Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0733%/8h= +80.3% APRpaid last 24h +0.233%

Price spread now: Aster against GMX−0.128%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 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 pays, the price is against you. Aster is 0.128% cheaper against GMX than usual: you would sell low and buy high (spread −0.128% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 14 hours of funding at the current rate (+$22 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MET/USD [WBTC.b-USDC]	0.2843	L −0.0633% / S +0.0214%	get 0.0079% / 1h	55m 43s	$4K	—	50x
Short	Aster METUSDT	0.2839	0.0100	get 0.0050% / 4h	2h 55m	$53K	$11K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against GMX. 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 GMXbpFee AsterbpOrdersPrice spread, now −0.128%Rate

Funding earned: $154.01
Price spread: −0.128% → 0.000%: −$12.8
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: $121.21
Costs to cover: 0.200%
Break-even: 1.5 days

Slippage unknown: GMX: no order-book sample; 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 GMX no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

GMX and 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]long	L −0.0633% / S +0.0214%	1h	0.2843	long leg	$4K	—	50x
Phoenix MET	−0.0206%	1h	0.2840	−0.095%	$14K	$14K	5x	as long as short
Lighter MET	+0.0096%	1h	0.2843	−0.004%	$175K	$432K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2843	+0.007%	$3.8M	$1.9M	3x	as long as short
Aster METUSDTshort	+0.0100%	4h	0.2839	−0.128%	$53K	$11K	5x
Binance METUSDT	+0.0100%	4h	0.2833	−0.352%	$4.7M	$12.3M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2832	−0.362%	$4.9M	$3.2M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2831	−0.412%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2843	+0.011%	$182K	$167K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2834	−0.306%	$866K	$293K	20x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin METUSDTM	+0.0100%	4h	0.2835	−0.271%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2834	−0.306%	$709K	$842K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2846	+0.127%	$326K	$242K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2831	−0.412%	$36K	$117K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2845	+0.081%	$2K	$1.5M	20x	as long as short
BloFin MET-USDT	+0.0126%	4h	0.2830	−0.447%	$280K	$94K	50x	as long as short