Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1701%/8h= +186.3% APRpaid last 24h +0.053%

Price spread now: Bitget against GMX+0.077%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Bitget

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

Both sides work for this trade now. Funding pays +$51 a day on $10k at the current rate, and Bitget is 0.077% dearer against GMX than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MET/USD [WBTC.b-USDC]	0.2824	L −0.1601% / S +0.0234%	get 0.0200% / 1h	50m 49s	$9K	—	50x
Short	Bitget METUSDT	0.2826	0.0100	get 0.0050% / 4h	1h 50m	$664K	$845K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against GMX. 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 GMXbpFee BitgetbpOrdersPrice spread, now +0.077%Rate

Funding earned: $357.22
Price spread: +0.077% → 0.000%: $7.72
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: $340.94
Costs to cover: 0.240%
Break-even: 0.3 days

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 30 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 GMX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 30 min ago	8.81 bp	26.0 bp −$26	78.8 bp −$788	doesn't fit	doesn't fit

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]long	L −0.1601% / S +0.0234%	1h	0.2824	long leg	$9K	—	50x
Phoenix MET	−0.0114%	1h	0.2834	+0.353%	$14K	$13K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2825	+0.028%	$4.3M	$1.2M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2824	+0.002%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2824	0.000%	$4.9M	$11.1M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2824	+0.006%	$4.9M	$2.9M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2827	+0.113%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2826	+0.077%	$193K	$187K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2824	+0.006%	$944K	$259K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2825	+0.042%	$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 METUSDTshort	+0.0100%	4h	0.2826	+0.077%	$664K	$845K	25x
ApeX Omni METUSDT	+0.0100%	1h	0.2818	−0.206%	$36K	$111K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2823	−0.029%	$1K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0147%	4h	0.2824	+0.006%	$288K	$78K	50x	as long as short
Lighter MET	+0.0200%	1h	0.2829	+0.169%	$261K	$244K	5x	as long as short
Backpack MET_USDC_PERP	+0.0714%	1h	0.2826	+0.059%	$330K	$251K	5x	as long as short