Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Hyperliquid+0.194%7-day average −0.015% · you sell dearer than you buy

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

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.100%+$10 on $10k

Price spread, last 4 days (all we have)+0.225%+$22 · spread now +0.194%, 7d avg −0.015%

Together, before fees+0.325%+ Points / potential airdropHyperliquid: Season 2 · farm board+$33 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: SunX is 0.209% dearer against Hyperliquid than usual: you sell high and buy low, +$21 on $10k if it goes back to its 7-day average of −0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MET	0.2728	0.0100	pay 0.0013% / 1h	40m 38s	$3.6M	$1.8M	3x
Short	SunX MET-USDT	0.2733	0.0100	get 0.0050% / 4h	2h 40m	$1K	$1.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Hyperliquid. 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 HyperliquidbpFee SunXbpOrdersPrice spread, now +0.194%Rate

Funding earned: $0
Price spread: +0.194% → −0.015%: $20.94
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: $3.94
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 1 min ago; SunX: live order book, 5 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 Hyperliquid live order book, 1 min ago	1.10 bp	12.4 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	501.37 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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]	L −0.0688% / S +0.0202%	1h	0.2733	+0.212%	$4K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2742	+0.543%	$13K	$14K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2726	−0.070%	$166K	$423K	5x	as long as short
Hyperliquid METlong	+0.0100%	1h	0.2728	long leg	$3.6M	$1.8M	3x
Aster METUSDT	+0.0100%	4h	0.2728	+0.019%	$51K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2727	−0.026%	$4.6M	$12.3M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2726	−0.062%	$4.7M	$3.2M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2726	−0.062%	$1.2M	$3.2M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2730	+0.084%	$177K	$184K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2727	−0.026%	$912K	$279K	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	0.2728	+0.011%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2729	+0.048%	$668K	$914K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2731	+0.125%	$307K	$278K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2732	+0.158%	$34K	$119K	50x	as long as short
SunX MET-USDTshort	+0.0100%	4h	0.2733	+0.194%	$1K	$1.6M	20x
BloFin MET-USDT	+0.0137%	4h	0.2736	+0.304%	$279K	$93K	50x	as long as short