MET

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0379%/8h= −41.5% APRnext payment −$0.47 per $10,000 · paid last 24h −0.083%

Price spread now: Phoenix against Lighter−0.054%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 6 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 against this trade now: funding costs −$11 a day on $10k at the current rate, and Phoenix is 0.054% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter MET	0.3136	0.0096	pay 0.0012% / 1h	16m 24s	$178K	$280K	5x
Short	Phoenix MET	0.3134	−0.0283	pay 0.0035% / 1h	16m 24s	$14K	$15K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$79.5
Price spread: −0.054% → 0.000%: −$5.42
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$91.93
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 31 min ago; Phoenix: no order-book sample. 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 Lighter live order book, 31 min ago	30.39 bp	118.1 bp −$118	229.4 bp −$2,294	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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 exchanges

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
Phoenix METshort	−0.0283%	1h	0.3134	−0.054%	$14K	$15K	5x
Bybit METUSDT	−0.0063%	4h	0.3123	−0.411%	$4.9M	$4.6M	25x	as long as short
GMX MET/USD [WBTC.b-USDC]	L +0.0057% / S +0.0009%	1h	0.3126	−0.311%	$980	—	50x	as long as short
Lighter METlong	+0.0096%	1h	0.3136	long leg	$178K	$280K	5x
BloFin MET-USDT	+0.0097%	4h	0.3135	−0.029%	$338K	$179K	50x	as long as short
Hyperliquid MET	+0.0100%	1h	0.3127	−0.284%	$4.6M	$2.8M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.3127	−0.272%	$51K	$38K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.3127	−0.284%	$5.5M	$15.7M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.3128	−0.252%	$1.2M	$3.8M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.3129	−0.220%	$200K	$309K	50x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MET_USDT	+0.0100%	4h	0.3126	−0.316%	$1.1M	$442K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.3128	−0.252%	$1.5M	$2.8M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.3131	−0.156%	$780K	$876K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.3127	−0.284%	$41K	$143K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.3126	−0.316%	$1K	$1.5M	20x	as long as short
Backpack MET_USDC_PERP	+0.0481%	1h	0.3129	−0.207%	$362K	$235K	5x	as long as short