Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0278%/8h= −30.5% APRpaid last 24h −0.078%

Price spread now: GMX against SunX+0.035%7-day average — · you sell dearer than you buy

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

Long on SunX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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. GMX is 0.035% dearer against SunX than usual: you sell high and buy low (spread +0.035% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX MET-USDT	0.2721	0.0100	pay 0.0050% / 4h	46m 38s	$2K	$1.6M	20x
Short	GMX MET/USD [WBTC.b-USDC]	0.2722	L −0.0599% / S +0.0178%	pay 0.0022% / 1h	46m 38s	$4K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$58.46
Price spread: +0.035% → 0.000%: $3.45
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: −$75.01
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 9 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 SunX live order book, 9 min ago	501.66 bp	doesn't fit	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 −0.0599% / S +0.0178%	1h	0.2722	+0.035%	$4K	—	50x
Phoenix MET	−0.0059%	1h	0.2720	−0.037%	$13K	$14K	5x	as long as short
BloFin MET-USDT	+0.0095%	4h	0.2722	+0.037%	$271K	$89K	50x	as long as short
Lighter MET	+0.0096%	1h	0.2728	+0.254%	$165K	$436K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2720	−0.022%	$3.6M	$1.9M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2722	+0.022%	$51K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2721	+0.016%	$4.6M	$12.8M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2719	−0.074%	$4.7M	$3.3M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2725	+0.147%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2720	−0.037%	$170K	$190K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MET_USDT	+0.0100%	4h	0.2720	−0.037%	$808K	$285K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2722	+0.037%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2719	−0.074%	$676K	$962K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2722	+0.055%	$311K	$287K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2712	−0.331%	$34K	$119K	50x	as long as short
SunX MET-USDTlong	+0.0100%	4h	0.2721	long leg	$2K	$1.6M	20x