For Shop Your Way Rewards members only, Kmart offers the Dorel Home Furnishings Modern Queen Canopy Metal Bed for $186.29 with free shipping. (Not a member? It's free to sign up.) That's the lowest total price we could find by $3, though most vendors sell it for at least $200. It features 22 metal slats and measures 84" x 63" x 72".
Of note, Shop Your Way Rewards members will earn a Kmart credit with this purchase and may be eligible for additional credits and discounts.