MET

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0185%/8h= −20.3% APRnext payment −$0.23 per $10,000 · paid last 24h +0.050%

Price spread now: GMX against Phoenix−0.292%65s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on GMX

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

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and GMX is 0.292% cheaper against Phoenix than usual: you would sell low and buy high (−$29 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix MET	0.2734	−0.0029	get 0.0004% / 1h	49m 34s	$13K	$14K	5x
Short	GMX MET/USD [WBTC.b-USDC]	0.2726	L −0.0738% / S +0.0214%	pay 0.0027% / 1h	49m 34s	$4K	—	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Phoenix. 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 PhoenixbpFee GMXbpOrdersPrice spread, now −0.292%Rate

Funding earned: −$38.92
Price spread: −0.292% → 0.000%: −$29.15
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: −$87.07
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; GMX: no order-book sample. 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 Phoenix no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Phoenix and 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]short	L −0.0738% / S +0.0214%	1h	0.2726	−0.292%	$4K	—	50x
Phoenix METlong	−0.0029%	1h	0.2734	long leg	$13K	$14K	5x
Bybit METUSDT	+0.0018%	4h	0.2722	−0.424%	$4.7M	$3.2M	25x	as long as short
BloFin MET-USDT	+0.0066%	4h	0.2725	−0.329%	$275K	$92K	50x	as long as short
Lighter MET	+0.0096%	1h	0.2729	−0.190%	$165K	$429K	5x	as long as short
Hyperliquid MET	+0.0100%	1h	0.2723	−0.395%	$3.6M	$1.9M	3x	as long as short
Aster METUSDT	+0.0100%	4h	0.2724	−0.351%	$51K	$11K	5x	as long as short
Binance METUSDT	+0.0100%	4h	0.2723	−0.402%	$4.6M	$12.7M	50x	as long as short
OKX MET-USDT-SWAP	+0.0100%	4h	0.2725	−0.329%	$1.2M	$3.3M	20x	as long as short
Gate MET_USDT	+0.0100%	4h	0.2723	−0.402%	$170K	$194K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MET_USDT	+0.0100%	4h	0.2725	−0.329%	$839K	$289K	20x	as long as short
KuCoin METUSDTM	+0.0100%	4h	0.2723	−0.402%	$1.3M	$2.7M	50x	as long as short
Bitget METUSDT	+0.0100%	4h	0.2725	−0.329%	$664K	$961K	25x	as long as short
Backpack MET_USDC_PERP	+0.0100%	1h	0.2728	−0.205%	$307K	$278K	5x	as long as short
ApeX Omni METUSDT	+0.0100%	1h	0.2721	−0.475%	$34K	$120K	50x	as long as short
SunX MET-USDT	+0.0100%	4h	0.2724	−0.366%	$2K	$1.6M	20x	as long as short