Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0347%/8h= −38.0% APRpaid last 24h −0.030%

Price spread now: GMX against Gate+0.036%7-day average — · you sell dearer than you buy

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

Long on Gate 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

The price spread pays, funding is against you. GMX is 0.036% dearer against Gate than usual: you sell high and buy low (spread +0.036% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MET_USDT	0.2850	0.0100	pay 0.0050% / 4h	9m 02s	$193K	$190K	50x
Short	GMX MET/USD [WBTC.b-USDC]	0.2851	L −0.1723% / S +0.0247%	pay 0.0031% / 1h	9m 02s	$10K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$72.8
Price spread: +0.036% → 0.000%: $3.65
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$96.15
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 62 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 Gate live order book, 62 min ago	7.01 bp	61.7 bp −$62	doesn't fit	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	0.2851	+0.036%	$10K	—	50x
Phoenix MET	−0.0112%	1h	0.2848	−0.070%	$15K	$13K	5x	as long as short
BloFin MET-USDT	+0.0098%	4h	0.2851	+0.035%	$295K	$83K	50x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2852	+0.070%	$4.3M	$1.3M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2850	−0.004%	$54K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2850	+0.001%	$5.0M	$11.7M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2849	−0.035%	$5.0M	$3.1M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2851	+0.035%	$1.3M	$3.5M	20x	as long as short
Gate MET_USDTlong	+0.0100%	4h	0.2850	long leg	$193K	$190K	50x
MEXC MET_USDT	+0.0100%	4h	0.2849	−0.035%	$1.0M	$280K	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	0.2851	+0.035%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2852	+0.070%	$686K	$873K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2843	−0.246%	$36K	$116K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2850	0.000%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0216%	1h	0.2855	+0.175%	$249K	$268K	5x	as long as short
Backpack MET_USDC_PERP	+0.0474%	1h	0.2854	+0.130%	$332K	$262K	5x	as long as short