Funding arb · Price arb /

MMT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0828%/8h= −90.7% APRpaid last 24h −0.105%

Price spread now: Bybit against Gate+0.012%7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$373as in the Funding arb table

Net, price: spread back to 7d avg − costs−$319as in the Price arb table

costs, in and out, $10k−$3233.227% of the position

Long on Gate Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.500%−$50 on $10k

Price spread, last 4 days (all we have)+0.149%+$15 · spread now +0.012%, 7d avg −0.025%

Together, before fees−0.351%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.037% dearer against Gate than usual: you sell high and buy low (spread +0.012% now, against its 7-day average of −0.025%): +$4 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.500% in total) that is about 12 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.500% in total (about -26.1% a year). A funding rate is set anew for every payment. 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	Gate MMT_USDT	0.1682	0.0928	pay 0.0928% / 8h	5h 44m	$565K	$222K	50x
Short	Bybit MMTUSDT	0.1682	0.0100	get 0.0050% / 4h	1h 44m	$1.5M	$800K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Gate. 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 GatebpFee BybitbpOrdersPrice spread, now +0.012%Rate

Funding earned: −$173.88
Price spread: +0.012% → −0.025%: $3.67
Slippage, 4 orders: −$296.69
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$492.9
Costs to cover: 3.227%
Break-even: never at this rate

Slippage from Gate: live order book, 16 min ago; Bybit: live order book, 1 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 Gate live order book, 16 min ago	5.95 bp	53.6 bp −$54	2337.9 bp −$23.4K	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	5.95 bp	103.7 bp −$104	2786.3 bp −$27.9K	doesn't fit	doesn't fit

MMT on 11 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
BloFin MMT-USDT	+0.0042%	4h	0.1682	0.000%	$390K	$9K	50x	as long as short
Aster MMTUSDT	+0.0100%	4h	0.1682	+0.026%	$4K	$31K	5x	as long as short
Binance MMTUSDT	+0.0100%	4h	0.1684	+0.131%	$5.5M	$4.1M	50x	as long as short
Bybit MMTUSDTshort	+0.0100%	4h	0.1682	+0.012%	$1.5M	$800K	25x
OKX MMT-USDT-SWAP	+0.0100%	4h	0.1683	+0.059%	$1.7M	$2.5M	20x	as long as short
MEXC MMT_USDT	+0.0100%	4h	0.1684	+0.119%	$498K	$152K	20x	as long as short
Bitget MMTUSDT	+0.0100%	4h	0.1684	+0.119%	$1.4M	$471K	50x	as long as short
BingX MMT-USDT	+0.0100%	4h	0.1682	0.000%	—	$6.5M	—	as long as short
Variational Omni MMT	+0.0100%	4h	0.1682	−0.017%	$383	$5K	—	as long as short
KuCoin MMTUSDTM	+0.0124%	4h	0.1682	−0.012%	$608K	$90K	50x	as long as short

Show all 11 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate MMT_USDTlong	+0.0928%	8h	0.1682	long leg	$565K	$222K	50x