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 OKX−0.121%62s7-day average — · you buy dearer than you sell

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

Long on OKX 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 0.121% cheaper against OKX than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MET-USDT-SWAP	0.2799	0.0100	pay 0.0050% / 4h	3h 16m	$1.2M	$3.3M	20x
Short	GMX MET/USD [WBTC.b-USDC]	0.2796	L −0.0633% / S +0.0214%	pay 0.0027% / 1h	16m 16s	$4K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −0.121%Rate

Funding earned: −$66.03
Price spread: −0.121% → 0.000%: −$12.11
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$100.14
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 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 OKX live order book, 1 min ago	1.79 bp	20.4 bp −$20	doesn't fit	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 −0.0633% / S +0.0214%	1h	0.2796	−0.121%	$4K	—	50x
Phoenix MET	−0.0206%	1h	0.2775	−0.865%	$14K	$14K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2802	+0.107%	$172K	$435K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2798	−0.025%	$3.7M	$1.8M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2799	+0.006%	$53K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2797	−0.073%	$4.6M	$12.5M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2798	−0.043%	$4.8M	$3.3M	25x	as long as short
OKX MET-USDT-SWAPlong	+0.0100%	4h	0.2799	long leg	$1.2M	$3.3M	20x
Gate MET_USDT	+0.0100%	4h	0.2796	−0.107%	$174K	$176K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2797	−0.071%	$851K	$291K	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	0.2798	−0.036%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2800	+0.036%	$696K	$879K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2773	−0.929%	$34K	$117K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2795	−0.143%	$2K	$1.6M	20x	as long as short
BloFin MET-USDT	+0.0101%	4h	0.2796	−0.107%	$276K	$92K	50x	as long as short
Backpack MET_USDC_PERP	+0.0237%	1h	0.2798	−0.043%	$319K	$248K	5x	as long as short