Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1283%/8h= +140.5% APRpaid last 24h +0.023%

Price spread now: BloFin against GMX−0.307%7-day average — · you buy dearer than you sell

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

Long on GMX Short on BloFin

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

Funding pays, the price is against you. BloFin is 0.307% cheaper against GMX than usual: you would sell low and buy high (spread −0.307% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$31 on $10k: about 19 hours of funding at the current rate (+$38 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MET/USD [WBTC.b-USDC]	0.2825	L −0.1180% / S +0.0190%	get 0.0148% / 1h	27m 06s	$9K	—	50x
Short	BloFin MET-USDT	0.2816	0.0103	get 0.0051% / 4h	2h 27m	$291K	$81K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.307%Rate

Funding earned: $269.47
Price spread: −0.307% → 0.000%: −$30.66
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: $214.82
Costs to cover: 0.240%
Break-even: 1.4 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 57 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 BloFin live order book, 57 min ago	1.77 bp	9.8 bp −$10	49.6 bp −$496	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 −0.1180% / S +0.0190%	1h	0.2825	long leg	$9K	—	50x
Phoenix MET	−0.0197%	1h	0.2817	−0.271%	$14K	$13K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2830	+0.203%	$261K	$243K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2829	+0.165%	$4.3M	$1.2M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2819	−0.197%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2827	+0.083%	$5.0M	$11.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2825	+0.005%	$4.9M	$2.8M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2826	+0.047%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2821	−0.130%	$193K	$194K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2825	+0.012%	$930K	$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	0.2822	−0.094%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2824	−0.023%	$663K	$845K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2830	+0.186%	$331K	$252K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2812	−0.448%	$37K	$110K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2825	+0.012%	$2K	$1.6M	20x	as long as short
BloFin MET-USDTshort	+0.0103%	4h	0.2816	−0.307%	$291K	$81K	50x