Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0314%/8h= −34.4% APRpaid last 24h −0.016%

Price spread now: GMX against Bitget−0.012%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget METUSDT	0.2811	0.0100	pay 0.0050% / 4h	2h 06m	$660K	$845K	25x
Short	GMX MET/USD [WBTC.b-USDC]	0.2811	L −0.1414% / S +0.0214%	pay 0.0027% / 1h	6m 43s	$9K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$66.03
Price spread: −0.012% → 0.000%: −$1.21
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$91.24
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 14 min ago; GMX: 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 Bitget live order book, 14 min ago	8.81 bp	28.6 bp −$29	110.6 bp −$1,106	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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]short	L −0.1414% / S +0.0214%	1h	0.2811	−0.012%	$9K	—	50x
Phoenix MET	−0.0197%	1h	0.2816	+0.181%	$14K	$13K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2811	+0.011%	$259K	$244K	5x	as long as short
BloFin MET-USDT	+0.0096%	4h	0.2808	−0.107%	$291K	$78K	50x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2808	−0.121%	$4.3M	$1.2M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2809	−0.056%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2807	−0.142%	$4.9M	$11.0M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2806	−0.185%	$4.9M	$2.8M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2807	−0.142%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2809	−0.071%	$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	0.2806	−0.178%	$926K	$264K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2807	−0.142%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDTlong	+0.0100%	4h	0.2811	long leg	$660K	$845K	25x
ApeX Omni METUSDT	+0.0100%	1h	0.2809	−0.071%	$37K	$110K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2812	+0.036%	$2K	$1.6M	20x	as long as short
Backpack MET_USDC_PERP	+0.0345%	1h	0.2809	−0.053%	$328K	$251K	5x	as long as short