Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0314%/8h= −34.4% APRpaid last 24h −0.080%

Price spread now: GMX against KuCoin−0.056%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 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 against this trade now: funding costs −$9 a day on $10k at the current rate, and GMX is 0.056% cheaper against KuCoin than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METUSDTM	0.2754	0.0100	pay 0.0050% / 4h	3h 46m	$1.3M	$2.7M	50x
Short	GMX MET/USD [WBTC.b-USDC]	0.2752	L −0.0738% / S +0.0214%	pay 0.0027% / 1h	46m 11s	$4K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against KuCoin. 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 KuCoinbpFee GMXbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$66.03
Price spread: −0.056% → 0.000%: −$5.59
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$95.62
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 11 min ago; GMX: no order-book sample. 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 KuCoin live order book, 11 min ago	5.49 bp	78.6 bp −$79	298.4 bp −$2,984	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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]short	L −0.0738% / S +0.0214%	1h	0.2752	−0.056%	$4K	—	50x
Phoenix MET	−0.0206%	1h	0.2739	−0.545%	$13K	$14K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2756	+0.080%	$169K	$435K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2754	−0.007%	$3.6M	$1.9M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2755	+0.047%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2751	−0.109%	$4.6M	$12.6M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2752	−0.058%	$4.7M	$3.3M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2754	0.000%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2754	0.000%	$174K	$168K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2752	−0.073%	$845K	$288K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTMlong	+0.0100%	4h	0.2754	long leg	$1.3M	$2.7M	50x
Bitget METUSDT	+0.0100%	4h	0.2756	+0.073%	$685K	$929K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2744	−0.363%	$34K	$117K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2751	−0.109%	$1K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0158%	4h	0.2752	−0.073%	$273K	$90K	50x	as long as short
Backpack MET_USDC_PERP	+0.0370%	1h	0.2755	+0.029%	$315K	$249K	5x	as long as short