Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Gate against Hyperliquid−0.007%7-day average −0.055% · you buy dearer than you sell

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

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 4 days (all we have)−0.679%−$68 · spread now −0.007%, 7d avg −0.055%

Together, before fees−0.589%+ Points / potential airdropHyperliquid: Season 2 · farm board−$59 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.048% dearer against Hyperliquid than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MET	0.2781	0.0100	pay 0.0013% / 1h	50m 16s	$3.8M	$1.7M	3x
Short	Gate MET_USDT	0.2781	0.0100	get 0.0050% / 4h	50m 16s	$178K	$171K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. 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 HyperliquidbpFee GatebpOrdersPrice spread, now −0.007%Rate

Funding earned: $0
Price spread: −0.007% → −0.055%: $4.78
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$19.22
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 1 min ago; Gate: live order book, 1 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 Hyperliquid live order book, 1 min ago	0.54 bp	18.9 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	7.19 bp	48.4 bp −$48	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 −0.0498% / S +0.0175%	1h	0.2780	−0.055%	$4K	—	50x	as long as short
Phoenix MET	0.0000%	1h	0.2786	+0.158%	$14K	$15K	5x	as long as short
Bybit METUSDT	+0.0026%	4h	0.2779	−0.079%	$4.8M	$3.2M	25x	as long as short
BloFin MET-USDT	+0.0070%	4h	0.2782	+0.029%	$285K	$89K	50x	as long as short
Lighter MET	+0.0096%	1h	0.2778	−0.122%	$168K	$425K	5x	as long as short
Hyperliquid METlong	+0.0100%	1h	0.2781	long leg	$3.8M	$1.7M	3x
Aster METUSDT	+0.0100%	4h	0.2783	+0.065%	$52K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2780	−0.043%	$4.8M	$12.2M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2782	+0.029%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDTshort	+0.0100%	4h	0.2781	−0.007%	$178K	$171K	50x

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MET_USDT	+0.0100%	4h	0.2780	−0.043%	$934K	$280K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2782	+0.029%	$1.3M	$2.6M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2783	+0.065%	$651K	$865K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2788	+0.244%	$36K	$118K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2779	−0.079%	$1K	$1.6M	20x	as long as short
Backpack MET_USDC_PERP	+0.0128%	1h	0.2785	+0.126%	$316K	$310K	5x	as long as short