Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1823%/8h= +199.6% APRpaid last 24h +0.053%

Price spread now: Binance against GMX−0.091%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 Binance

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

Funding pays, the price is against you. Binance is 0.091% cheaper against GMX than usual: you would sell low and buy high (spread −0.091% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 4 hours of funding at the current rate (+$55 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MET/USD [WBTC.b-USDC]	0.2853	L −0.1723% / S +0.0247%	get 0.0215% / 1h	7m 43s	$10K	—	50x
Short	Binance METUSDT	0.2850	0.0100	get 0.0050% / 4h	1h 07m	$5.0M	$11.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.091%Rate

Funding earned: $382.75
Price spread: −0.091% → 0.000%: −$9.15
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: $351.6
Costs to cover: 0.220%
Break-even: 0.6 days

Slippage unknown: GMX: no order-book sample; Binance: live order book, 2 min ago. 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 Binance live order book, 2 min ago	1.75 bp	22.5 bp −$22	98.0 bp −$980	doesn't fit	doesn't fit

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]long	L −0.1723% / S +0.0247%	1h	0.2853	long leg	$10K	—	50x
Phoenix MET	−0.0114%	1h	0.2853	+0.003%	$14K	$13K	5x	as long as short
BloFin MET-USDT	+0.0086%	4h	0.2849	−0.127%	$293K	$79K	50x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2854	+0.063%	$4.3M	$1.3M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2856	+0.136%	$54K	$11K	5x	as long as short
Binance METUSDTshort	+0.0100%	4h	0.2850	−0.091%	$5.0M	$11.3M	50x
Bybit METUSDT	+0.0100%	4h	0.2851	−0.074%	$4.9M	$2.9M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2855	+0.084%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2853	+0.014%	$193K	$189K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2853	+0.014%	$965K	$272K	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	0.2852	−0.021%	$1.3M	$2.5M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2852	−0.021%	$677K	$854K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2845	−0.267%	$36K	$111K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2852	−0.021%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0120%	1h	0.2859	+0.231%	$265K	$247K	5x	as long as short
Backpack MET_USDC_PERP	+0.0561%	1h	0.2856	+0.101%	$332K	$257K	5x	as long as short