METIS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0530%/8h= +58.0% APRnext payment +$2.65 per $10,000 · paid last 24h +0.074%

Price spread now: KuCoin against OKX+0.624%7-day average +0.127% · you sell dearer than you buy

Net, funding: paid 7d − costs−$461as in the Funding arb table

Net, price: spread back to 7d avg − costs−$422as in the Price arb table

costs, in and out, $10k−$4714.714% of the position

Long on OKX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.103%+$10 on $10k

Price spread, last 4 days (all we have)−0.812%−$81 · spread now +0.624%, 7d avg +0.127%

Together, before fees−0.709%−$71 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and KuCoin is 0.497% dearer against OKX than usual: you sell high and buy low: +$50 more if the spread goes back to its 7-day average of +0.127%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.103% in total (about 5.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.65 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	3.5240	0.0100	pay 0.0050% / 4h	3h 44m	$392K	$972K	10x
Short	KuCoin METISUSDTM	3.5460	0.0630	get 0.0315% / 4h	3h 44m	$682K	$154K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against OKX. 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 OKXbpFee KuCoinbpOrdersPrice spread, now +0.624%Rate

Funding earned: $111.3
Price spread: +0.624% → +0.127%: $49.72
Slippage, 4 orders: −$449.43
Fee OKX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$310.41
Costs to cover: 4.714%
Break-even: 26.5 days

Slippage from OKX: live order book, 42 min ago; KuCoin: live order book, 60 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, 42 min ago	9.99 bp	32.6 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 60 min ago	21.24 bp	196.4 bp −$196	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	−0.0111%	1h	3.5244	+0.012%	$2K	$2K	10x	as long as short
Injective METIS/USDC PERP	+0.0033%	1h	3.2100	−8.910%	—	$40K	5.5x	as long as short
Aster METISUSDT	+0.0100%	4h	3.5285	+0.127%	$11K	$23K	5x	as long as short
Binance METISUSDT	+0.0100%	4h	3.5220	−0.058%	$2.2M	$3.9M	50x	as long as short
OKX METIS-USDT-SWAPlong	+0.0100%	4h	3.5240	long leg	$392K	$972K	10x
Gate METIS_USDT	+0.0100%	4h	3.5250	+0.028%	$142K	$120K	50x	as long as short
MEXC METIS_USDT	+0.0100%	4h	3.5220	−0.057%	$680K	$213K	50x	as long as short
Bitget METISUSDT	+0.0100%	4h	3.5260	+0.057%	$207K	$413K	50x	as long as short
Variational Omni METIS	+0.0100%	4h	3.5309	+0.196%	$33K	$34K	—	as long as short
KuCoin METISUSDTMshort	+0.0630%	4h	3.5460	+0.624%	$682K	$154K	30x

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX METIS-USDT	+0.1948%	4h	3.5300	+0.170%	—	$2.4M	—	as long as short
Bybit METISUSDT	+0.3936%	4h	3.5230	−0.028%	$700K	$568K	20x	as long as short