Funding you earn now, next payment 08:00 UTC−0.0927%/8h= −101.5% APRnext payment −$4.64 per $10,000 · paid last 24h −0.022%
Price spread now: Gate against Bybit−0.029%7-day average −0.070% · you buy dearer than you sell
Net, funding: paid 7d − costs−$394as in the Funding arb table
Net, price: spread back to 7d avg − costs−$382as in the Price arb table
costs, in and out, $10k−$3863.859% of the position
Funding, last 7 days−0.082%−$8 on $10k
+Price spread, last 4 days (all we have)−0.078%−$8 · spread now −0.029%, 7d avg −0.070%
=The price spread pays, funding is against you. Gate is 0.042% dearer against Bybit than usual: you sell high and buy low (spread −0.029% now, against its 7-day average of −0.070%): +$4 on $10k if it goes back. Holding the pair costs −$28 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.082% in total) that is about 3.5 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.082% in total (about -4.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$4.64 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 | Bybit METISUSDT | 3.5010 | 0.1027 | pay 0.0514% / 4h | 1h 44m | $693K | $571K | 20x |
| Short | Gate METIS_USDT | 3.5000 | 0.0100 | get 0.0050% / 4h | 1h 44m | $147K | $121K | 50x |
Bybit METISUSDT
Gate METIS_USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Gate against Bybit. 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
- −$194.75
- Price spread: −0.029% → −0.070%
- $4.17
- Slippage, 4 orders
- −$359.88
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Net
- −$576.46
- Costs to cover
- 3.859%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 60 min ago; Gate: live order book, 56 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 Bybit live order book, 60 min ago | 7.21 bp | 115.1 bp −$115 | 698.6 bp −$6,986 | doesn't fit | doesn't fit |
| Sell Gate live order book, 56 min ago | 10.17 bp | 98.7 bp −$99 | 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 | −8.312% | — | $40K | 5.5x | as long as short |
| Aster METISUSDT | +0.0100% | 4h | 3.5000 | −0.029% | $11K | $24K | 5x | as long as short |
| Binance METISUSDT | +0.0100% | 4h | 3.5001 | −0.026% | $2.1M | $4.0M | 50x | as long as short |
| OKX METIS-USDT-SWAP | +0.0100% | 4h | 3.5040 | +0.086% | $393K | $976K | 10x | as long as short |
| Gate METIS_USDTshort | +0.0100% | 4h | 3.5000 | −0.029% | $147K | $121K | 50x | |
| MEXC METIS_USDT | +0.0100% | 4h | 3.5000 | −0.029% | $683K | $229K | 50x | as long as short |
| Bitget METISUSDT | +0.0100% | 4h | 3.5020 | +0.029% | $206K | $423K | 50x | as long as short |
| Variational Omni METIS | +0.0217% | 4h | 3.4949 | −0.175% | $33K | $34K | — | as long as short |
| KuCoin METISUSDTM | +0.0652% | 4h | 3.5070 | +0.171% | $602K | $162K | 30x | as long as short |
| Kraken Futures PF_METISUSD | +0.0783% | 1h | 3.4958 | −0.149% | $2K | $2K | 10x | as long as short |
Injective METIS/USDC PERP
Aster METISUSDT
Binance METISUSDT
OKX METIS-USDT-SWAP
MEXC METIS_USDT
Bitget METISUSDT
Variational Omni METIS
KuCoin METISUSDTM
Kraken Futures PF_METISUSDShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit METISUSDTlong | +0.1027% | 4h | 3.5010 | long leg | $693K | $571K | 20x | |
| BingX METIS-USDT | +0.1126% | 4h | 3.5010 | 0.000% | — | $2.4M | — | as long as short |
BingX METIS-USDT