Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0315%/8h= −34.4% APRpaid last 24h −0.044%

Price spread now: GMX against Binance+0.044%7-day average — · you sell dearer than you buy

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

Long on Binance 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

The price spread pays, funding is against you. GMX is 0.044% dearer against Binance than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance METUSDT	0.2785	0.0100	pay 0.0050% / 4h	2h 28m	$4.8M	$12.1M	50x
Short	GMX MET/USD [WBTC.b-USDC]	0.2786	L −0.1415% / S +0.0215%	pay 0.0027% / 1h	28m 27s	$9K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$66.05
Price spread: +0.044% → 0.000%: $4.38
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$83.67
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 12 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 Binance live order book, 12 min ago	3.59 bp	15.9 bp −$16	175.4 bp −$1,754	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 15 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 −0.1415% / S +0.0215%	1h	0.2786	+0.044%	$9K	—	50x
Phoenix MET	0.0000%	1h	0.2791	+0.222%	$14K	$15K	5x	as long as short
Bybit METUSDT	+0.0093%	4h	0.2785	−0.011%	$4.8M	$3.1M	25x	as long as short
Lighter MET	+0.0096%	1h	0.2777	−0.302%	$165K	$404K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2786	+0.028%	$3.9M	$1.7M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2785	−0.004%	$52K	$11K	5x	as long as short
Binance METUSDTlong	+0.0100%	4h	0.2785	long leg	$4.8M	$12.1M	50x
OKX MET-USDT-SWAP	+0.0100%	4h	0.2791	+0.208%	$1.2M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2785	−0.008%	$178K	$181K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2784	−0.043%	$924K	$284K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2785	−0.008%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2789	+0.136%	$652K	$892K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2784	−0.033%	$317K	$281K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2789	+0.136%	$36K	$117K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2788	+0.100%	$1K	$1.6M	20x	as long as short