MET

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0302%/8h= +33.0% APRnext payment +$0.38 per $10,000 · paid last 24h +0.139%

Price spread now: Lighter against Phoenix+0.109%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 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 for this trade now. Funding pays +$9 a day on $10k at the current rate, and Lighter is 0.109% dearer against Phoenix than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MET	0.2753	−0.0206	get 0.0026% / 1h	30m 48s	$13K	$14K	5x
Short	Lighter MET	0.2756	0.0096	get 0.0012% / 1h	30m 48s	$169K	$435K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phoenix. 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 PhoenixbpFee LighterbpOrdersPrice spread, now +0.109%Rate

Funding earned: $63.38
Price spread: +0.109% → 0.000%: $10.9
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: $67.28
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 49 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell Lighter live order book, 49 min ago	15.06 bp	149.0 bp −$149	246.3 bp −$2,463	doesn't fit	doesn't fit

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 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	−0.105%	$4K	—	50x	as long as short
Phoenix METlong	−0.0206%	1h	0.2753	long leg	$13K	$14K	5x
BloFin MET-USDT	+0.0093%	4h	0.2747	−0.232%	$272K	$91K	50x	as long as short
Lighter METshort	+0.0096%	1h	0.2756	+0.109%	$169K	$435K	5x
Hyperliquid MET	+0.0100%	1h	0.2751	−0.074%	$3.6M	$1.9M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2751	−0.086%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2749	−0.144%	$4.6M	$12.6M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2749	−0.153%	$4.7M	$3.3M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2753	−0.015%	$1.2M	$3.2M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2752	−0.051%	$173K	$171K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MET_USDT	+0.0100%	4h	0.2750	−0.123%	$844K	$289K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2752	−0.051%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2752	−0.051%	$684K	$911K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2750	−0.123%	$34K	$117K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2749	−0.160%	$2K	$1.6M	20x	as long as short
Backpack MET_USDC_PERP	+0.0135%	1h	0.2753	−0.015%	$314K	$250K	5x	as long as short