Funding arb · Price arb /

MTL

all MTL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0752%/8h= +82.4% APRpaid last 24h +0.005%

Price spread now: MEXC against Aster−1.080%7-day average — · you buy dearer than you sell

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

Long on Aster Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

Funding pays, the price is against you. MEXC is 1.080% cheaper against Aster than usual: you would sell low and buy high (spread −1.080% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$108 on $10k: about 4.8 days of funding at the current rate (+$23 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster MTLUSDT	0.3226	−0.1018	get 0.0127% / 1h	33m 12s	$2K	$8K	5x
Short	MEXC MTL_USDT	0.3191	−0.0266	pay 0.0133% / 4h	3h 33m	$308K	$139K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Aster. 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 AsterbpFee MEXCbpOrdersPrice spread, now −1.080%Rate

Funding earned: $157.95
Price spread: −1.080% → 0.000%: −$108.01
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: $37.94
Costs to cover: 0.120%
Break-even: 5.3 days

Slippage unknown: Aster: no order-book sample; MEXC: live order book, 22 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 Aster no order-book sample	—	—	—	—	—
Sell MEXC live order book, 22 min ago	3.15 bp	19.9 bp −$20	127.5 bp −$1,275	187.9 bp −$18.8K	doesn't fit

Aster: 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.

MTL on 9 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
Gate MTL_USDT	−0.2622%	4h	0.3192	−1.049%	$164K	$54K	25x	as long as short
Bybit MTLUSDT	−0.1916%	8h	0.3185	−1.266%	$1.1M	$928K	25x	as long as short
Aster MTLUSDTlong	−0.1018%	1h	0.3226	long leg	$2K	$8K	5x
BingX MTL-USDT	−0.0466%	4h	0.3185	−1.266%	—	$1.3M	—	as long as short
BloFin MTL-USDT	−0.0304%	4h	0.3188	−1.173%	$118K	$6K	50x	as long as short
Binance MTLUSDT	−0.0267%	4h	0.3189	−1.157%	$1.8M	$4.5M	50x	as long as short
MEXC MTL_USDTshort	−0.0266%	4h	0.3191	−1.080%	$308K	$139K	50x
Bitget MTLUSDT	−0.0164%	4h	0.3190	−1.111%	$351K	$117K	25x	as long as short
KuCoin MTLUSDTM	+0.0100%	4h	0.3198	−0.863%	$675K	$27K	30x	as long as short