Funding arb · Price arb /

MET

all MET markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0536%/8h= +58.6% APRpaid last 24h +0.009%

Price spread now: SunX against GMX−0.109%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 SunX

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. SunX is 0.109% cheaper against GMX than usual: you would sell low and buy high (spread −0.109% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 16 hours of funding at the current rate (+$16 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX MET/USD [WBTC.b-USDC]	0.2850	L −0.0436% / S +0.0112%	get 0.0054% / 1h	30m 36s	$10K	—	50x
Short	SunX MET-USDT	0.2847	0.0100	get 0.0050% / 4h	3h 30m	$2K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.109%Rate

Funding earned: $112.47
Price spread: −0.109% → 0.000%: −$10.91
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: $81.55
Costs to cover: 0.200%
Break-even: 1.9 days

Slippage unknown: GMX: no order-book sample; SunX: live order book, 5 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 SunX live order book, 5 min ago	502.54 bp	doesn't fit	doesn't fit	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 −0.0436% / S +0.0112%	1h	0.2850	long leg	$10K	—	50x
Phoenix MET	−0.0224%	1h	0.2851	+0.021%	$14K	$13K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2855	+0.179%	$4.5M	$1.2M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2851	+0.026%	$53K	$8K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2852	+0.062%	$5.0M	$10.7M	50x	as long as short
Bybit METUSDT	+0.0100%	4h	0.2850	−0.004%	$5.0M	$2.8M	25x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2852	+0.066%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2847	−0.109%	$194K	$196K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2850	−0.004%	$946K	$239K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2851	+0.031%	$1.3M	$2.5M	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	0.2853	+0.101%	$669K	$833K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2848	−0.074%	$37K	$108K	50x	as long as short
SunX MET-USDTshort	+0.0100%	4h	0.2847	−0.109%	$2K	$1.5M	20x
BloFin MET-USDT	+0.0112%	4h	0.2846	−0.144%	$296K	$85K	50x	as long as short
Lighter MET	+0.0296%	1h	0.2858	+0.266%	$263K	$243K	5x	as long as short
Backpack MET_USDC_PERP	+0.0546%	1h	0.2853	+0.108%	$331K	$254K	5x	as long as short