Funding arb · Price arb / Crypto

MET

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LONGedgeX▾Phoenix −0.0442%Aster −0.0395%TxFlow −0.0310%edgeX −0.0297%Binance −0.0282%MEXC −0.0280%Gate −0.0176%GMX −0.0138%OKX −0.0119%Bitget −0.0106%Hyperliquid −0.0105%Bybit −0.0088%BingX −0.0082%BloFin −0.0042%Lighter +0.0096%Orderly +0.0097%KuCoin +0.0100%Variational Omni +0.0100%ApeX Omni +0.0100%SunX +0.0100%

⇄⇅

SHORTBackpack▾KuCoin +0.0100%Backpack +0.0100%Variational Omni +0.0100%ApeX Omni +0.0100%SunX +0.0100%Orderly +0.0097%Lighter +0.0096%BloFin −0.0042%BingX −0.0082%Bybit −0.0088%Hyperliquid −0.0105%Bitget −0.0106%OKX −0.0119%GMX +0.0173%Gate −0.0176%MEXC −0.0280%Binance −0.0282%TxFlow −0.0310%Aster −0.0395%Phoenix −0.0442%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	edgeXMETUSDC	0.3115	−0.0297	get 0.0149% / 4h	3h 19m	$1K	$139K	10x	Long edgeX
SHORT	BackpackMET_USDC_PERP	0.3135	+0.0100	get 0.0013% / 1h	19m 50s	$119K	$94K	5x	Short Backpack

Price gap+0.645%

Funding gap+0.0397% /8h

Both sides work: funding pays +$12 a day on $10k, and the gap is 0.545% above its 7d average: +$54 more if it goes back.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid −0.230% in total, about −0.0110%/8h on average.

Price and funding

Entry / ExitPrice spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Entry / Exit?

Price spread?

Prices?

Funding?per 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now+0.645%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

edgeXBackpack

MET on 21 exchanges

lowest funding first

Before you open

2 ok · 4 to watch

• !
  Watch: Thin at this size26.8 / 15.5 bp

  At $10k entering edgeX costs 26.8 bp, fee and slippage, 1.7× Backpack’s.
• i
  Note: Margin at max leverage$1,000 + $2,000

  edgeX 10x, Backpack 5x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ4h / 1h

  Payments land at different times. Close right after the slower leg pays.

  Long edgeX · 4h+$8.91

  Short Backpack · 1h+$3.00

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: +$11.91Long edgeX: 6 payments, +$8.91; short Backpack: 24 payments, +$3.00.
• ✓
  OK: Entry gap works for you+0.645% vs +0.100%

  You short the dearer leg. If the gap goes back to average, the short gains.
• !
  Watch: Long leg is thinner$1K vs $119K OI

  edgeX sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legedgeX points

  Volume here counts toward the points program.
• !
  Watch: KYCedgeX No · Backpack Yes

  KYC (ID, face scan, residency and source of income) before any trading.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0110%/8h × 21 periods−$23.01

Price spread+0.645% → +0.100% (7d avg)+$54.45

Slippage, 4 orderslive order books−$58.28

Fee edgeX bp × 2 orders−$9.00

Fee Backpack bp × 2 orders−$10.00

Net · 7 days · $10k−$45.84

Costs to cover0.773%Break-evennever at this rate

Slippage: edgeX: live order book, 3 min ago; Backpack: live order book, 10 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGedgeX4.8326.8 bp−$27doesn’t fitdoesn’t fitdoesn’t fit

SELL · SHORTBackpack2.4115.5 bp−$162032.9 bp−$20.3Kdoesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

FundingPrice spread

I'm in

MET news

posts that mention MET, from every exchangeSearch all news →

10-10 00:13	Orderly	Listing	new market PERP_MET_USDC_mythos ($MET) seen by our collector
10-09 09:44	edgeX	Listing	new market METUSDC ($MET) seen by our collector
10-09 08:46	edgeX	Listing	New Crypto Perp Listings on edgeX $STRK ZK rollup scaling network on Ethereum. $MET Liquidity and DEX protocol on Solana. Trade on Arc. Unlock Triple Rewards. @edgeX_exchange on X ↗
10-08 18:00	Binance	Contest	Nice to MET you. The MET Trading Tournament is live, with up to 400 BNB in token vouchers to share. Join now → @binance on X ↗
09-28 15:16	Phoenix	Contest	It’s Solana Ecosystem week on Frontier Traders. Trade SOL, JUP, PUMP, SKR, MET, ANSEM, STONK, JTO, and FARTCOIN perpetuals on Phoenix to compete for a $25,000 prize pool across Volume and PnL leaderboards. @PhoenixTrade on X ↗
09-25 14:48	Phoenix	Contest	$SOL went up, and so did the rewards. Earn an additional $25k in rewards for trading @solana ecosystem tokens on Phoenix this week, courtesy of @joinfrontier SOL, JUP, PUMP, SKR, MET, ANSEM, STONK, JTO, FART @PhoenixTrade on X ↗