Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.165%

Price spread now: Phoenix against MEXC+0.146%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 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 pays, funding is against you. Phoenix is 0.146% dearer against MEXC than usual: you sell high and buy low (spread +0.146% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MET_USDT	0.2805	0.0100	pay 0.0050% / 4h	2h 49m	$971K	$278K	20x
Short	Phoenix MET	0.2809	0	get 0.0000% / 1h	49m 04s	$14K	$15K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against MEXC. 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 MEXCbpFee PhoenixbpOrdersPrice spread, now +0.146%Rate

Funding earned: −$21
Price spread: +0.146% → 0.000%: $14.62
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$17.38
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: MEXC: live order book, 22 min ago; Phoenix: 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 MEXC live order book, 22 min ago	3.51 bp	13.8 bp −$14	45.7 bp −$457	198.2 bp −$19.8K	653.7 bp −$326.8K
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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]	L −0.1723% / S +0.0247%	1h	0.2805	+0.012%	$9K	—	50x	as long as short
Phoenix METshort	0.0000%	1h	0.2809	+0.146%	$14K	$15K	5x
BloFin MET-USDT	+0.0069%	4h	0.2803	−0.071%	$289K	$89K	50x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2806	+0.036%	$3.9M	$1.6M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2807	+0.068%	$53K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2804	−0.026%	$4.8M	$12.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2805	−0.007%	$4.9M	$3.1M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2806	+0.036%	$1.2M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2806	+0.036%	$181K	$178K	50x	as long as short
MEXC MET_USDTlong	+0.0100%	4h	0.2805	long leg	$971K	$278K	20x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2805	0.000%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2806	+0.036%	$656K	$884K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2807	+0.061%	$319K	$277K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2803	−0.071%	$36K	$117K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2807	+0.071%	$1K	$1.6M	20x	as long as short
Lighter MET	+0.0240%	1h	0.2805	0.000%	$230K	$305K	5x	as long as short