Funding arb · Price arb /

METIS

all METIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Variational Omni against BingX+0.140%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.140% dearer against BingX than usual: you sell high and buy low, +$14 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX METIS-USDT	3.5010	0.0100	pay 0.0050% / 4h	3m 56s	—	$2.4M	—
Short	Variational Omni METIS	3.5059	0.0100	get 0.0050% / 4h	3m 56s	$33K	$34K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BingXbpFee Variational OmnibpOrdersPrice spread, now +0.140%Rate

Funding earned: $0
Price spread: +0.140% → 0.000%: $13.96
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $3.96
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 5 min ago; Variational Omni: 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 BingX live order book, 5 min ago	8.52 bp	32.2 bp −$32	107.5 bp −$1,075	896.4 bp −$89.6K	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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.

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	−8.312%	—	$40K	5.5x	as long as short
Kraken Futures PF_METISUSD	+0.0090%	1h	3.5094	+0.241%	$2K	$3K	10x	as long as short
Aster METISUSDT	+0.0100%	4h	3.5027	+0.048%	$12K	$24K	5x	as long as short
Binance METISUSDT	+0.0100%	4h	3.5015	+0.014%	$2.1M	$4.3M	50x	as long as short
Bybit METISUSDT	+0.0100%	4h	3.5040	+0.086%	$691K	$591K	20x	as long as short
OKX METIS-USDT-SWAP	+0.0100%	4h	3.5090	+0.229%	$393K	$977K	10x	as long as short
Gate METIS_USDT	+0.0100%	4h	3.4950	−0.171%	$151K	$141K	50x	as long as short
MEXC METIS_USDT	+0.0100%	4h	3.5000	−0.029%	$707K	$240K	50x	as long as short
Bitget METISUSDT	+0.0100%	4h	3.5020	+0.029%	$207K	$449K	50x	as long as short
BingX METIS-USDTlong	+0.0100%	4h	3.5010	long leg	—	$2.4M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni METISshort	+0.0100%	4h	3.5059	+0.140%	$33K	$34K	—
KuCoin METISUSDTM	+0.0926%	4h	3.5160	+0.428%	$629K	$194K	30x	as long as short