Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0347%/8h= −38.0% APRpaid last 24h −0.023%

Price spread now: GMX against Bitget−0.027%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 −$10 a day on $10k at the current rate, and GMX is 0.027% cheaper against Bitget than usual: you would sell low and buy high (−$3 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	Bitget METUSDT	0.2840	0.0100	pay 0.0050% / 4h	1h 39m	$667K	$848K	25x
Short	GMX MET/USD [WBTC.b-USDC]	0.2839	L −0.1723% / S +0.0247%	pay 0.0031% / 1h	39m 44s	$10K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$72.8
Price spread: −0.027% → 0.000%: −$2.75
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$99.54
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 41 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 Bitget live order book, 41 min ago	8.81 bp	28.6 bp −$29	110.6 bp −$1,106	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 −0.1723% / S +0.0247%	1h	0.2839	−0.027%	$10K	—	50x
Phoenix MET	−0.0114%	1h	0.2825	−0.514%	$14K	$13K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2845	+0.180%	$262K	$244K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2840	+0.002%	$4.3M	$1.3M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2841	+0.035%	$53K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2839	−0.024%	$4.9M	$11.1M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2838	−0.074%	$4.9M	$2.9M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2840	0.000%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2839	−0.035%	$193K	$187K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2839	−0.035%	$949K	$262K	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	0.2841	+0.035%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDTlong	+0.0100%	4h	0.2840	long leg	$667K	$848K	25x
ApeX Omni METUSDT	+0.0100%	1h	0.2831	−0.317%	$37K	$111K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2838	−0.070%	$2K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0104%	4h	0.2839	−0.035%	$289K	$79K	50x	as long as short
Backpack MET_USDC_PERP	+0.0782%	1h	0.2840	0.000%	$330K	$256K	5x	as long as short