MET

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0231%/8h= +25.3% APRnext payment +$0.29 per $10,000 · paid last 24h +0.066%

Price spread now: Backpack against ApeX Omni+0.057%84s7-day average +0.173% · you sell dearer than you buy

Net, funding: paid 7d − costs−$655as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$6876.870% of the position

Long on ApeX Omni Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.322%+$32 on $10k

Price spread, last 3 days (all we have)+0.070%+$7 · spread now +0.057%, 7d avg +0.173%

Together, before fees+0.392%+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.116% cheaper against ApeX Omni than usual: you would sell low and buy high (spread +0.057% now, against its 7-day average of +0.173%). If the spread goes back, that is −$12 on $10k: about 40 hours of funding at the current rate (+$7 a day). The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni METUSDT	0.2814	0.0100	pay 0.0013% / 1h	11m 41s	$37K	$110K	50x
Short	Backpack MET_USDC_PERP	0.2816	0.0331	get 0.0041% / 1h	11m 41s	$329K	$251K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against ApeX Omni. 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 ApeX OmnibpFee BackpackbpOrdersPrice spread, now +0.057%Rate

Funding earned: $48.6
Price spread: +0.057% → +0.173%: −$11.62
Slippage, 4 orders: −$666.95
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$649.98
Costs to cover: 6.870%
Break-even: 100.6 days

Slippage from ApeX Omni: live order book, 9 min ago; Backpack: live order book, 12 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 ApeX Omni live order book, 9 min ago	37.07 bp	325.6 bp −$326	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 12 min ago	2.12 bp	16.6 bp −$17	doesn't fit	doesn't fit	doesn't fit

MET on 16 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
GMX MET/USD [WBTC.b-USDC]	L −0.1356% / S +0.0208%	1h	0.2814	−0.017%	$9K	—	50x	as long as short
Phoenix MET	−0.0197%	1h	0.2838	+0.846%	$14K	$13K	5x	as long as short
BloFin MET-USDT	+0.0095%	4h	0.2830	+0.569%	$292K	$78K	50x	as long as short
Lighter MET	+0.0096%	1h	0.2820	+0.224%	$260K	$243K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2815	+0.032%	$4.3M	$1.2M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2817	+0.102%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2814	0.000%	$4.9M	$11.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2814	0.000%	$4.9M	$2.8M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2814	0.000%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2815	+0.036%	$192K	$195K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MET_USDT	+0.0100%	4h	0.2813	−0.036%	$927K	$261K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2814	0.000%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2817	+0.107%	$662K	$845K	25x	as long as short
ApeX Omni METUSDTlong	+0.0100%	1h	0.2814	long leg	$37K	$110K	50x
SunX MET-USDT	+0.0100%	4h	0.2815	+0.036%	$2K	$1.6M	20x	as long as short
Backpack MET_USDC_PERPshort	+0.0331%	1h	0.2816	+0.057%	$329K	$251K	5x