Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0015%/8h= +1.7% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Bybit−0.386%7-day average −0.137% · you buy dearer than you sell

Net, funding: paid 7d − costs−$672as in the Funding arb table

Net, price: spread back to 7d avg − costs−$711as in the Price arb table

costs, in and out, $10k−$6876.866% of the position

Long on Bybit Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.151%+$15 on $10k

Price spread, last 3 days (all we have)+0.237%+$24 · spread now −0.386%, 7d avg −0.137%

Together, before fees+0.388%+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.248% cheaper against Bybit than usual: you would sell low and buy high (spread −0.386% now, against its 7-day average of −0.137%). If the spread goes back, that is −$25 on $10k: about 54 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.151% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit METUSDT	0.2853	0.0085	pay 0.0042% / 4h	3h 51m	$5.0M	$3.1M	25x
Short	ApeX Omni METUSDT	0.2842	0.0100	get 0.0013% / 1h	51m 01s	$36K	$116K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Bybit. 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 BybitbpFee ApeX OmnibpOrdersPrice spread, now −0.386%Rate

Funding earned: $3.24
Price spread: −0.386% → −0.137%: −$24.81
Slippage, 4 orders: −$665.65
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$708.22
Costs to cover: 6.866%
Break-even: 1536.0 days

Slippage from Bybit: live order book, 2 min ago; ApeX Omni: live order book, 19 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 Bybit live order book, 2 min ago	3.51 bp	48.7 bp −$49	353.2 bp −$3,532	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 19 min ago	28.08 bp	297.5 bp −$298	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 −0.1723% / S +0.0247%	1h	0.2847	−0.203%	$10K	—	50x	as long as short
BloFin MET-USDT	+0.0072%	4h	0.2848	−0.175%	$293K	$83K	50x	as long as short
Bybit METUSDTlong	+0.0085%	4h	0.2853	long leg	$5.0M	$3.1M	25x
Hyperliquid MET	+0.0100%	1h	0.2848	−0.193%	$4.2M	$1.4M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2849	−0.155%	$54K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2854	+0.035%	$5.0M	$11.8M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2852	−0.035%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2845	−0.280%	$193K	$185K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2847	−0.210%	$1.0M	$276K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2847	−0.210%	$1.3M	$2.6M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget METUSDT	+0.0100%	4h	0.2854	+0.035%	$684K	$880K	25x	as long as short
ApeX Omni METUSDTshort	+0.0100%	1h	0.2842	−0.386%	$36K	$116K	50x
SunX MET-USDT	+0.0100%	4h	0.2847	−0.210%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0104%	1h	0.2854	+0.042%	$253K	$272K	5x	as long as short
Phoenix MET	+0.0197%	1h	0.2848	−0.158%	$15K	$15K	5x	as long as short
Backpack MET_USDC_PERP	+0.0522%	1h	0.2850	−0.119%	$333K	$263K	5x	as long as short