MET

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0961%/8h= −105.3% APRnext payment −$1.20 per $10,000 · paid last 24h −0.080%

Price spread now: GMX against Backpack−0.047%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$29 a day on $10k at the current rate, and GMX is 0.047% cheaper against Backpack than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MET_USDC_PERP	0.2828	0.0729	pay 0.0091% / 1h	51m 54s	$330K	$251K	5x
Short	GMX MET/USD [WBTC.b-USDC]	0.2827	L −0.1588% / S +0.0233%	pay 0.0029% / 1h	51m 54s	$9K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Backpack. 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 BackpackbpFee GMXbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$201.88
Price spread: −0.047% → 0.000%: −$4.67
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$228.55
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 32 min ago; GMX: no order-book sample. 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 Backpack live order book, 32 min ago	2.12 bp	13.2 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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]short	L −0.1588% / S +0.0233%	1h	0.2827	−0.047%	$9K	—	50x
Phoenix MET	−0.0114%	1h	0.2834	+0.205%	$14K	$13K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2826	−0.071%	$4.3M	$1.2M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2830	+0.063%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2826	−0.071%	$4.9M	$11.1M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2824	−0.141%	$4.9M	$2.9M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2827	−0.035%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2827	−0.035%	$193K	$187K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2826	−0.071%	$945K	$259K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2827	−0.035%	$1.3M	$2.4M	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	0.2828	0.000%	$664K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2833	+0.177%	$37K	$111K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2826	−0.071%	$2K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0141%	4h	0.2830	+0.071%	$292K	$78K	50x	as long as short
Lighter MET	+0.0200%	1h	0.2831	+0.110%	$261K	$244K	5x	as long as short
Backpack MET_USDC_PERPlong	+0.0729%	1h	0.2828	long leg	$330K	$251K	5x