Funding you earn now, next payment 04:00 UTC+0.0606%/8h= +66.4% APRnext payment +$3.03 per $10,000 · paid last 24h +0.013%
Price spread now: Bybit against OKX+0.028%7-day average +0.092% · you sell dearer than you buy
Net, funding: paid 7d − costs−$315as in the Funding arb table
Net, price: spread back to 7d avg − costs−$336as in the Price arb table
costs, in and out, $10k−$3293.292% of the position
Funding, last 7 days+0.142%+$14 on $10k
+Price spread, last 4 days (all we have)+0.066%+$7 · spread now +0.028%, 7d avg +0.092%
=Funding pays, the price is against you. Bybit is 0.064% cheaper against OKX than usual: you would sell low and buy high (spread +0.028% now, against its 7-day average of +0.092%). If the spread goes back, that is −$6 on $10k: about 8 hours of funding at the current rate (+$18 a day). At the pace of the last 7 days (+0.142% in total) that is about 3.1 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.142% in total (about 7.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.03 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 | OKX METIS-USDT-SWAP | 3.5720 | 0.0509 | pay 0.0255% / 4h | 2h 27m | $402K | $1.1M | 10x |
| Short | Bybit METISUSDT | 3.5730 | 0.1115 | get 0.0558% / 4h | 2h 27m | $718K | $632K | 20x |
OKX METIS-USDT-SWAP
Bybit METISUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against OKX. 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
- $127.33
- Price spread: +0.028% → +0.092%
- −$6.35
- Slippage, 4 orders
- −$308.2
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$208.22
- Costs to cover
- 3.292%
- Break-even
- 18.4 days
Slippage from OKX: live order book, 4 min ago; Bybit: live order book, 37 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 OKX live order book, 4 min ago | 4.23 bp | 30.1 bp −$30 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 37 min ago | 9.79 bp | 155.6 bp −$156 | 1060.5 bp −$10.6K | 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 | −10.134% | — | $40K | 5.5x | as long as short |
| Aster METISUSDT | +0.0100% | 4h | 3.5665 | −0.153% | $12K | $22K | 5x | as long as short |
| Binance METISUSDT | +0.0100% | 4h | 3.5611 | −0.306% | $2.2M | $4.6M | 50x | as long as short |
| Gate METIS_USDT | +0.0100% | 4h | 3.5640 | −0.224% | $156K | $142K | 50x | as long as short |
| MEXC METIS_USDT | +0.0100% | 4h | 3.5660 | −0.168% | $661K | $245K | 50x | as long as short |
| Bitget METISUSDT | +0.0100% | 4h | 3.5690 | −0.084% | $226K | $462K | 50x | as long as short |
| Kraken Futures PF_METISUSD | +0.0252% | 1h | 3.5648 | −0.202% | $2K | $7K | 10x | as long as short |
| Variational Omni METIS | +0.0401% | 4h | 3.5499 | −0.617% | $41K | $26K | — | as long as short |
| KuCoin METISUSDTM | +0.0492% | 4h | 3.5720 | 0.000% | $640K | $220K | 30x | as long as short |
| OKX METIS-USDT-SWAPlong | +0.0509% | 4h | 3.5720 | long leg | $402K | $1.1M | 10x |
Injective METIS/USDC PERP
Aster METISUSDT
Binance METISUSDT
Gate METIS_USDT
MEXC METIS_USDT
Bitget METISUSDT
Kraken Futures PF_METISUSD
Variational Omni METIS
KuCoin METISUSDTMShow all 12 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| BingX METIS-USDT | +0.1006% | 4h | 3.5690 | −0.084% | — | $2.4M | — | as long as short |
| Bybit METISUSDTshort | +0.1115% | 4h | 3.5730 | +0.028% | $718K | $632K | 20x |
BingX METIS-USDT