Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.036%

Price spread now: MEXC against Lighter−0.098%7-day average −0.174% · you buy dearer than you sell

Net, funding: paid 7d − costs−$327as in the Funding arb table

Net, price: spread back to 7d avg − costs−$312as in the Price arb table

costs, in and out, $10k−$3193.194% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 4 days (all we have)−0.284%−$28 · spread now −0.098%, 7d avg −0.174%

Together, before fees−0.361%+ Points / potential airdropLighter: Season 3 · farm board−$36 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: MEXC is 0.076% dearer against Lighter than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.174%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MET	0.2753	0.0096	pay 0.0012% / 1h	1m 28s	$168K	$424K	5x
Short	MEXC MET_USDT	0.2750	0.0100	get 0.0050% / 4h	2h 01m	$847K	$293K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.098%Rate

Funding earned: $0.84
Price spread: −0.098% → −0.174%: $7.56
Slippage, 4 orders: −$315.43
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$311.03
Costs to cover: 3.194%
Break-even: 2598.9 days

Slippage from Lighter: live order book, 29 min ago; MEXC: live order book, 49 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, 29 min ago	57.76 bp	140.1 bp −$140	216.6 bp −$2,166	doesn't fit	doesn't fit
Sell MEXC live order book, 49 min ago	1.82 bp	9.4 bp −$9	37.6 bp −$376	233.8 bp −$23.4K	797.4 bp −$398.7K

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	0.2751	−0.077%	$4K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2753	+0.004%	$13K	$14K	5x	as long as short
Lighter METlong	+0.0096%	1h	0.2753	long leg	$168K	$424K	5x
Hyperliquid MET	+0.0100%	1h	0.2750	−0.116%	$3.6M	$1.9M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2751	−0.068%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2749	−0.134%	$4.7M	$12.7M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2750	−0.094%	$4.7M	$3.2M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2751	−0.062%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2751	−0.062%	$172K	$198K	50x	as long as short
MEXC MET_USDTshort	+0.0100%	4h	0.2750	−0.098%	$847K	$293K	20x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2752	−0.025%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2754	+0.047%	$692K	$966K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2753	+0.018%	$310K	$280K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2747	−0.207%	$34K	$120K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2751	−0.062%	$1K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0143%	4h	0.2751	−0.062%	$273K	$94K	50x	as long as short