Funding you earn now, next payment 04:00 UTC+0.0066%/8h= +7.3% APRnext payment +$0.33 per $10,000 · paid last 24h −0.013%
Price spread now: OKX against Bybit−0.254%7-day average −0.092% · you buy dearer than you sell
Net, funding: paid 7d − costs−$328as in the Funding arb table
Net, price: spread back to 7d avg − costs−$330as in the Price arb table
costs, in and out, $10k−$3143.142% of the position
Funding, last 7 days−0.142%−$14 on $10k
+Price spread, last 4 days (all we have)+0.036%+$4 · spread now −0.254%, 7d avg −0.092%
=Funding pays, the price is against you. OKX is 0.162% cheaper against Bybit than usual: you would sell low and buy high (spread −0.254% now, against its 7-day average of −0.092%). If the spread goes back, that is −$16 on $10k: about 8.1 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.142%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit METISUSDT | 3.5380 | 0.0100 | pay 0.0050% / 4h | 1h 36m | $698K | $589K | 20x |
| Short | OKX METIS-USDT-SWAP | 3.5290 | 0.0166 | get 0.0083% / 4h | 1h 36m | $395K | $989K | 10x |
Bybit METISUSDT
OKX METIS-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- $13.92
- Price spread: −0.254% → −0.092%
- −$16.19
- Slippage, 4 orders
- −$293.2
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$316.48
- Costs to cover
- 3.142%
- Break-even
- 166.2 days
Slippage from Bybit: live order book, 23 min ago; OKX: live order book, 15 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, 23 min ago | 8.45 bp | 110.9 bp −$111 | 438.3 bp −$4,383 | doesn't fit | doesn't fit |
| Sell OKX live order book, 15 min ago | 9.89 bp | 45.6 bp −$46 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_METISUSD | −0.0014% | 1h | 3.5338 | −0.119% | $2K | $5K | 10x | as long as short |
| Injective METIS/USDC PERP | +0.0033% | 1h | 3.2100 | −9.271% | — | $40K | 5.5x | as long as short |
| Aster METISUSDT | +0.0100% | 4h | 3.5321 | −0.165% | $12K | $22K | 5x | as long as short |
| Binance METISUSDT | +0.0100% | 4h | 3.5330 | −0.141% | $2.2M | $4.2M | 50x | as long as short |
| Bybit METISUSDTlong | +0.0100% | 4h | 3.5380 | long leg | $698K | $589K | 20x | |
| Gate METIS_USDT | +0.0100% | 4h | 3.5300 | −0.226% | $152K | $139K | 50x | as long as short |
| MEXC METIS_USDT | +0.0100% | 4h | 3.5330 | −0.141% | $654K | $236K | 50x | as long as short |
| Bitget METISUSDT | +0.0100% | 4h | 3.5300 | −0.226% | $218K | $436K | 50x | as long as short |
| Variational Omni METIS | +0.0100% | 4h | 3.5348 | −0.090% | $33K | $33K | — | as long as short |
| OKX METIS-USDT-SWAPshort | +0.0166% | 4h | 3.5290 | −0.254% | $395K | $989K | 10x |
Kraken Futures PF_METISUSD
Injective METIS/USDC PERP
Aster METISUSDT
Binance METISUSDT
Gate METIS_USDT
MEXC METIS_USDT
Bitget METISUSDT
Variational Omni METISShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX METIS-USDT | +0.0184% | 4h | 3.5340 | −0.113% | — | $2.4M | — | as long as short |
| KuCoin METISUSDTM | +0.0448% | 4h | 3.5330 | −0.141% | $633K | $198K | 30x | as long as short |
BingX METIS-USDT
KuCoin METISUSDTM