Funding arb · Price arb /

METIS

all METIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h −0.008%

Price spread now: BingX against Kraken Futures−0.194%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. BingX is 0.194% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.194% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 2 months of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_METISUSD	3.5158	0.0090	pay 0.0011% / 1h	44m 39s	$2K	$3K	10x
Short	BingX METIS-USDT	3.5090	0.0100	get 0.0050% / 4h	44m 39s	—	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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 Kraken FuturesbpFee BingXbpOrdersPrice spread, now −0.194%Rate

Funding earned: $2.12
Price spread: −0.194% → 0.000%: −$19.4
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$37.28
Costs to cover: 0.200%
Break-even: 130.2 days

Slippage unknown: Kraken Futures: no order-book sample; BingX: live order book, 4 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell BingX live order book, 4 min ago	7.13 bp	36.0 bp −$36	132.5 bp −$1,325	687.0 bp −$68.7K	1289.8 bp −$644.9K

Kraken Futures: 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	−8.698%	—	$40K	5.5x	as long as short
Kraken Futures PF_METISUSDlong	+0.0090%	1h	3.5158	long leg	$2K	$3K	10x
Aster METISUSDT	+0.0100%	4h	3.5035	−0.350%	$12K	$24K	5x	as long as short
Binance METISUSDT	+0.0100%	4h	3.5101	−0.161%	$2.1M	$4.3M	50x	as long as short
Bybit METISUSDT	+0.0100%	4h	3.5160	+0.005%	$696K	$592K	20x	as long as short
OKX METIS-USDT-SWAP	+0.0100%	4h	3.5110	−0.137%	$392K	$974K	10x	as long as short
Gate METIS_USDT	+0.0100%	4h	3.5010	−0.422%	$151K	$140K	50x	as long as short
MEXC METIS_USDT	+0.0100%	4h	3.5100	−0.166%	$650K	$227K	50x	as long as short
Bitget METISUSDT	+0.0100%	4h	3.5040	−0.336%	$212K	$443K	50x	as long as short
BingX METIS-USDTshort	+0.0100%	4h	3.5090	−0.194%	—	$2.4M	—

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni METIS	+0.0100%	4h	3.5148	−0.028%	$33K	$34K	—	as long as short
KuCoin METISUSDTM	+0.0892%	4h	3.5210	+0.147%	$629K	$196K	30x	as long as short