Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.053%

Price spread now: Aster against Backpack−0.069%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.069% cheaper against Backpack than usual: you would sell low and buy high, −$7 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack MET_USDC_PERP	0.2763	0.0100	pay 0.0013% / 1h	8m 12s	$312K	$272K	5x
Short	Aster METUSDT	0.2761	0.0100	get 0.0050% / 4h	3h 08m	$52K	$11K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Backpack. 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 BackpackbpFee AsterbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0
Price spread: −0.069% → 0.000%: −$6.87
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$24.87
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 45 min ago; Aster: no order-book sample. Net counts fees only.

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 Backpack live order book, 45 min ago	1.60 bp	14.3 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Aster no order-book sample	—	—	—	—	—

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 −0.0587% / S +0.0175%	1h	0.2761	−0.074%	$4K	—	50x	as long as short
Phoenix MET	−0.0029%	1h	0.2770	+0.250%	$13K	$15K	5x	as long as short
BloFin MET-USDT	+0.0080%	4h	0.2772	+0.322%	$283K	$88K	50x	as long as short
Lighter MET	+0.0096%	1h	0.2762	−0.040%	$168K	$424K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2761	−0.076%	$3.7M	$1.7M	3x	as long as short
Aster METUSDTshort	+0.0100%	4h	0.2761	−0.069%	$52K	$11K	5x
Binance METUSDT	+0.0100%	4h	0.2761	−0.076%	$4.7M	$12.1M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2759	−0.138%	$4.8M	$3.1M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2764	+0.033%	$1.2M	$3.2M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2760	−0.112%	$179K	$174K	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	0.2761	−0.076%	$927K	$282K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2762	−0.040%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2762	−0.040%	$658K	$865K	25x	as long as short
Backpack MET_USDC_PERPlong	+0.0100%	1h	0.2763	long leg	$312K	$272K	5x
ApeX Omni METUSDT	+0.0100%	1h	0.2768	+0.177%	$35K	$119K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2761	−0.076%	$2K	$1.6M	20x	as long as short