Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0035%/8h= −3.9% APRpaid last 24h −0.004%

Price spread now: BloFin against ApeX Omni+0.144%7-day average +0.123% · you sell dearer than you buy

Net, funding: paid 7d − costs−$690as in the Funding arb table

Net, price: spread back to 7d avg − costs−$680as in the Price arb table

costs, in and out, $10k−$6826.824% of the position

Long on ApeX Omni Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 4 days (all we have)+1.064%+$106 · spread now +0.144%, 7d avg +0.123%

Together, before fees+0.988%+$99 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.021% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.144% now, against its 7-day average of +0.123%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni METUSDT	0.2785	0.0100	pay 0.0013% / 1h	54m 55s	$36K	$118K	50x
Short	BloFin MET-USDT	0.2789	0.0065	get 0.0032% / 4h	3h 54m	$285K	$89K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.144%Rate

Funding earned: −$7.45
Price spread: +0.144% → +0.123%: $2.07
Slippage, 4 orders: −$660.41
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$687.79
Costs to cover: 6.824%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 61 min ago; BloFin: live order book, 40 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, 61 min ago	30.60 bp	327.9 bp −$328	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 40 min ago	1.80 bp	22.5 bp −$23	51.0 bp −$510	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 −0.0498% / S +0.0175%	1h	0.2795	+0.347%	$4K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2790	+0.165%	$14K	$15K	5x	as long as short
BloFin MET-USDTshort	+0.0065%	4h	0.2789	+0.144%	$285K	$89K	50x
Lighter MET	+0.0096%	1h	0.2795	+0.348%	$169K	$423K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2796	+0.399%	$3.8M	$1.7M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2794	+0.330%	$53K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2795	+0.359%	$4.8M	$12.1M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2795	+0.359%	$4.8M	$3.1M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2797	+0.431%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2793	+0.287%	$178K	$167K	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	0.2796	+0.395%	$940K	$279K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2796	+0.395%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2798	+0.467%	$660K	$868K	25x	as long as short
ApeX Omni METUSDTlong	+0.0100%	1h	0.2785	long leg	$36K	$118K	50x
SunX MET-USDT	+0.0100%	4h	0.2794	+0.323%	$2K	$1.6M	20x	as long as short
Backpack MET_USDC_PERP	+0.0428%	1h	0.2798	+0.474%	$319K	$308K	5x	as long as short