Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1721%/8h= +188.4% APRpaid last 24h +0.050%

Price spread now: BloFin against GMX+0.014%7-day average — · you sell dearer than you buy

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

Long on GMX Short on BloFin

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: +$52 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MET/USD [WBTC.b-USDC]	0.2834	L −0.1671% / S +0.0241%	get 0.0209% / 1h	44m 55s	$9K	—	50x
Short	BloFin MET-USDT	0.2834	0.0049	get 0.0025% / 4h	1h 44m	$289K	$78K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.014%Rate

Funding earned: $361.32
Price spread: +0.014% → 0.000%: $1.41
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: $338.73
Costs to cover: 0.240%
Break-even: 0.4 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 32 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 BloFin live order book, 32 min ago	1.77 bp	8.4 bp −$8	43.3 bp −$433	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 −0.1671% / S +0.0241%	1h	0.2834	long leg	$9K	—	50x
Phoenix MET	−0.0114%	1h	0.2825	−0.289%	$14K	$13K	5x	as long as short
BloFin MET-USDTshort	+0.0049%	4h	0.2834	+0.014%	$289K	$78K	50x
Hyperliquid MET	+0.0100%	1h	0.2838	+0.166%	$4.3M	$1.3M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2836	+0.087%	$53K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2836	+0.076%	$5.0M	$11.1M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2835	+0.060%	$4.9M	$2.9M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2839	+0.191%	$1.3M	$3.4M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2834	+0.014%	$193K	$187K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2833	−0.021%	$947K	$261K	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	0.2834	+0.014%	$1.3M	$2.4M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2836	+0.085%	$666K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2824	−0.339%	$37K	$111K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2836	+0.085%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0104%	1h	0.2840	+0.240%	$262K	$244K	5x	as long as short
Backpack MET_USDC_PERP	+0.0773%	1h	0.2838	+0.155%	$332K	$251K	5x	as long as short