Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.036%

Price spread now: Lighter against OKX+0.242%7-day average +0.160% · you sell dearer than you buy

Net, funding: paid 7d − costs−$303as in the Funding arb table

Net, price: spread back to 7d avg − costs−$299as in the Price arb table

costs, in and out, $10k−$3083.077% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 4 days (all we have)−0.104%−$10 · spread now +0.242%, 7d avg +0.160%

Together, before fees−0.057%+ Points / potential airdropLighter: Season 3 · farm board−$6 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 0.082% dearer against OKX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.160%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MET-USDT-SWAP	0.2724	0.0100	pay 0.0050% / 4h	11m 35s	$1.2M	$3.3M	20x
Short	Lighter MET	0.2731	0.0096	get 0.0012% / 1h	11m 35s	$166K	$438K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now +0.242%Rate

Funding earned: −$0.84
Price spread: +0.242% → +0.160%: $8.24
Slippage, 4 orders: −$297.7
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$300.29
Costs to cover: 3.077%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Lighter: live order book, 9 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 OKX live order book, 1 min ago	3.67 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 9 min ago	15.06 bp	149.0 bp −$149	246.3 bp −$2,463	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	0.2724	−0.011%	$4K	—	50x	as long as short
Phoenix MET	−0.0059%	1h	0.2720	−0.165%	$13K	$14K	5x	as long as short
Lighter METshort	+0.0096%	1h	0.2731	+0.242%	$166K	$438K	5x
Hyperliquid MET	+0.0100%	1h	0.2723	−0.033%	$3.6M	$1.9M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2724	−0.004%	$51K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2721	−0.093%	$4.5M	$12.8M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2722	−0.059%	$4.7M	$3.3M	25x	as long as short
OKX MET-USDT-SWAPlong	+0.0100%	4h	0.2724	long leg	$1.2M	$3.3M	20x
Gate MET_USDT	+0.0100%	4h	0.2722	−0.073%	$171K	$191K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2721	−0.110%	$837K	$292K	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	0.2724	0.000%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2725	+0.037%	$676K	$953K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2725	+0.044%	$311K	$253K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2720	−0.147%	$34K	$118K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2723	−0.037%	$1K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0130%	4h	0.2724	0.000%	$269K	$89K	50x	as long as short