Funding arb · Price arb /

MET

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against KuCoin+0.177%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$335as in the Funding arb table

Net, price: spread back to 7d avg − costs−$333as in the Price arb table

costs, in and out, $10k−$3483.483% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.135%+$13 on $10k

Price spread, last 7 days−0.152%−$15 · spread now +0.177%, 7d avg +0.027%

Together, before fees−0.018%−$2 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: Bybit is 0.150% dearer against KuCoin than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin METUSDTM	0.2827	0.0100	pay 0.0050% / 4h	1h 45m	$1.3M	$2.4M	50x
Short	Bybit METUSDT	0.2832	0.0100	get 0.0050% / 4h	1h 45m	$4.9M	$2.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now +0.177%Rate

Funding earned: $0
Price spread: +0.177% → +0.027%: $14.99
Slippage, 4 orders: −$325.32
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$333.32
Costs to cover: 3.483%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Bybit: live order book, 2 min ago.

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 KuCoin live order book, 6 min ago	7.09 bp	119.0 bp −$119	346.9 bp −$3,469	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	3.54 bp	43.9 bp −$44	198.2 bp −$1,982	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 −0.1658% / S +0.0240%	1h	0.2826	−0.024%	$9K	—	50x	as long as short
Phoenix MET	−0.0114%	1h	0.2821	−0.198%	$14K	$13K	5x	as long as short
BloFin MET-USDT	+0.0077%	4h	0.2831	+0.141%	$289K	$78K	50x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2830	+0.120%	$4.3M	$1.3M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2828	+0.050%	$52K	$10K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2832	+0.193%	$4.9M	$11.1M	50x	as long as short
Bybit METUSDTshort	+0.0100%	4h	0.2832	+0.177%	$4.9M	$2.9M	25x
OKX MET-USDT-SWAP	+0.0100%	4h	0.2835	+0.283%	$1.3M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2828	+0.035%	$193K	$187K	50x	as long as short
MEXC MET_USDT	+0.0100%	4h	0.2828	+0.035%	$945K	$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 METUSDTMlong	+0.0100%	4h	0.2827	long leg	$1.3M	$2.4M	50x
Bitget METUSDT	+0.0100%	4h	0.2830	+0.106%	$665K	$845K	25x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2816	−0.389%	$36K	$111K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2826	−0.035%	$2K	$1.6M	20x	as long as short
Lighter MET	+0.0104%	1h	0.2834	+0.244%	$261K	$244K	5x	as long as short
Backpack MET_USDC_PERP	+0.0725%	1h	0.2831	+0.131%	$331K	$251K	5x	as long as short