Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.1293%/8h= +141.6% APRpaid last 24h +0.027%

Price spread now: SunX against GMX+0.063%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 SunX

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 +$39 a day on $10k at the current rate, and SunX is 0.063% dearer against GMX than usual: you sell high and buy low: +$6 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]	0.2830	L −0.1193% / S +0.0191%	get 0.0149% / 1h	25m 41s	$9K	—	50x
Short	SunX MET-USDT	0.2832	0.0100	get 0.0050% / 4h	2h 25m	$2K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.063%Rate

Funding earned: $271.49
Price spread: +0.063% → 0.000%: $6.32
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: $257.82
Costs to cover: 0.200%
Break-even: 0.4 days

Slippage unknown: GMX: no order-book sample; SunX: live order book, 9 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 SunX live order book, 9 min ago	502.58 bp	doesn't fit	doesn't fit	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 −0.1193% / S +0.0191%	1h	0.2830	long leg	$9K	—	50x
Phoenix MET	−0.0197%	1h	0.2817	−0.467%	$14K	$13K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2837	+0.233%	$262K	$243K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2834	+0.137%	$4.3M	$1.2M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2831	+0.040%	$53K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2832	+0.063%	$5.0M	$11.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2830	−0.018%	$4.9M	$2.8M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2831	+0.028%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2829	−0.043%	$193K	$194K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2831	+0.028%	$932K	$260K	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	0.2829	−0.043%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2832	+0.063%	$665K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2822	−0.290%	$37K	$110K	50x	as long as short
SunX MET-USDTshort	+0.0100%	4h	0.2832	+0.063%	$2K	$1.6M	20x
BloFin MET-USDT	+0.0103%	4h	0.2816	−0.502%	$291K	$81K	50x	as long as short
Backpack MET_USDC_PERP	+0.0114%	1h	0.2834	+0.123%	$331K	$252K	5x	as long as short