Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Bybit+0.114%7-day average −0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$192as in the Funding arb table

Net, price: spread back to 7d avg − costs−$191as in the Price arb table

costs, in and out, $10k−$2052.055% of the position

Long on Bybit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.134%+$13 on $10k

Price spread, last 4 days (all we have)−0.556%−$56 · spread now +0.114%, 7d avg −0.033%

Together, before fees−0.421%−$42 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: Gate is 0.147% dearer against Bybit than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit METUSDT	0.2819	0.0100	pay 0.0050% / 4h	1h 49m	$4.9M	$2.9M	25x
Short	Gate MET_USDT	0.2822	0.0100	get 0.0050% / 4h	1h 49m	$192K	$187K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Bybit. 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 BybitbpFee GatebpOrdersPrice spread, now +0.114%Rate

Funding earned: $0
Price spread: +0.114% → −0.033%: $14.69
Slippage, 4 orders: −$179.46
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$190.77
Costs to cover: 2.055%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Gate: live order book, 26 min ago.

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 Bybit live order book, 3 min ago	3.54 bp	45.6 bp −$46	231.6 bp −$2,316	doesn't fit	doesn't fit
Sell Gate live order book, 26 min ago	8.86 bp	57.8 bp −$58	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 −0.1613% / S +0.0235%	1h	0.2821	+0.065%	$9K	—	50x	as long as short
Phoenix MET	−0.0114%	1h	0.2834	+0.532%	$14K	$13K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2826	+0.266%	$261K	$244K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2821	+0.074%	$4.3M	$1.3M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2822	+0.115%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2819	+0.007%	$4.9M	$11.1M	50x	as long as short
Bybit METUSDTlong	+0.0100%	4h	0.2819	long leg	$4.9M	$2.9M	25x
OKX MET-USDT-SWAP	+0.0100%	4h	0.2820	+0.043%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDTshort	+0.0100%	4h	0.2822	+0.114%	$192K	$187K	50x
MEXC MET_USDT	+0.0100%	4h	0.2819	+0.007%	$942K	$259K	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	0.2821	+0.078%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2821	+0.078%	$663K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2818	−0.028%	$36K	$111K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2821	+0.078%	$2K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0147%	4h	0.2824	+0.184%	$288K	$78K	50x	as long as short
Backpack MET_USDC_PERP	+0.0691%	1h	0.2822	+0.110%	$330K	$251K	5x	as long as short