	20x	as long as short