Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.054%

Price spread now: Backpack against Aster−0.015%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Backpack

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 airdropAster: Stage 5 · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster METUSDT	0.2772	0.0100	pay 0.0050% / 4h	57m 40s	$52K	$11K	5x
Short	Backpack MET_USDC_PERP	0.2772	0.0100	get 0.0013% / 1h	57m 40s	$314K	$312K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now −0.015%Rate

Funding earned: $0
Price spread: −0.015% → 0.000%: −$1.47
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$19.47
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Aster: no order-book sample; Backpack: live order book, 1 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 Aster no order-book sample	—	—	—	—	—
Sell Backpack live order book, 1 min ago	1.26 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit

Aster: 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 −0.0498% / S +0.0175%	1h	0.2771	−0.027%	$4K	—	50x	as long as short
Bybit METUSDT	+0.0019%	4h	0.2768	−0.148%	$4.8M	$3.2M	25x	as long as short
BloFin MET-USDT	+0.0048%	4h	0.2775	+0.101%	$286K	$89K	50x	as long as short
Lighter MET	+0.0096%	1h	0.2766	−0.213%	$167K	$425K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2768	−0.155%	$3.8M	$1.7M	3x	as long as short
Aster METUSDTlong	+0.0100%	4h	0.2772	long leg	$52K	$11K	5x
Binance METUSDT	+0.0100%	4h	0.2768	−0.156%	$4.8M	$12.3M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2767	−0.188%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2771	−0.044%	$178K	$170K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2767	−0.188%	$930K	$279K	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	0.2772	−0.007%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2771	−0.044%	$648K	$881K	25x	as long as short
Backpack MET_USDC_PERPshort	+0.0100%	1h	0.2772	−0.015%	$314K	$312K	5x
ApeX Omni METUSDT	+0.0100%	1h	0.2772	−0.007%	$36K	$118K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2772	−0.007%	$2K	$1.6M	20x	as long as short
Phoenix MET	+0.0173%	1h	0.2771	−0.047%	$13K	$15K	5x	as long as short