Funding arb · Price arb /

MTL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.007%

Price spread now: Binance against Gate+0.065%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$836as in the Funding arb table

Net, price: spread back to 7d avg − costs−$666as in the Price arb table

costs, in and out, $10k−$6726.718% of the position

Long on Gate Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−1.639%−$164 on $10k

Price spread, last 4 days (all we have)−0.248%−$25 · spread now +0.065%, 7d avg +0.003%

Together, before fees−1.887%−$189 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.062% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MTL_USDT	0.3099	0.0100	pay 0.0050% / 4h	2h 41m	$166K	$37K	25x
Short	Binance MTLUSDT	0.3101	0.0100	get 0.0050% / 4h	2h 41m	$1.8M	$3.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.065%Rate

Funding earned: $0
Price spread: +0.065% → +0.003%: $6.2
Slippage, 4 orders: −$646.78
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Binance: 5 bp × 2 orders: −$10
Net: −$665.58
Costs to cover: 6.718%
Break-even: never at this rate

Slippage from Gate: live order book, 42 min ago; Binance: live order book, 10 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, 42 min ago	9.65 bp	295.3 bp −$295	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	3.22 bp	30.9 bp −$31	118.2 bp −$1,182	doesn't fit	doesn't fit

MTL on 9 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
BingX MTL-USDT	+0.0036%	4h	0.3096	−0.097%	—	$1.3M	—	as long as short
BloFin MTL-USDT	+0.0048%	4h	0.3100	+0.032%	$120K	$5K	50x	as long as short
Aster MTLUSDT	+0.0100%	1h	0.3107	+0.267%	$2K	$8K	5x	as long as short
Binance MTLUSDTshort	+0.0100%	4h	0.3101	+0.065%	$1.8M	$3.5M	50x
Gate MTL_USDTlong	+0.0100%	4h	0.3099	long leg	$166K	$37K	25x
MEXC MTL_USDT	+0.0100%	4h	0.3101	+0.065%	$269K	$133K	50x	as long as short
KuCoin MTLUSDTM	+0.0100%	4h	0.3103	+0.129%	$658K	$25K	30x	as long as short
Bitget MTLUSDT	+0.0100%	4h	0.3097	−0.065%	$344K	$93K	25x	as long as short
Bybit MTLUSDT	+0.1549%	8h	0.3093	−0.194%	$1.0M	$689K	25x	as long as short