Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against SunX+0.035%7-day average −0.012% · you sell dearer than you buy

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

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.151%−$15 on $10k

Price spread, last 3 days (all we have)−0.641%−$64 · spread now +0.035%, 7d avg −0.012%

Together, before fees−0.791%−$79 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: Bybit is 0.047% dearer against SunX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MET-USDT	0.2857	0.0100	pay 0.0050% / 4h	59m 08s	$2K	$1.6M	20x
Short	Bybit METUSDT	0.2858	0.0100	get 0.0050% / 4h	59m 08s	$4.9M	$2.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now +0.035%Rate

Funding earned: $0
Price spread: +0.035% → −0.012%: $4.71
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$14.29
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 6 min ago; Bybit: live order book, 4 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 SunX live order book, 6 min ago	502.36 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	1.75 bp	40.1 bp −$40	171.1 bp −$1,711	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 −0.1723% / S +0.0247%	1h	0.2857	+0.013%	$10K	—	50x	as long as short
Phoenix MET	−0.0114%	1h	0.2859	+0.067%	$14K	$13K	5x	as long as short
BloFin MET-USDT	+0.0053%	4h	0.2861	+0.140%	$294K	$79K	50x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2861	+0.137%	$4.3M	$1.3M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2858	+0.039%	$54K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2858	+0.040%	$5.0M	$11.2M	50x	as long as short
Bybit METUSDTshort	+0.0100%	4h	0.2858	+0.035%	$4.9M	$2.9M	25x
OKX MET-USDT-SWAP	+0.0100%	4h	0.2863	+0.210%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2857	0.000%	$193K	$187K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2856	−0.035%	$980K	$271K	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	0.2858	+0.035%	$1.3M	$2.5M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2860	+0.105%	$680K	$855K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2851	−0.210%	$37K	$112K	50x	as long as short
SunX MET-USDTlong	+0.0100%	4h	0.2857	long leg	$2K	$1.6M	20x
Lighter MET	+0.0128%	1h	0.2865	+0.291%	$265K	$247K	5x	as long as short
Backpack MET_USDC_PERP	+0.1000%	1h	0.2861	+0.140%	$332K	$257K	5x	as long as short