MET

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h +0.054%

Price spread now: Backpack against ApeX Omni−0.456%7-day average +0.178% · you buy dearer than you sell

Net, funding: paid 7d − costs−$566as in the Funding arb table

Net, price: spread back to 7d avg − costs−$663as in the Price arb table

costs, in and out, $10k−$6005.999% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.337%+$34 on $10k

Price spread, last 3 days (all we have)+0.653%+$65 · spread now −0.456%, 7d avg +0.178%

Together, before fees+0.990%+$99 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Backpack is 0.634% cheaper against ApeX Omni than usual: you would sell low and buy high (−$63 if the spread goes back to its 7-day average of +0.178%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.337%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni METUSDT	0.2809	0.0100	pay 0.0013% / 1h	55m 25s	$36K	$117K	50x
Short	Backpack MET_USDC_PERP	0.2796	0.0068	get 0.0009% / 1h	55m 25s	$323K	$273K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX Omni. 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now −0.456%Rate

Funding earned: −$6.63
Price spread: −0.456% → +0.178%: −$63.36
Slippage, 4 orders: −$579.88
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$669.87
Costs to cover: 5.999%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 10 min ago; Backpack: live order book, 13 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 ApeX Omni live order book, 10 min ago	28.27 bp	276.0 bp −$276	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 13 min ago	1.23 bp	13.5 bp −$14	doesn't fit	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	0.2791	−0.624%	$9K	—	50x	as long as short
BloFin MET-USDT	+0.0061%	4h	0.2809	0.000%	$291K	$89K	50x	as long as short
Backpack MET_USDC_PERPshort	+0.0068%	1h	0.2796	−0.456%	$323K	$273K	5x
Hyperliquid MET	+0.0100%	1h	0.2795	−0.509%	$3.9M	$1.6M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2793	−0.587%	$53K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2793	−0.586%	$4.8M	$12.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2791	−0.641%	$4.8M	$3.1M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2791	−0.641%	$1.2M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2793	−0.570%	$181K	$178K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2792	−0.605%	$966K	$276K	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	0.2793	−0.570%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2794	−0.534%	$653K	$882K	25x	as long as short
ApeX Omni METUSDTlong	+0.0100%	1h	0.2809	long leg	$36K	$117K	50x
SunX MET-USDT	+0.0100%	4h	0.2801	−0.285%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0112%	1h	0.2799	−0.345%	$248K	$285K	5x	as long as short
Phoenix MET	+0.0197%	1h	0.2812	+0.110%	$14K	$15K	5x	as long as short