Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0763%/8h= +83.6% APRpaid last 24h +0.217%

Price spread now: Bybit against GMX+0.018%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 Bybit

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$23 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MET/USD [WBTC.b-USDC]	0.2726	L −0.0738% / S +0.0214%	get 0.0092% / 1h	44m 39s	$4K	—	50x
Short	Bybit METUSDT	0.2726	0.0026	get 0.0013% / 4h	1h 44m	$4.7M	$3.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.018%Rate

Funding earned: $160.28
Price spread: +0.018% → 0.000%: $1.83
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $139.12
Costs to cover: 0.230%
Break-even: 0.9 days

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 3 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 Bybit live order book, 3 min ago	5.51 bp	39.3 bp −$39	172.6 bp −$1,726	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 −0.0738% / S +0.0214%	1h	0.2726	long leg	$4K	—	50x
Phoenix MET	−0.0029%	1h	0.2720	−0.202%	$13K	$14K	5x	as long as short
Bybit METUSDTshort	+0.0026%	4h	0.2726	+0.018%	$4.7M	$3.2M	25x
Lighter MET	+0.0096%	1h	0.2731	+0.209%	$166K	$430K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2727	+0.055%	$3.6M	$1.9M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2725	−0.014%	$51K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2727	+0.044%	$4.6M	$12.7M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2726	+0.018%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2724	−0.055%	$170K	$194K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2726	+0.018%	$839K	$289K	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	0.2725	−0.018%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2727	+0.055%	$667K	$962K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2726	+0.029%	$307K	$278K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2717	−0.312%	$34K	$120K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2727	+0.055%	$2K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0120%	4h	0.2721	−0.165%	$274K	$90K	50x	as long as short