Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0132%/8h= +14.5% APRpaid last 24h +0.034%

Price spread now: Lighter against SunX+0.263%7-day average +0.137% · you sell dearer than you buy

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

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 3 days (all we have)−0.608%−$61 · spread now +0.263%, 7d avg +0.137%

Together, before fees−0.600%+ Points / potential airdropLighter: Season 3 · farm board−$60 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter is 0.127% dearer against SunX than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.137%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MET-USDT	0.2847	0.0100	pay 0.0050% / 4h	23m 28s	$1K	$1.6M	20x
Short	Lighter MET	0.2854	0.0232	get 0.0029% / 1h	23m 28s	$262K	$250K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.263%Rate

Funding earned: $27.72
Price spread: +0.263% → +0.137%: $12.66
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $32.38
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SunX: live order book, 11 min ago; Lighter: live order book, 37 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 SunX live order book, 11 min ago	500.96 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 37 min ago	11.17 bp	13.6 bp −$14	164.0 bp −$1,640	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 −0.1723% / S +0.0247%	1h	0.2846	−0.041%	$10K	—	50x	as long as short
Phoenix MET	−0.0112%	1h	0.2860	+0.457%	$15K	$13K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2848	+0.049%	$4.3M	$1.3M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2847	−0.009%	$54K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2847	+0.008%	$5.0M	$11.6M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2845	−0.070%	$4.9M	$3.0M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2847	0.000%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2849	+0.070%	$193K	$190K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2846	−0.035%	$1.0M	$279K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2846	−0.035%	$1.3M	$2.5M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget METUSDT	+0.0100%	4h	0.2848	+0.035%	$685K	$871K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2850	+0.105%	$36K	$115K	50x	as long as short
SunX MET-USDTlong	+0.0100%	4h	0.2847	long leg	$1K	$1.6M	20x
BloFin MET-USDT	+0.0143%	4h	0.2854	+0.246%	$298K	$83K	50x	as long as short
Lighter METshort	+0.0232%	1h	0.2854	+0.263%	$262K	$250K	5x
Backpack MET_USDC_PERP	+0.0511%	1h	0.2852	+0.169%	$335K	$259K	5x	as long as short