Funding arb · Price arb /

MET

all MET markets

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: Bybit against Gate−0.128%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$219as in the Funding arb table

Net, price: spread back to 7d avg − costs−$222as in the Price arb table

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

Long on Gate Short on Bybit

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)+0.570%+$57 · spread now −0.128%, 7d avg +0.033%

Together, before fees+0.435%+$44 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: Bybit is 0.161% cheaper against Gate than usual: you would sell low and buy high, −$16 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	Gate MET_USDT	0.2823	0.0100	pay 0.0050% / 4h	1h 49m	$192K	$187K	50x
Short	Bybit METUSDT	0.2819	0.0100	get 0.0050% / 4h	1h 49m	$4.9M	$2.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now −0.128%Rate

Funding earned: $0
Price spread: −0.128% → +0.033%: −$16.09
Slippage, 4 orders: −$179.46
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$221.55
Costs to cover: 2.055%
Break-even: never at this rate

Slippage from Gate: live order book, 26 min ago; Bybit: live order book, 3 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 Gate live order book, 26 min ago	8.86 bp	59.2 bp −$59	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	3.54 bp	42.9 bp −$43	190.6 bp −$1,906	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	−0.084%	$9K	—	50x	as long as short
Phoenix MET	−0.0114%	1h	0.2834	+0.383%	$14K	$13K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2821	−0.078%	$4.3M	$1.3M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2822	−0.028%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2819	−0.142%	$4.9M	$11.1M	50x	as long as short
Bybit METUSDTshort	+0.0100%	4h	0.2819	−0.128%	$4.9M	$2.9M	25x
OKX MET-USDT-SWAP	+0.0100%	4h	0.2820	−0.106%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDTlong	+0.0100%	4h	0.2823	long leg	$192K	$187K	50x
MEXC MET_USDT	+0.0100%	4h	0.2819	−0.142%	$942K	$259K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2821	−0.071%	$1.3M	$2.4M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget METUSDT	+0.0100%	4h	0.2824	+0.035%	$663K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2818	−0.177%	$36K	$111K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2821	−0.071%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0120%	1h	0.2827	+0.152%	$261K	$244K	5x	as long as short
BloFin MET-USDT	+0.0147%	4h	0.2824	+0.035%	$288K	$78K	50x	as long as short
Backpack MET_USDC_PERP	+0.0691%	1h	0.2822	−0.039%	$330K	$251K	5x	as long as short