Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Bitget−0.090%7-day average +0.020% · you buy dearer than you sell

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

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 7 days+0.005%+$1 · spread now −0.090%, 7d avg +0.020%

Together, before fees−0.045%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.110% cheaper against Bitget than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget METUSDT	0.2772	0.0100	pay 0.0050% / 4h	57m 59s	$648K	$881K	25x
Short	Hyperliquid MET	0.2769	0.0100	get 0.0013% / 1h	57m 59s	$3.8M	$1.7M	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 HyperliquidbpOrdersPrice spread, now −0.090%Rate

Funding earned: $0
Price spread: −0.090% → +0.020%: −$11.02
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$32.02
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 63 min ago; Hyperliquid: live order book, 4 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 Bitget live order book, 63 min ago	7.19 bp	26.5 bp −$27	123.2 bp −$1,232	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	1.26 bp	doesn't fit	doesn't fit	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	0.2771	−0.020%	$4K	—	50x	as long as short
Bybit METUSDT	+0.0019%	4h	0.2768	−0.130%	$4.8M	$3.2M	25x	as long as short
BloFin MET-USDT	+0.0048%	4h	0.2775	+0.108%	$286K	$89K	50x	as long as short
Lighter MET	+0.0096%	1h	0.2770	−0.072%	$168K	$425K	5x	as long as short
Hyperliquid METshort	+0.0100%	1h	0.2769	−0.090%	$3.8M	$1.7M	3x
Aster METUSDT	+0.0100%	4h	0.2772	+0.011%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2768	−0.127%	$4.8M	$12.3M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2768	−0.144%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2771	−0.036%	$178K	$170K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2769	−0.108%	$931K	$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	0.000%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDTlong	+0.0100%	4h	0.2772	long leg	$648K	$881K	25x
Backpack MET_USDC_PERP	+0.0100%	1h	0.2772	−0.007%	$314K	$312K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2772	0.000%	$36K	$118K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2772	0.000%	$2K	$1.6M	20x	as long as short
Phoenix MET	+0.0173%	1h	0.2771	−0.040%	$13K	$15K	5x	as long as short