Funding arb · Price arb /

MTL

all MTL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0762%/8h= −83.4% APRpaid last 24h −0.234%

Price spread now: Binance against Bybit+0.334%7-day average −0.226% · you sell dearer than you buy

Net, funding: paid 7d − costs−$428as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$1531.529% of the position

Long on Bybit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−2.754%−$275 on $10k

Price spread, last 7 days−0.952%−$95 · spread now +0.334%, 7d avg −0.226%

Together, before fees−3.707%−$371 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.560% dearer against Bybit than usual: you sell high and buy low (spread +0.334% now, against its 7-day average of −0.226%): +$56 on $10k if it goes back. Holding the pair costs −$23 a day in funding at the current rate, which eats that in about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MTLUSDT	0.3171	0.0100	pay 0.0100% / 8h	5h 11m	$1.1M	$960K	25x
Short	Binance MTLUSDT	0.3182	−0.0662	pay 0.0331% / 4h	1h 11m	$1.7M	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bybit. 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 BybitbpFee BinancebpOrdersPrice spread, now +0.334%Rate

Funding earned: −$159.98
Price spread: +0.334% → −0.226%: $56.05
Slippage, 4 orders: −$131.91
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Binance: 5 bp × 2 orders: −$10
Net: −$256.84
Costs to cover: 1.529%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Binance: live order book, 11 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 Bybit live order book, 4 min ago	1.58 bp	48.5 bp −$49	1065.4 bp −$10.7K	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	3.15 bp	34.1 bp −$34	126.2 bp −$1,262	doesn't fit	doesn't fit

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
BingX MTL-USDT	−0.0688%	4h	0.3180	+0.284%	—	$1.3M	—	as long as short
BloFin MTL-USDT	−0.0683%	4h	0.3179	+0.252%	$82K	$7K	50x	as long as short
MEXC MTL_USDT	−0.0674%	4h	0.3181	+0.315%	$294K	$140K	50x	as long as short
Binance MTLUSDTshort	−0.0662%	4h	0.3182	+0.334%	$1.7M	$4.8M	50x
Aster MTLUSDT	−0.0367%	1h	0.3203	+1.002%	$2K	$8K	5x	as long as short
Bitget MTLUSDT	−0.0186%	4h	0.3178	+0.221%	$347K	$115K	25x	as long as short
Bybit MTLUSDTlong	+0.0100%	8h	0.3171	long leg	$1.1M	$960K	25x
Gate MTL_USDT	+0.0100%	4h	0.3177	+0.189%	$158K	$66K	25x	as long as short
KuCoin MTLUSDTM	+0.0100%	4h	0.3178	+0.221%	$670K	$23K	30x	as long as short