Funding you earn now, next payment 08:00 UTC−0.0282%/8h= −30.9% APRnext payment −$1.41 per $10,000 · paid last 24h −0.009%
Price spread now: OKX against BingX−0.028%7-day average −0.002% · you buy dearer than you sell
Net, funding: paid 7d − costs−$151as in the Funding arb table
Net, price: spread back to 7d avg − costs−$136as in the Price arb table
costs, in and out, $10k−$1331.333% of the position
Funding, last 7 days−0.174%−$17 on $10k
+Price spread, last 7 days−0.051%−$5 · spread now −0.028%, 7d avg −0.002%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and OKX is 0.026% cheaper against BingX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.002%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.174% in total (about -9.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.41 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX METIS-USDT | 3.5310 | 0.0382 | pay 0.0191% / 4h | 41m 07s | — | $2.4M | — |
| Short | OKX METIS-USDT-SWAP | 3.5300 | 0.0100 | get 0.0050% / 4h | 41m 07s | $398K | $975K | 10x |
BingX METIS-USDT
OKX METIS-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX against BingX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$59.22
- Price spread: −0.028% → −0.002%
- −$2.64
- Slippage, 4 orders
- −$113.34
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$195.2
- Costs to cover
- 1.333%
- Break-even
- never at this rate
Slippage from BingX: live order book, 7 min ago; OKX: live order book, 50 min ago.
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 BingX live order book, 7 min ago | 11.32 bp | 32.3 bp −$32 | 111.7 bp −$1,117 | 876.1 bp −$87.6K | 1292.5 bp −$646.2K |
| Sell OKX live order book, 50 min ago | 5.71 bp | 32.1 bp −$32 | doesn't fit | doesn't fit | doesn't fit |
METIS on 12 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective METIS/USDC PERP | +0.0033% | 1h | 3.2100 | −9.091% | — | $40K | 5.5x | as long as short |
| Aster METISUSDT | +0.0100% | 4h | 3.5277 | −0.094% | $11K | $23K | 5x | as long as short |
| Binance METISUSDT | +0.0100% | 4h | 3.5290 | −0.057% | $2.2M | $3.9M | 50x | as long as short |
| OKX METIS-USDT-SWAPshort | +0.0100% | 4h | 3.5300 | −0.028% | $398K | $975K | 10x | |
| Gate METIS_USDT | +0.0100% | 4h | 3.5300 | −0.028% | $149K | $121K | 50x | as long as short |
| MEXC METIS_USDT | +0.0100% | 4h | 3.5290 | −0.057% | $688K | $216K | 50x | as long as short |
| KuCoin METISUSDTM | +0.0100% | 4h | 3.5350 | +0.113% | $601K | $134K | 30x | as long as short |
| Bitget METISUSDT | +0.0100% | 4h | 3.5290 | −0.057% | $206K | $416K | 50x | as long as short |
| Variational Omni METIS | +0.0100% | 4h | 3.5308 | −0.005% | $33K | $34K | — | as long as short |
| Kraken Futures PF_METISUSD | +0.0141% | 1h | 3.5297 | −0.036% | $2K | $2K | 10x | as long as short |
Injective METIS/USDC PERP
Aster METISUSDT
Binance METISUSDT
Gate METIS_USDT
MEXC METIS_USDT
KuCoin METISUSDTM
Bitget METISUSDT
Variational Omni METIS
Kraken Futures PF_METISUSDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit METISUSDT | +0.0378% | 4h | 3.5330 | +0.057% | $701K | $564K | 20x | as long as short |
| BingX METIS-USDTlong | +0.0382% | 4h | 3.5310 | long leg | — | $2.4M | — |
Bybit METISUSDT